BlackRock scours junk for Chinese property treasure

BlackRock, the world's largest asset manager, is buying more debt from lower-rated Chinese property developers as a pickup in the economy cuts junk-bond yields to the lowest in almost eight years.

Speculative-grade notes sold by the nation's companies pay an average 7.63 per cent, down 713 basis points over the past year and the lowest since March 2005, according to Bank of America Merrill Lynch indices.

via Business feed http://www.scmp.com/business/banking-finance/article/1125885/blackrock-scours-junk-chinese-property-treasure