News Snapshot:
SINGAPORE/SHANGHAI (BLOOMBERG) - Even by the standards of a record-breaking global credit binge, China's corporate bond tab stands out: US$1.3 trillion (S$1.7 trillion) of domestic debt payable in the next 12 months. That is 30 per cent more than what United States companies owe, 63 per cent more than in all of Europe and enough money to buy Tesla twice over. What is more, it is all coming due at a time when Chinese borrowers are defaulting on onshore debt at an unprecedented pace. The combination has investors bracing themselves for another turbulent stretch for the world's second-largest credit market....
