Those exposed to Evergrande’s USD bonds and Evergrande shareholders are likely to be hardest hit by the China Evergrande deal.
and Royal Canadian Bank is the second largest bondholder? eeeks
Why is that a surprise or an "eeks"? RBC is a leading capital markets player and has a fortress balance sheet. Even if their position got wiped out, it wouldn't a dent in their balance sheet. If anything, now is the time to buy bonds at a discount (which many banks and funds have been doing) and back the Chinese government's motivation to put things back in order.
