Yuan 'Death Crosses' As Default Wave Forces Chinese Banks To Raise Capital
Zero Hedge -

According to survey data by Bank of America Merrill Lynch, stretching back to 2009, investors have never been so bearish of Asian bonds in history.

Investors see China's liquidity tightening...

As the PBOC cracks down on the leverage in the shadow banking system...

And domestic bond defaults surging, sparking major fund outflows that are weighing on the offshore yuan.

China corporate-bond defaults is about 22.2 billion yuan so far this year, data compiled by Bloomberg show. These...

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