Evergrande crisis isn't China's 'Lehman moment' for Citi, Barclays

China Evergrande Group’s debt crisis is unlikely to become China’s “Lehman moment,” according to strategists at Citigroup Inc., Barclays Plc and UBS Group AG.

Barclays argues the market environment isn’t similar to what happened during the collapse of Lehman Brothers, UBS says the default levels are pretty low versus the size of China’s economy and Citi expects the policy makers to step in.

“The conditions are simply not in place for even a large default to be China’s Lehman moment,” Barclays macro strategists including New York-based Ajay Rajadhyaksha wrote in a note on Monday. One would need to see a