The amount of negative-yielding bonds globally have jumped 47% to more than $12 trillion this year as signs that the Federal Reserve and the European Central Bank will ease spurred a bond rally.
SHANGHAI: After record defaults on China’s bonds, there’s now record interest in trading the country’s distressed debt.
An arm of the central bank that runs the biggest bond-trading platform last month conducted the third auction of distressed securities since July. This one had the biggest participation yet, spanning 43 institutions. While prices of the trades were published by the China Foreign Exchange Trade System (CFETS), the counterparties’ names were kept secret to maximise deals.
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