The start of the Evergrande endgame is lastly edging into view, simply as China strikes extra decisively into financial easing mode.
Haircuts are across the nook: at the least for these unfortunate sufficient to have purchased Evergrande’s offshore bonds close to full value. A well timed reduce to Chinese language banks’ reserve-requirement ratios, introduced Monday night, could also be partly aimed toward soothing markets forward of any additional Evergrande-related turbulence.