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China's promise of a "comprehensive" package to address local debt issues has triggered a rush into bonds issued by local government financing vehicles (LGFV) as investors sense an implicit state guarantee for these provincial firms. Yields on LGFV bonds, which account for half of China's corporate bond market, have dropped to their lowest levels this year, even as a debt crisis in the property sector that most of them are exposed to deepens. Data from Chinabond, a platform that's part of the China Central Depository and Clearing, shows spreads on one-year AA- rated ...

China's promise of a comprehensive package to address local debt issues has triggered a rush into bonds issued by local government financing vehicles as investors sense an implicit state...

The turmoil highlighted how regulatory action in China can come with little warning and in a seemingly arbitrary manner.

Several Chinese data vendors are showing or will soon start to show bond quotes from all six of the country’s fixed-income brokers, wider distribution than before a sudden suspension of data feeds last week rocked the nation’s $21 trillion debt market, reports Bloomberg. China Foreign Exchange Trade System told Bloomberg News that its iDeal platform…

China’s onshore bond traders were once again able to access bond data feeds on Friday, after a sudden regulatory ban earlier this week roiled the nation US$21 trillion bond market.