How Bond Defaults Are Changing China's Markets
Odd Lots2 Dec 2019

How Bond Defaults Are Changing China's Markets

For years, defaults were few and far between in China's corporate bond market. Most investors thought that the Chinese government would never let companies — whether they be state-owned enterprises (SOEs) or private businesses — actually default on their debt. But times have changed. Defaults by private companies have been rising and there's even a question mark over the implicit government guarantee in debt sold by SOEs. One state-owned enterprise in Tianjin has proposed a 64% haircut for bond investors, in what could amount to the first de facto default by an SOE in more than two decades. On this week's episode of the Odd Lots podcast we speak with Jun Pan, Professor of Finance at Jiao Tong University, about her recent research examining what China's corporate bond prices are actually telling us about the health of its companies and wider economy.

See omnystudio.com/listener for privacy information.

Avsnitt(1193)

Legendary Hacker Matt Suiche on Cyberwar in the Age of AI

Legendary Hacker Matt Suiche on Cyberwar in the Age of AI

We tend to think of warfare in two distinct arenas: the physical and the digital. Increasingly, however, those lines are blurring. Last week, Iran launched drone strikes on data centers in the UAE and...

12 Mars 49min

War in Iran Is Creating a Fertilizer Crisis Like Never Before

War in Iran Is Creating a Fertilizer Crisis Like Never Before

We all know that the war with Iran has sent oil prices spiking. But it’s also pushing up the cost of all sorts of chemicals, including fertilizers like urea, ammonia and other nitrogen products that a...

11 Mars 30min

Rory Johnston on How Oil Could Surge to Over $200 a Barrel

Rory Johnston on How Oil Could Surge to Over $200 a Barrel

Oil has obviously spiked massively since the start of the war with Iran. And if you look at various end products, such as jet fuel, the surge is even more extreme. And if the war is prolonged, or if t...

10 Mars 36min

Robinhood CEO Vlad Tenev on Tokenization and Prediction Markets for Everything

Robinhood CEO Vlad Tenev on Tokenization and Prediction Markets for Everything

Last year, we had Robinhood CEO Vlad Tenev on the podcast to talk to us about his company's plans to tokenize shares of private companies. The idea is that retail investors want to participate in hot ...

9 Mars 51min

Henry Blodget on the Software Selloff Hysteria and the Problem for OpenAI

Henry Blodget on the Software Selloff Hysteria and the Problem for OpenAI

A year ago, all of the talk was about how the big AI companies were wildly overvalued. Everyone was calling it a bubble. Fast forward to now, and a dominant idea in the markets is that AI is so powerf...

7 Mars 45min

Lots More on the Seaborne Chaos Around the Strait of Hormuz

Lots More on the Seaborne Chaos Around the Strait of Hormuz

With war breaking out in Iran, the price of oil is surging, in part due to the destruction of oil energy infrastructure, but also the ability of anything to get through the Strait of Hormuz. But it’s ...

6 Mars 30min

Former Goldman Sachs CEO Lloyd Blankfein on Why He Doesn't Tweet

Former Goldman Sachs CEO Lloyd Blankfein on Why He Doesn't Tweet

Lloyd Blankfein was CEO of Goldman Sachs for more than a decade, riding the trading boom to the top of the storied investment bank and steering it through the 2008 financial crisis. In his new memoir,...

5 Mars 47min

How the Speed of a Trade Got Down to Nearly the Speed of Light

How the Speed of a Trade Got Down to Nearly the Speed of Light

The average person can enter a stock trade on their computer, hit refresh, and the trade is done. As fast as that seems, there are professional traders moving even faster, executing thousands of trade...

2 Mars 55min

Populärt inom Business & ekonomi

framgangspodden
varvet
rss-jossan-nina
svd-tech-brief
badfluence
rss-svart-marknad
uppgang-och-fall
bathina-en-podcast
avanzapodden
tabberaset
rss-inga-dumma-fragor-om-pengar
24fragor
rss-kort-lang-analyspodden-fran-di
rss-borsens-finest
rss-dagen-med-di
kapitalet-en-podd-om-ekonomi
borsmorgon
fill-or-kill
rss-veckans-trade
lastbilspodden