Good read from the WSJ on the evolving story of Evergrande's slow collapse. We all thought this story was over a few months ago, but it isn't. The default exists in tranches. You have domestic vs international investors, plus you have Yuan vs Dollar denomonated debts. On top of that, Evergrande has a 30 day grace period to cure defaults. What we are seeing today are the deeper, more serious tranches go into default. With more to come. This story should not be written off!
