The crazed Chinese stock rebound of the past few days is typical not of recovery but bear markets. Moreover, although property equity has surged, junk dollar debt hasn’t moved at all:
Here’s the buzz:
Chinese property developers rallied for a second straight day on Thursday, with many homebuilders skyrocketing by more than 40%, after the country’s top regulators threw the struggling real estate sector a lifeline amid growing pressures at home and abroad.
