It's getting much more expensive for Chinese developers to roll over their debt, just as home sales in the nation plummet. Yields on China's dollar-denominated junk bonds have surged to the highest in a decade. https://t.co/AhjC86wppK pic.twitter.com/Ze9YRvg1Gt
— Lisa Abramowicz (@lisaabramowicz1) October 5, 2021
Remember how I said DB, C & HSBC are the global money launders & heavily exposed to what's going on.
— Financelot (@FinanceLancelot) October 5, 2021
Well here's DB's head of Asia property equity. She says no to worry & sales will only be down 15% YoY.
Meanwhile sales are already down 80% YoY ๐คฃhttps://t.co/BDQxqJhg8L
Sinic Holdings was just downgraded to C status, meaning it's currently defaulting.
— Financelot (@FinanceLancelot) October 5, 2021
Fantasia Holdings missed its $205m bond payment today.
Who's next? pic.twitter.com/W3mTQJRG9V
The Great Defaulting begins today https://t.co/Nrqa7hkTpf
— Financelot (@FinanceLancelot) October 4, 2021
Apparently it's not just Evergrande shares in a trading halt it's all structured products related to the company. https://t.co/FAyOLmRWu2
— Avid Commentator ๐ฆ๐บ (@AvidCommentator) October 4, 2021
Evergrande isn’t the only one suspended.
— Ken Griffin’s Mayo PARODY*PARROT TEE*PARROTY (@GriffinsMayo) October 4, 2021
Courtesy of u/christianbrooks pic.twitter.com/DqxHOnNTxV
There are 66 major property developers in China with over half having issues making supplier payments. All have billions in offshore USD bonds. Their subsidiaries develop property all over the world.
— Financelot (@FinanceLancelot) October 4, 2021
Foreign institutions increased their exposure expecting government bailouts. pic.twitter.com/1ptE6AT2Dy
Not true.
— Pure Finance (@PuraVidaCrypto) October 8, 2021
Here is the list of Evergrande bagholders:
Tether is nowhere in here.
US mutual funds are pic.twitter.com/sVuiSjQRxN
BREAKING NEWS:
— Gold Telegraph ⚡ (@GoldTelegraph_) October 8, 2021
EVERGRANDE CREDITORS FEAR IMMINENT DEFAULT AS ADVISERS CALL FOR CLARITY
OFFSHORE BONDHOLDERS ARE DEMANDING MORE INFORMATION AND TRANSPARENCY
Surprise, surprise
Ping An Bank - overleveraged with Evergrande. Collapses. These people are unable to withdraw their life savings and since there is no such thing as “FDIC” there. Their money is gone for good. Don’t dance. https://t.co/XnKVgIZGZg
— Brฮnt Schultz ⭕️ (@BrentSchultz14) October 8, 2021
Weird. I can’t find a single story about this right now. Still looking. Is this legit? Wonder why the silence, seems like a pretty big deal…
— Jeremy Adams (@nwpachyderm9181) October 8, 2021
Is it a big deal to bank owned news media outlets in America?
— Brฮnt Schultz ⭕️ (@BrentSchultz14) October 8, 2021
I’m sure there will be some small blurbs written. The fun won’t start until end of the month possibly. Definitely end of the year and the news will be talking non stop about financial crises. pic.twitter.com/OlGGBcYQfM
I would think so. Plenty of outlets were talking about Evergrande so unless they’re trying to downplay the contagion risk, I can’t see why this wouldn’t be huge news. The market is so fragile right now, wouldn’t want people to panic, you know?
— Jeremy Adams (@nwpachyderm9181) October 8, 2021
China does suppress media from time to time...๐
— Don't call me Jeffrey ๐ฆ=๐ด☠️ (@SNasty78170989) October 8, 2021
19. Regulators are probing Ping An - the only insurer labeled "systematically important" and down 40% since January. Most reporting suggests losses were direct investment - but they were ordered to stop selling "alternative investment products". Hm..https://t.co/fIVP8kih5a
— TheLastBearStanding (@TheLastBearSta1) September 8, 2021
UPDATE 10/8/21 at 3:28pm: Added info below.8. Central China Real Estate ($23bn of liabilities):
— TheLastBearStanding (@TheLastBearSta1) September 8, 2021
2024 USD bond prices:
January: 100
July: 87
Sept: 68 pic.twitter.com/s648FNcuX6
2/3 when #China ’s largest developer #Evergrande defaulted, Ping An bank said that it had “zero risk exposure” to Evergrande.
— Jennifer Zeng ๆพ้ (@jenniferatntd) October 8, 2021
However, it is well known that Ping An bank is the real invisible big “boss” behind the real estate industry in China. It has heavy positions in 13...
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