The unprecedented boom in China’s $3 trillion corporate bond market is starting to unravel.
Spooked by a fresh wave of defaults at state-owned enterprises, investors in China’s yuan-denominated company notes have driven up yields for nine of the past 10 days and triggered the biggest selloff in onshore junk debt since 2014. Local issuers have canceled 61.9 billion yuan ($9.6 billion) of bond sales in April alone, and Standard & Poor’s is cutting its assessment of Chinese firms at a pace unseen since 2003.
Biden’s New Carbon Capture Mandates Will Cause Blackouts, Increases Prices
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The lie of the day is from the EPA: Carbon capture will pay for itself
(thanks to IRA subsidies). No, it won't even with subsidies. Expect
blackouts and a ...
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