If you think China’s equity bubble is scary, check out bonds

Burned by market: Tang Youyu, 73, wears a cowboy hat and sunglasses as he stands in front of an electronic board showing stock information at a brokerage house in Shanghai. Tang has lost over half of his money in the stock market but still hopes to win it back someday. He enjoys the atmosphere and the company of friends at the brokerage house. – Reuters

If you thought China’s equity bubble was scary, check out bonds

AS a rout in Chinese stocks this year erased US$5 trillion of value, investors fled for safety in the nation’s red-hot corporate bond market. They may have just moved from one bubble to another.