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re: China House of Cards? China Evergrande Group in Major Liquidity Crisis
Posted on 9/20/21 at 12:46 pm to Great Plains Tiger
Posted on 9/20/21 at 12:46 pm to Great Plains Tiger
quote:I feel that there has been so much “smoke” around Tether USDT, that if/when it collapses , anyone who would go down with it, I would be like , “seriously bro, you thought USDT was 100% safe”
There is a rumor that a large chunk of the cash/cash equivalent that Tether holds is Evergrande or other Chinese RE companies commercial paper.
1
Posted on 9/21/21 at 8:43 am to evil cockroach
The Chinese Gov't will have 30 days to cure the default if they miss their interest payment on Thursday.
Here are the top funds with the highest exposure to Evergrande bonds:
1. Fidelity Asian High-Yield Fund
2. UBS (Lux) BS Asian High Yield (USD)
3. HSBC Global Investment Funds - Asia High Yield Bond XC
4. Pimco GIS Asia High Yield Bond Fund
5. Blackrock BGF Asian High Yield Bond Fund
6. Allianz Dynamic Asian High Yield Bond
Here are the top funds with the highest exposure to Evergrande bonds:
1. Fidelity Asian High-Yield Fund
2. UBS (Lux) BS Asian High Yield (USD)
3. HSBC Global Investment Funds - Asia High Yield Bond XC
4. Pimco GIS Asia High Yield Bond Fund
5. Blackrock BGF Asian High Yield Bond Fund
6. Allianz Dynamic Asian High Yield Bond
Posted on 9/21/21 at 9:23 am to MrLSU
quote:
1. Fidelity Asian High-Yield Fund
2. UBS (Lux) BS Asian High Yield (USD)
3. HSBC Global Investment Funds - Asia High Yield Bond XC
4. Pimco GIS Asia High Yield Bond Fund
5. Blackrock BGF Asian High Yield Bond Fund
6. Allianz Dynamic Asian High Yield Bond
No worries I'm sure these funds are packed with AMZN, FB, APPL, and GOOG equity
Posted on 9/21/21 at 10:08 am to NC_Tigah
quote:
Lehman-type Black Swan Event, at least in China,
Humm expect to hear about US banks that invested in it after Trump's and Mnunchin's Phase 1 deal
Posted on 9/21/21 at 10:45 am to I B Freeman
Ya, banks never did deals in China before Mnuchin and Blumpf 
Posted on 9/21/21 at 12:27 pm to I B Freeman
quote:
Humm expect to hear about US banks that invested in it after Trump's and Mnunchin's Phase 1 deal
Perhaps you know something I don't?
AFAICT, US Banks appear minimally exposed.
Posted on 9/21/21 at 12:48 pm to NC_Tigah
quote:
Perhaps you know something I don't?
If it's happening in China, he would be the guy to know
Seriously, can someone breakdown this topic for me and its real world implications? It all seems interesting, but a bit over my head.
Posted on 9/21/21 at 6:42 pm to CoachChappy
quote:
Seriously, can someone breakdown this topic for me and its real world implications?
China’s real estate sector has been a massive, growing bubble for a long time now. Like the U.S. in 2008 there was a bunch of hot money and government backing pushing the bubble. Evergrande is one of the major players in this sector (second largest) and has been in a state where it could only afford to pay interest for some time on its debt. Now it can’t even do that.
To make matters worse much of the debt is denominated in American Dollars, meaning China can’t simply fire up their own money printers and pay it off without consequences.
IF Evergrande were to default it could cause a ripple effect throughout their banking/finance sector and bring down/wipeout other players, as well.
Thankfully worldwide exposure to the Chinese RE market isn’t as much as it was to the U.S.’s in ‘08, but it could still cause problems.
This post was edited on 9/21/21 at 6:47 pm
Posted on 9/21/21 at 7:29 pm to NC_Tigah
But for the fact it would frick plenty of people globally, it would be nice to see China take it in the arse after fricking everyone else with this goddamned virus.
Posted on 9/21/21 at 8:00 pm to wutangfinancial
Nothing like the degree they have done since. One of Trump’s goal with his tariffs on Americans was to get China to reduce or end the requirement that banks have Chinese partners on investments in China. He got those restrictions relaxed and hundreds of Billions dollars have been invested in China since then.
So many here thought that trade war was about making trinkets in the US.
So many here thought that trade war was about making trinkets in the US.
This post was edited on 9/21/21 at 8:13 pm
Posted on 9/21/21 at 8:09 pm to I B Freeman
quote:
Humm expect to hear about US banks that invested in it after Trump's and Mnunchin's Phase 1 deal
Lulz TDS and Team Chyna
Posted on 9/21/21 at 8:11 pm to NC_Tigah
Perhaps to this particular group but here is an article from earlier in the spring that describes what I am saying
quote:
The 2020 U.S.-China trade deal eliminated the foreign ownership cap, allowing Goldman to buy out its Chinese partner.
Richard Gnodde, chief executive of Goldman Sachs International, told investors at the time that the bank by mid-decade could capture a lucrative share of an estimated $100 billion in potential revenue.
Goldman’s private wealth management unit covets China’s affluent urban professionals as customers for investment advice.
Foreign investors have been pumping money into Chinese financial markets, lured by higher interest rates and a rising local currency, which inflates their dollar profits. “The investment banks are operating in politically much more treacherous waters than they were just a few years ago, given both the domestic political atmosphere and the continuing U.S.-China tensions. But as long as they can navigate the rough seas, they can make quite a bit of money,” said Andrew Collier, managing director at Orient Capital Research in Hong Kong. “Congress can put modest limits on the exposure of Western capital to China but realistically can’t close the door completely.”
Posted on 9/21/21 at 8:23 pm to I B Freeman
If they’re truly brave/foolish enough to swim with the sharks then I hope our government is hard hearted enough to not bandage them up if/when they get an arm bit off.
Posted on 9/22/21 at 7:00 am to NC_Tigah
Looks like world markets can take a breath at least for a bit as evergreen has indicated that they’ll be able to make their Thursday bond payment.
The likely hood of a major debt restructuring still looms though. That will mean that banks and other lending institutions tied to it will have to take a hit.
The more I read about this company, the more it looks like a Ponzi scheme and I have to wonder how many more are out there.
The likely hood of a major debt restructuring still looms though. That will mean that banks and other lending institutions tied to it will have to take a hit.
The more I read about this company, the more it looks like a Ponzi scheme and I have to wonder how many more are out there.
Posted on 9/22/21 at 11:06 am to Decisions
Exactly. I don't particularly care that they have invested there. I do not like that the government punished American importers to accomplish this road to more investment in China of American capital.
I will not like it all if China defaults result in new bank bailouts.
I will not like it all if China defaults result in new bank bailouts.
Posted on 9/22/21 at 6:51 pm to I B Freeman
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