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Worst Isn’t Over for Chinese Bonds as Supply Surge Looms

  • Nearly $300 billion of local government debt matures in 2020
  • Record refinancing activity may keep sovereign yields up
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Photographer: Qilai Shen/Bloomberg
Bloomberg News
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A wall of maturing debt will soon add more strain to China’s sovereign-bond market, already under pressure from a global sell-off and rising inflation.