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Emerging Markets

Not ideal timing: Asian HY covenant standards dip

China stock market random 150 x 230

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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