There are still plenty of buyers for mainland homes, but the cyclical nature of the industry means investors holding developers' bonds must be on their guard. Photo: Reuters

Risks hang over surge in high-yield bonds

Mainland developers dominate this year's issuance, more than half of which is unrated, heightening fears about a slump

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There are still plenty of buyers for mainland homes, but the cyclical nature of the industry means investors holding developers' bonds must be on their guard. Photo: Reuters
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