In an illustration of the growing market concerns surrounding Evergrande’s debt woes, the day after the news broke, global government bond markets declined, stocks sold off, and the US dollar rallied versus most currencies as investors rushed for safe heavens amid the selloff in global risk assets. Given reports that China's Ministry of Housing and Urban-Rural Development reportedly told a meeting of banks that Evergrande would miss loan repayments in late September, it seems crunch-time for the company is rapidly approaching.
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