Silence Isn’t Golden On Missing Evergrande Coupon

Silence. That's what the market heard from Evergrande, which was supposed to make an $83.5 million coupon payment on a dollar-bond Thursday. Workers at the company's EV business are in the same unenviable situation as bondholders. That is, they're not being paid. After a farcical Thursday rally, Evergrande's stock and bonds fell Friday. The EV venture dove 25%. The charts are mostly meaningless (figure below). The company, and anything to do with it, is mostly insolvent. Now, the question