Poem About Losing Luck Goes Viral With China Credit Traders
- Builder Logan Group’s bonds fell as the bleak poem circulated
- Logan’s local-currency securities closed at record lows
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The mood in China’s credit market is such that a poem depicting the frailty of humans against cosmic forces has gone viral.
Traders circulated a screenshot Thursday of the bleak poem purportedly posted on WeChat by an official at Logan Group Co. The builder was once seen as one of China’s stronger developers but concern about its financial health has grown this year, and its local notes slid to record lows Thursday.