Morgan Stanley: Beware of China High Yield Debt, As Lower Leverage Is Double-Edged SwordMark Melin
With deleveraging and capital controls haunting investors, credit risk is back in focus on the Chinese onshore market. Morgan Stanley’s Kelvin Pang, in a January 18 Asian Credit Strategy note, recommends that investors switch out of the China high yield bond market and rotate into investment grade bonds in the region “before the repricing of the credit risk premium in offshore credit.”
China Debt Default Looms As Growth Options Run Out ..
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