A surprise default by Chinese developer Fantasia Holdings Group Co. has intensified concerns about the nation’s property sector, as peers face billions of dollars in maturing debt next year, according to Goldman Sachs Group Inc. analysts.
Chinese junk bonds in the U.S. currency dropped as much as five cents on the dollar Thursday, according to traders. That’s after a slide in prices pushed average yields to a decade high of nearly 16% on Wednesday, according to a Bloomberg index. Worries about a possible default by housing giant China Evergrande Group, the biggest issuer of junk dollar notes in Asia, ...
