As the markets digest the news of defaults on Chinese SOE backed by provincial governments, investors have been selling high-rated

As the markets digest the news of defaults on Chinese SOE backed by provincial governments, investors have been selling high-rated state-owned-enterprise (SOE) bonds in provinces where local governments have poor reputations.
@Gavekal via @SoberLook https://t.co/kljh0fI1Z8

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