Property developer China Aoyuan saw its dollar bonds fall around 3% yesterday. While no particular news has come out, its dollar bonds have been trending lower since late March when its results were announced. Revenues were short of expectations by 7% at CNY68bn ($10.4bn). Analysts estimate revenues at CNY87.4bn ($13.3bn) in 2021, which would show a 29% increase YoY. Bloomberg reports that an emailed statement from Aoyuan’s IR department said that the company isn’t “aware of any reason that might lead to the decline in bond prices.”

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