Chinese Corporates To Default On 40% Of Stressed Dollar Bonds Next Year, Bloomberg Imagines

Apparently, the market will witness a wave of defaults by Chinese corporates on distressed dollar debt in 2020. That's the overall thrust of a Bloomberg article that garnered some attention on Thursday. According to the piece, around $8.6 billion in offshore bonds that come due next year sport yields of 15% or more. That's a big chunk of the total outstanding stock of stressed dollar debt. Why is this a problem (beyond the obvious, that is)? Well, because despite the intractable trade war