LGFVs keep racking up commercial paper defaults
Subscribe to keep reading.
Trivium Markets keeps you briefed on the latest developments in China markets policy.
Already a subscriber? Log in.
Local government debt troubles intensified again last month, with defaults on commercial acceptance drafts (CADs) climbing back to record levels.
By the end of October, the number of local government financing vehicles (LGFVs) that have repeatedly defaulted on CADs rose to 84, equaling the record hi...