Chyyyyyyyna

[regor]

Evergrande Bonds Halted Amid Liquidation Panic As Contagion Spreads To Other Chinese Junk

D-Day for "China's Lehman" may have finally arrived.
MON SEP 6, AT 8:40 AM


With algos busy chasing upward momentum in futures and global stocks, the biggest - if largely ignored story - remain the ongoing collapse of "China's Lehman", the $300+ billion China Evergrande, where following our earlier reports (see below) that a bank run emerged among creditors of the biggest and most indebted Chinese developer as its bonds were no longer eligible collateral in the repo market after a ratings downgrade, on Monday the rout went from bad to catastrophic as various Evergrande bonds crashed amid a liquidation frenzy, prompting China's stock exchanges to halt trade.

The Shanghai Stock Exchange said in a statement that it had temporarily suspended trading in China Evergrande Group's 6.98% July 2022 corporate bond following "abnormal fluctuations." The exchange had also suspended trading in the bond on Friday.




Shanghai exchange data showed the bonds sliding more than 25% to a low of 40.18 yuan after the resumption of trade on Monday afternoon. The company's 5.9% May 2023 Shenzhen-traded bond , which was also suspended, fell more than 35% after trading resumed. China Chengxin International Credit Rating Co (CCXI) downgraded Evergrande and its onshore bonds to AA from AAA on Thursday, and placed the company and its bonds on a watchlist for further downgrades, effectively freezing the company out of the repo market.


Wealthy investors are demanding repayment and might not get it?!!!!!

So sad.

 

[monkeyswrench]

That's just a damn shame...

 

[Backlash]

Evergrande....worthless. Just like the rest of the 'quality' products that are "Made in China."

 

[regor]

Evergrande Bonds Tumble After Report Of Technical Default; Contagion Slams China Property Market

Evergrande plans to suspend interest payments on loans from two banks due Sept. 21, and asked a lender to wait for instructions about an extension plan.
WED SEP 8, AT 6:51 AM

The insolvent Evergrande has become one of the biggest financial worries in China, the epicenter of a potential default shockwave given its massive pile of $305 billion in liabilities to banks, shadow lenders, companies, investors, vendors and home buyers. Investor fears that a default is imminent have led to a crash in the firm’s bonds in recent weeks, which are now trading as if the company is already broke, and triggered fears about contagion risk in the broader credit market.

 

[dnewps]

Thanks Regor! PAY ATTENTION FOLKS...This could be the catalyst for our markets. If you look at the US GDP updated number from Atlanta fed...the Economy is not doing well and the stock market has not caught up. Our bond market HAS (10 year treasuries.)

we are not looking at inflation...it’s deflation that is right around the corner.

 

[monkeyswrench]

Thanks Regor! PAY ATTENTION FOLKS...This could be the catalyst for our markets. If you look at the US GDP updated number from Atlanta fed...the Economy is not doing well and the stock market has not caught up. Our bond market HAS (10 year treasuries.)

we are not looking at inflation...it’s deflation that is right around the corner.

Don't worry about it! The smart people say it'll just be a "small correction"...

 

[hallett21]

Do they have a large amount of US investments?


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[HotRod82]

Thanks Regor! PAY ATTENTION FOLKS...This could be the catalyst for our markets. If you look at the US GDP updated number from Atlanta fed...the Economy is not doing well and the stock market has not caught up. Our bond market HAS (10 year treasuries.)

we are not looking at inflation...it’s deflation that is right around the corner.

I've been preaching this for the past year ....the fact you cannot go down to the Ford dealership and buy a new F150 is an absolute death sentence to a good economy. Lack of sales due to people being broke and lack of sales because of material shortages are two very different things. Amazing how many people are ignoring the GDP number. I'm not saying it's going to crash, but all the ingredients are there for a serious correction.

 

[regor]

Do they have a large amount of US investments?


Sent from my iPhone using Tapatalk

I don't believe so, they hold Chyna's ghost cities. The group is also involved in property construction, hotel operations, finance business, internet business, and health industry business.

 

[regor]

I've been preaching this for the past year ....the fact you cannot go down to the Ford dealership and buy a new F150 is an absolute death sentence to a good economy. Lack of sales due to people being broke and lack of sales because of material shortages are two very different things. Amazing how many people are ignoring the GDP number. I'm not saying it's going to crash, but all the ingredients are there for a serious correction.

Beige Book Reveals Not Just Stagflation But Record Shortages Of Everything

Venezuela here we come.
WED SEP 8, AT 11:19 AM

 

[regor]

Zerohedge

ZeroHedge - On a long enough timeline, the survival rate for everyone drops to zero

www.zerohedge.com

Look out below!!!

 

[dnewps]

Short the market

 

[pronstar]

Zerohedge

ZeroHedge - On a long enough timeline, the survival rate for everyone drops to zero

www.zerohedge.com

Look out below!!!

