19 Dec 2016
It all turned on a rumour but a bond market meltdown last week has revived long-standing calls for an overhaul of the siloed regulatory system to stop risks spreading from one industry to another.
Rumours began circulating on Wednesday night of a “problematic” multibillion yuan bond issue. That speculation compounded the pressure from the US Federal Reserve’s decision to raise rates, sending China’s government bond futures down to their daily limits a few minutes after opening on Thursday.
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