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Huarong: Sell on Tight Valuation, Reg Risk, Supply

IG Note: 11 Aug 2017, 6:01 AM ET
Printed for x x

We would reduce exposure to Huarong and Cinda senior bullets on the back of (i) spreads are back to historical tight levels against state bank senior; (ii) regulatory changes that could reduce their strategic importance; (iii)  supply.

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