Corporate debt investors face the prospect of rising defaults from China and the US junk bond market, according to Standard & Poor’s, a twin threat representing an inflection point in the current credit cycle.
China ranks as the largest corporate debt market and continues to grow, with its debt pile representing 160 per cent of its economy.
S&P estimates that companies will need to sell $57tn of debt by 2019, with 40 per cent of that from China and 21 per cent from the US.
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