China loans reflect bond market fears

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By Morgan Davis, Pan Yue
26 Jul 2018

The slow pace of the loan market means it often gives comfort to bond bankers in times of volatility. But for those bankers with heavy pipelines of Chinese offshore bonds, a glance at the outlook for loans now paints a scary picture.

It is almost axiomatic that the loan market adjusts to conditions more slowly than bonds. Whereas bond volumes can zig and zag based on a speech by a central banker or politician, or even by just a vague fear that things are about go wrong, loans bankers tend ...

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