Beware China s skeletons in the closet

Miles Geldard, head of fixed income and multi-asset at Jupiter Asset Management, tells Gary Shepherd to expect more defaults in China, after its years of investment boom and credit creation.

Beware China s skeletons in the closet

|

However, while he warns of more “skeletons in the closet” in the market, he does not expect a generalised systemic collapse of the Chinese financial system.
Geldard also reflects on last year’s taper tantrum which caused serious disturbances in emerging market bond markets, but has caused pockets of value in local currency areas which he and his colleagues are looking to exploit.