High-Yield Bonds Fall as Home Sales Slump: Evergrande Update
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China’s struggling real-estate firms had another miserable month in November as a slump in home sales deepened.
The country’s builders are facing $12 billion in trust payments coming due in December, posing a major challenge for an industry whose liquidity squeeze has spooked global markets. Private-sector developers are selling the fewest bonds domestically in nearly five years, adding to the risk of additional defaults.