Cloud Live bond default tests market credulity

China's second public corporate bond default hasn't spooked investors. Instead, some appear willing to bet on a White Knight riding in again to save the day.
After seeing an earlier bond default averted, investors have come to see light at the end of every potential bond default in China
After seeing an earlier bond default averted, investors have come to see light at the end of every potential bond default in China
April 08, 2015

The market's reaction so far to Cloud Live Technology Group’s missed bond repayment shows onshore credit market needs a real default to break investors’s belief in the Chinese state's implicit guarantees.

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