Evergrande And Kaisa Group Officially Default: Hard Landing Or Soft?

 Well, the inevitable has finally happened. Evergrande has officially defaulted along with the Kaisa Group.

Now, we wait for the contagion. What companies..banks....certain crypto groups (hello tether) are holding Evergrande's worthless commercial paper.

https://www.reuters.com/business/chinas-kaisa-kicks-off-12-bln-debt-restructuring-after-missing-pay-date-source-2021-12-09/