Evergrande Update 2: Is The Contagion Spreading?

How will Evergrande's default affect other markets?

Evergrande is back in the headlines after a few weeks out of the media spotlight, with scrutiny being shifted to fellow developer Kaisa instead. Unfortunately, the period of calm seems to have ended, with Evergrande reported to have finally failed to make coupon payments at the end of a 30 day grace period. How are markets currently pricing the potential for widespread contagion?

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