Ecco l'ultimo:
It Begins... Another High-Yield Chinese Shadow Banking Trust DefaultsVi avevo già anticipato le prime avvisaglie nel mio post: La Tempesta in atto sulle Economie e sulle Valute Emergenti...
While the eyes of the world were focused on the now infamous "Credit Equals Gold #1" Chinese wealth management product - it's imminent default and last-minute bailout by 'investors' unknown - the coal industry in China continued to collapse (as we noted here). We noted at the time how bailing out current high-yield product investors would merely amplify the problems down the line and it seems that Chinese authorities have heard that message.
As Reuters reports, a high-yield investment product backed by a loan to a debt-ridden coal company failed to repay investors when it matured last Friday, state media reported on Wednesday.
...............The bottom-line is that China seems to be testing the reaction of markets to small 'technical' defaults (such as this one)...
Technical defaults caused by repayment delays have occurred before, but market watchers say that China's shadow bank sector is still waiting for a precedent-setting default in which investors are forced to absorb substantial losses.
Such an event could shatter the widespread assumption that even high-yielding investments carry an implicit guarantee from state banks...............
....Oppure sotto a tutta 'sta tempesta dei mercati emergenti ci sta qualcosa di più?
Potrebbe essere che a fissare la ns. attenzione su Turchia, Argentina, Venezuela, Sudafrica, Indonesia, Brasile, Russia etc stiamo guardando solo ai "cerchi" che su uno stagno si allontanano dall'epicentro dove hai scagliato la pietra....
MENTRE l'epicentro mi puzza che potrebbe essere in CINA ..........................
