Not ideal timing: Asian HY covenant standards dip

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Not ideal timing: Asian HY covenant standards dip

China stock market random 150 x 230
Investors are seen at a stock trading hall in Shenyang, northeast China's Liaoning Province, March 30, 2016. China's stocks rallied on Wednesday, with the benchmark Shanghai Composite Index up 2.77 percent to 3,000.64 points. The smaller Shenzhen index surged 3.48 percent to end at 10,445.69 points. (Xinhua/Pan Yulong)(mcg) (Photo by Xinhua/Sipa USA) | Xinhua/SIPA USA/PA Images

The quality of Asian high yield bond covenants dropped to an all-time low in the last quarter. Chinese property developers, making the most of a buoyant market, have been cited as the biggest cause. But as the region’s primary bond market continues to struggle, it’s unclear if that push for looser standards can continue.

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