China's $1 Trillion Bond Leverage Unwinds as Pimco Senses Panic
- Investors get squeezed as bond prices fall, repo rates rise
- ``It looks like everybody is cutting their leverage''
A man walks over a bridge in front of the skyline of the Lujiazui Financial District in Pudong in Shanghai at dawn on Dec. 1, 2015.
Photographer: JOHANNES EISELE/AFP via Getty ImagesThis article is for subscribers only.
China’s bond traders are getting a painful lesson on the dangers of leverage.