While concerns about the spillover from a messy collapse roiled markets on Monday, U.S. stocks were flat on Tuesday. Both bonds would default if Evergrande fails to settle the interest within 30 days of the scheduled payment dates. Evergrande missed interest payments due Monday to at least two of its largest bank creditors, Bloomberg reported https://www.bloomberg.com/news/articles/2021-09-21/evergrande-misses-loan-payments-to-banks-as-bond-deadlines-loom on Tuesday, citing people familiar with the matter. Citigroup Inc subsidiaries serve as trustee and payment agent for a China Evergrande bond that matures in March 2022 and has $83.5 million in interest coming due on Thursday. Mainland China's stock and bond markets, foreign exchange and commodity futures markets, which were closed Monday and Tuesday for Mid-Autumn Festival, resume trade on Wednesday, but Hong Kong's financial markets will be closed for a public holiday.

Source: The Star September 21, 2021 23:03 UTC