Washington invoked what BBG called “the nuclear option” Thursday night, meaning that a new prohibition on sales of components to the Chinese telecom giant will take place on Friday. As investors question how Huawei will adapt, or whether this new status might have serious repercussions for its business, the company’s dollar-denominated bonds saw their largest drop on record.
The company’s 4% due-2027 notes plunged by a record 2.1 cents to 94 cents on the dollar as of 3:49 am in Hong Kong, their lowest level in two months.
The drop outpaced the declines in Asian equity and currency markets, which have been reeling from Beijing’s aggressive trade rhetoric.
via ZeroHedge News http://bit.ly/2JIE8Ym Tyler Durden