{"id":895,"date":"2024-09-22T02:36:58","date_gmt":"2024-09-21T18:36:58","guid":{"rendered":"https:\/\/www.kafeizha.com\/?p=895"},"modified":"2024-09-22T02:36:58","modified_gmt":"2024-09-21T18:36:58","slug":"%e4%b8%ad%e5%9b%bd%e5%9c%b0%e4%ba%a7%e4%b8%8b%e6%bb%91%e5%af%bc%e8%87%b4%e6%ac%a1%e7%ba%a7%e5%80%ba%e5%88%b8%e8%bf%9e%e7%bb%ad%e4%b8%80%e5%91%a8%e4%b8%8b%e8%b7%8c","status":"publish","type":"post","link":"https:\/\/news.tomjun.com\/?p=895","title":{"rendered":"\u4e2d\u56fd\u5730\u4ea7\u4e0b\u6ed1\u5bfc\u81f4\u6b21\u7ea7\u503a\u5238\u8fde\u7eed\u4e00\u5468\u4e0b\u8dcc"},"content":{"rendered":"

\u65b0\u95fb\u6765\u6e90\uff1a<\/b>www.bloomberg.com
\u539f\u6587\u5730\u5740\uff1a<\/b>China Junk Bonds Suffer Longest Slide in Year on Property Slump<\/a><\/font>
\u65b0\u95fb\u65e5\u671f\uff1a<\/b>2024-09-11<\/p>\n

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\u201c\u6211\u4eec\u4ecd\u5bf9\u4e2d\u56fd\u623f\u5730\u4ea7\u5e02\u573a\u6301\u8c28\u614e\u6001\u5ea6\uff0c\u56e0\u4e3a\u4e0d\u786e\u5b9a\u6027\u4ecd\u7136\u5b58\u5728\uff0c\u6211\u4eec\u5c1a\u672a\u770b\u5230\u7a33\u5b9a\u8ff9\u8c61\u3002\u201dPinebridge Investments Asia Ltd\u4e9a\u6d32\u56fa\u5b9a\u6536\u76ca\u6295\u8d44\u90e8\u4e3b\u7ba1\u4e4b\u4e00\u8868\u793a\u3002\u5c3d\u7ba1\u653f\u5e9c\u5df2\u52aa\u529b\u652f\u6301\u5e02\u573a\uff0c\u4f46\u4e2d\u56fd\u7684\u4f4f\u623f\u884c\u4e1a\u81ea\u516b\u6708\u4efd\u4ee5\u6765\u4ecd\u672a\u89c1\u597d\u8f6c\u3002\u8bb8\u591a\u5f00\u53d1\u5546\u7684\u8d44\u4ea7\u89c4\u6a21\u5728\u6536\u7f29\uff0c\u8fd9\u8fdb\u4e00\u6b65\u52a0\u5267\u4e86\u5e02\u573a\u7684\u62c5\u5fe7\u3002<\/p>\n

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\u539f\u6587\u6458\u8981\uff1a<\/b><\/p>\n

China\u2019s junk dollar market is on pace to decline for an eighth day, the longest such stretch since August 2023, after weak home sales data underscored the country\u2019s deepening real estate slump.\u2019s 3.975% dollar due in 2027 declined 3.5 cents to 44 cents on Wednesday, set for the lowest since early May. A 4.25% dollar due 2029 issued by fell by around 2 cents, as did some sold by , according to Bloomberg-compiled data. The average price of Chinese high-yield dollar bonds dropped to 85.6 cents in the seven days to Tuesday, also the lowest in four months, according to a Bloomberg .Investors are once again on tenterhooks as Chinese builders face pressure from continued declines in property sales, sparking worries about their liquidity. The renewed turmoil cut short a market rebound earlier this year, when China\u2019s high-yield dollar bonds rallied to their in three years amid government efforts to shore up the bruised property sector. \u201cWe are still cautious on China property names as the uncertainty is still there and we have not seen the stabilization yet,\u201d said , co-head of Asia fixed income at Pinebridge Investments Asia Ltd.The country\u2019s housing slump in August despite government efforts to support the market. Shrinking from , and other developers have also weighed on sentiment.\u201cThe selloff came on the back of generally weak first half results, with the still-surviving Chinese developers reporting thin margins, weaker leverage and strained liquidity,\u201d said , senior credit analyst at Lucror Analytics. Meanwhile, the central government\u2019s attempt to ease oversupply by urging more than 200 cities in May to buy unsold homes has so far produced sluggish , with only 29 of them heeding the call. \u201cThere is a realization that the series of policy measures, which drove the rally in April and May, has not been as effective as desired,\u201d Law said. \u201cCoupled with soft macro data, this has turned into a risk-off sentiment toward China high yield.\u201d<\/p>\n

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