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China Home Prices Drop For The First Time Since 2015 As Existing Home Sales Crash 63%

China Home Prices Drop For The First Time Since 2015 As Existing Home Sales Crash 63%

BY Tyler Durden | ZeroHedge Two weeks after we reported that China’s property market just suffered “catastrophic” property sales in September which invoked Goldman’s “hard landing” scenario and which saw total sales of 759.6b yuan plunge 36.2% from September 2020 (and 17.7% lower from the same period in 2019), deepening a downward spiral that started in July […]

Default Of Second Chinese Developer Sparks China Junk Bond Meltdown As Contagion Explodes

Default Of Second Chinese Developer Sparks China Junk Bond Meltdown As Contagion Explodes

BY Tyler Durden | ZeroHedge As we expected, Evergrande is only the first cockroach. With the world waiting to find out the fate of a $260 million bond issued by Jumbo Fortune Enterprises which is guaranteed by Evergrande, and which has no grace period so an event of default could take place as soon as this week (the […]