A SURPRISE SPATE OF BOND DEFAULTS BY STATE-OWNED CHINESE FIRMS IS SPOOKING INVESTORS

A series of high-profile defaults involving state-owned enterprises in China led to a bond market selloff last week. Defaults by government-supported firms in China were rare before recent times. Those defaults are coming even as many asset managers, bullish on Chinese debt, have this year been pushing their calls on these investments, which offer a very attractive proposition for investors with t...