News is doing the rounds that evergrande is going to pay back the bonds and getting a restructuring.
This news only says it’s going to repay the China RMB denominated bond. Not the USD bond that’s held by major Western Hemisphere institutions.
This is the bond that can cause contagion.
The bail out also helps only Chinese retail investors. Currently no news about any bail out for USD bond holders. From basic estimates, it seems almost $60bn debt is held by a lot of US institutions like BlackRock, Goldman Sachs, Royal bank of Canada, US pension funds etc.