Chinese HY dollar bonds have reversed its gains this year, after having risen 10% through January. Besides existing concerns on the overall state of the property market, the latest events have caused angst. Worries about Dalian Wanda, Sino-Ocean and Country Garden have seen their dollar bonds drop significantly this month, impacting the sector. Iris Chen of Nomura says that the decline in dollar bonds “also reflects the overall weak confidence for property market fundamentals”.
China HY Dollar Bonds Erase 2023 Gains Led by Property Sector Worries
