BlackRock Cautious as Sales End Dollar Bond Rally: China Credit – Bloomberg 01-31-13

Salient to Investors:

Suanjin Tan at BlackRock said the avalanche of new deals has investors fatigued, and continued home-price restrictions and a slowing economy means being selective. Tan sees a big mindset shift in the past year with fears of a huge property market collapse in China gone: the risks are there but very few people see a catastrophic scenario caused by ghost cities in the near future.

Owen Gallimore at Australia & NZ Banking said that if US Treasuries start offering more decent yields again you are going to really question why you own a Chinese high-yield property bond.

Fitch says residential property sales in China will rise in 2013 driven by improved funding availability to developers.

Read the full article at http://www.bloomberg.com/news/2013-01-31/blackrock-cautious-as-sales-end-dollar-bond-rally-china-credit.html

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