Evergrande DEFAULT confirmed

radex78 · Dec 9, 2021

I hear the rumor about Evergrande a few months ago, but I am not following the latest news of this company, but I am read if this company's bankruptcy impact on emerging countries maybe occur, I just think it will impact to currency.

maxinger · Dec 9, 2021

and China A50 index futures continue to go up, 6 days in a row.

nooby_mcnoob · Dec 9, 2021

Overnight said:
Gee, just in time for the Fed tightening cycle, which will make buying homes/property here at home more expensive. The fun never ends. Time to long the shit out of banks.

Don't be so sure. They're looking for excuses to keep the party going. This will give them that excuse.

ipatent · Dec 9, 2021

nooby_mcnoob said:
Don't be so sure. They're looking for excuses to keep the party going. This will give them that excuse.

Omicron is another excuse, but there's going to be a public outcry about inflation before long.

nooby_mcnoob · Dec 9, 2021

ipatent said:
Omicron is another excuse, but there's going to be a public outcry about inflation before long.

They will just tell the little people there is no inflation.

Overnight · Dec 9, 2021

nooby_mcnoob said:
Don't be so sure. They're looking for excuses to keep the party going. This will give them that excuse.

Mmmm. I expect the DOW to get spicy next week. Or at least the financial sector of S&P

JSOP · Dec 9, 2021

This article actually outlines a list of coupon payments coming up for dollar-bonds held Evergrande: https://www.reuters.com/markets/rat...-coupon-payments-through-may-2022-2021-12-07/

The next coupon payment coming up is for $255.2 million due on Dec. 28. Seriously doubted that Evergrande is going to be able to pay that one unless the CCP injects more money into the business considering it just defaulted on the $82.5 million in interest payments that were due last month. And right now it's pretty much clear that CCP is not doing anything to bail out Evergrande. And just like I predicted before, CCP doesn't give a s*** about foreign investment anymore. It's basically making sure its domestic investors are made whole and that's it.

The market has pretty much priced that in now; it didn't move at all with that news. Everybody is now obsessed with omicron and the Fed, again.

virtusa · Dec 10, 2021

JSOP said:
And right now it's pretty much clear that CCP is not doing anything to bail out Evergrande. And just like I predicted before, CCP doesn't give a s*** about foreign investment anymore. It's basically making sure its domestic investors are made whole and that's it.

People who invest in China or Russia are idiots. Everybody knows that these countries will change/manipulate laws to take maximal advantage of the foreign capital. There are no legal certainties in these countries. So what is yours today can be theirs tomorrow, they just change laws to make it a legal scam. If you are lucky you don't end up in jail.

Swiss_cheese · Dec 10, 2021

Time to cash out on some stocks?