Bond Traders Learned a Twisted Lesson From Evergrande’s Fall
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Investors penalize China Inc. while seeking notes issued elsewhere in Asia. Evergrande, the world's most indebted developer, was ordered into liquidation by a Hong Kong court. Global investors are left holding worthless notes and may have to wait for years to recover a few cents on the dollar. Dollar bond investors should be cautious and learn from this experience.

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https://www.bloomberg.com/opinion/articles/2024-02-01/evergrande-bond-traders-learned-a-twisted-lesson-from-its-fall