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Moral Hazard

Posted by ipso facto @ 10:13 on September 10, 2021  

Beijing Blinks: Will Allow Evergrande To Renegotiate Debt Terms

Maybe it was the 3rd consecutive day in a row that Evergrande bonds were halted after furious selling amid growing concerns of imminent default…

Evergrande 6.98% 2023 Local Bond Halts Trading After Plunge

How many times can a bond “plunge” before hitting 0

— zerohedge (@zerohedge) September 9, 2021
… or maybe one of those pro-China US billionaires – such as Larry Fink and Ray Dalio – who are now engaged in discrediting George Soros for speaking out against the one true Chairman, and who still remember what happened the weekend after Lehman collapsed made a phone call to Beijing and urged them to reconsider, but whatever the reason, on Thursday China blinked and according to Bloomberg, regulators in Beijing signed off on a China Evergrande’s proposal to renegotiate payment deadlines with banks and other creditors, paving the way for a temporary reprieve as the cash-strapped developer struggles to come to grips with more than $300 billion of liabilities.

https://www.zerohedge.com/markets/beijing-blinks-will-allow-evergrande-renegotiate-debt-terms

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Post by the Golden Rule. Oasis not responsible for content/accuracy of posts. DYODD.