China Junk Bull Investor Sees Oversold Opportunities in GLP, Wanda
- Lombard Odier has added exposure to short-term China junk note
- ‘Significant sense of fatigue’ chased away many global buyers
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There’s little relief in sight for China’s beleaguered junk bond market but at least one fund manager thinks it’s time to buy.
Some high-yield bonds are attractive as prices have fallen enough and China’s growth is likely to pick up, according Dhiraj Bajaj, Lombard Odier (Singapore) Ltd.’s head of Asian fixed income. Prospects are less favorable for distressed names, he said.