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Kyle Bass still short yuan, says China credit bubble ‘metastasizing’

June 15, 2017 By Jennifer Ablan NEW YORK (Reuters) – Hayman Capital Management founder Kyle Bass on Thursday said he remains short the Chinese yuan despite the country’s latest change to the guidance rate, because he believes credit bubble problems are “metastasizing.” “What the public narrative is and what they have been doing behind the scenes are two completely different stories,” Bass said in a telephone interview. “China has been masterful controlling the public narrative. As a fiduciary, I have no idea how anyone can invest in China.” Famed for…

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Moody’s China downgrade ‘illogical’, overstates debt: People’s Daily

May 25, 2017 SHANGHAI (Reuters) – The decision by Moody’s Investors Service to downgrade China’s credit rating is “illogical” and overstates the levels of government debt, a commerce ministry researcher said in an editorial in the official People’s Daily newspaper on Thursday. Mei Xinyu, a researcher at China’s Ministry of Commerce, wrote in a front page editorial of the paper’s overseas edition the downgrade, Moody’s first for China since 1989, overstated China’s reliance on stimulus and the country’s debt levels. Moody’s downgraded China’s credit ratings on Wednesday for the first…

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