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China property bonds bounce back after difficult week
Dollar bonds from high yield Chinese real estate companies tightened in the secondary market on Tuesday, after plummeting in the run up to the Lunar New Year break amid news from firms under liquidity pressure.
Chinese property companies with single B ratings saw their dollar bonds tighten anywhere from 5bp to 20bp on Tuesday, following the four-day Chinese New Year break in Hong Kong. Property bonds with BB or cross-over ratings were largely unchanged. China remains on holiday through February 17.
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