View attachment 1049064

The virus was released to control Hong Kong (and other) protesters. Let’s not forget that at the time, there were an estimated 7 million people protesting government controls in countries all over the world.

If these turn into more “hit the street” protests, I guarantee you that we’ll see some new covid variants that are so contagious, they’ll require even more draconian lockdowns.


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[regor]

The virus was released to control Hong Kong (and other) protesters. Let’s not forget that at the time, there were an estimated 7 million people protesting government controls in countries all over the world.

If these turn into more “hit the street” protests, I guarantee you that we’ll see some new covid variants that are so contagious, they’ll require even more draconian lockdowns.


Sent from my iPhone using Tapatalk Pro

Yep those protests were a threat and now they're threatening to fly fighters over mainland Taiwan yesterday.

China Threatens Drastic Action If Taiwan Changes Name Of D.C. Office: 'We'll Fly PLA Jets Directly Over Island'

Chinese state media lashes out over reports the US is "seriously considering" adding "Taiwan" to name of diplomatic office...
MON SEP 13, AT 10:30 AM

 

[was thatguy]

My Chinese crypto is languishing.

 

[regor]

My Chinese crypto is languishing.

Have you tried new soy sauce?

 

[was thatguy]

Have you tried new soy sauce?

Yes, I even switched egg roll brands...

 

[regor]

Evergrande Suspends Trading In All Bonds


Earlier today we pointed out that in what can (obviously) only be a remarkable coincidence, China's largest, and most systematically important real estate developer, China Evergrande (and its $300+ billion in debt), collapsed on the 13th anniversary of Lehman's bankruptcy filing, when Beijing told Evergrande's creditor banks that the insolvent company, which recently hired Houlihan Lokey as bankruptcy advisor, would not pay interest on its debt next week, nor would it repay principal, in effect previewing the coming technical default.

And yet there was some trace of hope, because as Forte Securities trader Keith Temperton said "The Asian banks will get hit hard if there's a default, but then there will be a 10-year recovery process. The market's getting a hang of it. The way they've managed the news flow seems quite clever. They haven't let a swathe of bad news at once" giving investors and creditors some hope that the money could still miraculously reappear.

Not any more: in an exchange filing on Thursday, Evergrande's main unit (onshore real estate) said that trading in all of its onshore bonds would be suspended on Sept 16 to ensure fair information disclosure following a downgrade to A from AA (which in China is viewed as the lowest investment grade rating) by China Chengxin International, to wit:

 

[regor]

The Ultimate Contagion: China Sovereign Risk Is Starting To Blow Out

"Something historic will happen this week..."
MON SEP 20, AT 7:15 AM


And Another: Shanghai-Based Property Developer Crashes 87% In Minutes Before It Is Halted

"It’s the same story as everywhere else -- investors are concerned about the liquidity,"
MON SEP 20, AT 7:09 AM

 

[SNiC Jet]

The Ultimate Contagion: China Sovereign Risk Is Starting To Blow Out

"Something historic will happen this week..."
MON SEP 20, AT 7:15 AM


And Another: Shanghai-Based Property Developer Crashes 87% In Minutes Before It Is Halted

"It’s the same story as everywhere else -- investors are concerned about the liquidity,"
MON SEP 20, AT 7:09 AM

Hoe-Lee-Chit China Man!

 

[monkeyswrench]

I'm not an economist, or investor type, but this effects "the world market" doesn't it? China's economy is built on a solid foundation of BS, and ours isn't much different. If one starts circling the drain, won't the other follow?

 

[SNiC Jet]

I'm not an economist, or investor type, but this effects "the world market" doesn't it?

That would be a YES!

 

[monkeyswrench]

Ouch, that was quick. Now we see how deep the cut is, or if it's just a bleeder.

That would be a YES!

View attachment 1051340

 

[t&y]

Wow... 700 points in the morning trading? Damn.

 

[was thatguy]

Is this why my crypto is getting hammered?

 

[RadMan]

But how will this impact the Dinar

 

[SNiC Jet]

Ouch, that was quick. Now we see how deep the cut is, or if it's just a bleeder.

IMO, it is all a "House of Cards" siting on top of a giant bubble

 

[regor]

Wow... 700 points in the morning trading? Damn.

Is the Fed going to buy the dip and save the markets once again?

This is looking familiar, the "free market" capitalists knew...................

Six Evergrande Execs Face 'Severe Punishment' Over Early Redemptions For Themselves

Big Lehman vibes...
MON SEP 20, AT 9:10 AM

 

[pronstar]

I'm not an economist, or investor type, but this effects "the world market" doesn't it? China's economy is built on a solid foundation of BS, and ours isn't much different. If one starts circling the drain, won't the other follow?

