A Santayana Moment with Chinese Property Bonds – Flashback 2011
“Those who do not remember the past are condemned to repeat it”
It is often instructive to take a step back into recent history and think about fixed income when panic is all around. The last time panic hit the Chinese credit markets was less than 5 years ago.
Here’s a partial Chinese property credit run from October 7 2011. Do you remember how credits were trading that day?
Yesterday morning for the same names.