China property, Russia drive emerging market Q3 corporate defaults - JPMorgan

LONDON : Defaults among emerging market companies continued to pile up in the third quarter due to troubles in Russia as well as China's property sector, with the volume of bonds trading at distressed levels close to record highs, JPMorgan said on Tuesday.

"Russian corporate default activity has been dominated by payment delays and consent solicitations to either extend grace periods or add alternative payment options, which led to inclusion of such bonds in our default metrics," Alisa Meyers wrote in a note to clients.

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