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Bond Market News
Huarong’s Dollar Bonds Drop Over 2-4% Across the Curve
July 11, 2023
Dollar bonds of Huarong have dropped by 2-4% across the curve. The reason for the sell-off is not clear as no specific details have emerged yet. Huarong’s dollar bonds were among the top gainers in Q2 having rallied over 7% as its rating downgrade from investment grade to high yield territory caused a surge in demand from high-yield funds. This was because Huarong is considered to be one of the “highest-quality” names in the sector.
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