Salient to Investors:
Tim Jagger at Aviva Investors Asia said the economic data since November has silenced many China bears, and China’s property companies have never had the opportunity to fund at such attractive rates.
Jim Chanos at Kynikos Associates warned last month of a credit bubble, and said profits at Chinese companies may be skimmed to the benefit of the elites.
Crystal Zhao at HSBC said better sales volumes at developers has improved sentiment in the sector.
Brayan Lai at Jefferies Group said that at least in the China property space, there’s definitely a sense of indigestion because people expect a huge pipeline.
Standard Chartered said in November that debt in China likely rose 15 percent in 2012 to 206 percent of GDP versus 150 percent in 2003.
EPFR Global said flows into emerging-market bond funds hit a 50-week high last week.
Neal Capecci at Manulife Asset Mgmt said there’s just a lot of cash chasing the sector.
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