bearish
Alibaba, JD.Com, Longfor Group, and Country Garden
SUMMARY
- Country Garden 2031 USD bond closed at 17.00. It is pricing a near-inevitable default.
- Longfor Group-rated BBB- maturing in 2032, is trading at 54.25, yielding 12.6%.
- The bonds are down 50% since their peak near 109 in February 2021. it is getting into a crisis of confidence mode.
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