Is all of history, there’s are exactly zero fiat currencies that have not failed.

Zero.

And now we’re awash in fiat currencies…


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[just_floatin]

New World Order starts with a Great Depression to execute the reset, but I could be wrong

 

[regor]

New World Order starts with a Great Depression to execute the reset, but I could be wrong
View attachment 1051377

The shit storm we are in for from an economic collapse isn't even close to what we are currently witnessing in this country. It is the trigger of all triggers and this country will lose their fucking minds!!!

They're going to pull the plug at some point and when they do, it will be pure chaos with the mental state of today's pussified citizenry.

 

[just_floatin]

 

[pronstar]

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[Sandlord]

Here comes the BIG BIDEN BAILOUT

 

[4Waters]

Here comes the BIG BIDEN BAILOUT

Doesn't have any money, can't even send out checks for his infrastructure bill, anyone with 3% of their brain working saw this coming.

 

[HotRod82]

Pretty soon, the "experts" will begin talking about a "soft landing" like they did in 08.

 

[Sandlord]

Doesn't have any money, can't even send out checks for his infrastructure bill, anyone with 3% of their brain working saw this coming.

well the infrastructure bill is for America,
He’ll need a different bill for China, and what congressperson wouldn’t approve that?

 

[just_floatin]

Doesn't have any money, can't even send out checks for his infrastructure bill, anyone with 3% of their brain working saw this coming.

The US government can barely keep the lights on . Build back Better - world

 

[spectra3279]

The US government can barely keep the lights on [emoji1787]. Build back Better - [emoji1782]world
View attachment 1051444

Fuckem. Let them go bankrupt. Then kick their asses to the curb after confiscating all their property to pay for the debt they have incurred.

Sent from my SM-G973U using Tapatalk

 

[regor]

Evergrande Auto Hasn't Sold A Single Car, But Has Enriched Its Founder And His Friends Plenty


One "friend" of the founder bought 80 million shares in the company before it was renamed as Evergrande Auto for HK$0.30 each. They then sold them all for HK$50 per share, netting the friend more than HK$4 billion.

THU SEP 23, AT 4:20 PM

mUh fReE mArKeT sTiFfInGs

 

[regor]

"It's A Disastrous Day" - All Hell Breaks Loose In China's Bond Markets​

"Evergrande's contagion risk is now spreading across other issuers and sectors"

MON OCT 11, AT 10:05 AM

 

[Universal Elements]

"It's A Disastrous Day" - All Hell Breaks Loose In China's Bond Markets​

"Evergrande's contagion risk is now spreading across other issuers and sectors"

MON OCT 11, AT 10:05 AM

Don’t worry, won’t affect Jao’s Build Back Better plan whatsoever

 

[regor]

Don’t worry, won’t affect Jao’s Build Back Better plan whatsoever

Why do you hate Chyyyyyyyyyyyyyyyna.............................RACIST?!!!!!!!!!!

 

[Universal Elements]

Why do you hate Chyyyyyyyyyyyyyyyna.............................RACIST?!!!!!!!!!!

Because I Kolllean. They copy my Hi-u-die & Klia cars and make lotta of money. Stealing bastards. You a Commie sympathizer, affliliator, promoter, enfluencer or just love wonton soupy?

 

[regor]

Evergrande Shares Tumble On Sale Failure, 97% Plunge In Sales As Markets Brace For Chinese Default Avalanche​

“To say that China HY (high yield) -- especially the China HY property sector -- is having a tough year would be an understatement. 2021 is shaping up to be a huge test for the asset class.”

THU OCT 21, AT 11:20 AM

 

[regor]

Evergrande Makes Another Last Minute Interest Payment After Selling Private Jets, Pledging Chairman's Mansions​

Customers of international clearing firm Clearstream received overdue interest payments on the three U.S. dollar bonds issued by Evergrande

WED NOV 10, AT 1:30 PM

Xi is the man on this and I would LOVE to see that happen here when the money changing scum screw us all over again.

 

[pronstar]

China issuing US Dollar bonds tells me all I need to know about the yuan’s chances to become a reserve currency

 

[c_land]

Evergrande Makes Another Last Minute Interest Payment After Selling Private Jets, Pledging Chairman's Mansions​

Customers of international clearing firm Clearstream received overdue interest payments on the three U.S. dollar bonds issued by Evergrande

WED NOV 10, AT 1:30 PM

Xi is the man on this and I would LOVE to see that happen here when the money changing scum screw us all over again.

They'll go down, they are just kicking the can at this point.

 

[regor]

They'll go down, they are just kicking the can at this point.

That's fine, just take the all the boards assets before they do please.

 

[regor]

China's Property Sector Is Crashing Again And This Time It Has Reached The Country's Biggest Developer​

Is this China's Lehman moment?

MON JAN 17, AT 6:05 PM