China Junk Bonds Gain Most in Almost a Decade on Evergrande News

China’s junk dollar bonds are set for their best week in almost a decade after news that China Evergrande Group paid a bond coupon before this weekend’s deadline, adding to a broader rally for Asian corporate debt.

High-yield U.S. currency notes from China have gained about 4.5 cents on the dollar this week after a jump on Friday, putting them on track for the biggest weekly gain since 2012, according to a Bloomberg index. Prices of junk notes in Asia as a whole rose by an average 2 cents Friday, according to traders, and they are set for the best ...