“The potential amount of debt is an iceberg with titanic credit risks,” S&P credit analysts led by Gloria Lu wrote in a report Tuesday.

With the national economy slowing, and a Beijing-set quota for issuance of local-government bonds not being enough to fund infrastructure projects to support regional growth, authorities across the country have resorted to LGFVs to raise financing (Local Government Financing Vehicles)

Because foreign-law bonds are often priced in a foreign currency, we need to adjust the observed yields for the currency premium

overview of bayesian optimization by the author of Spearmint

Snoek 2012 paper
code here: http://www.cs.toronto.edu/˜jasper/software.html
TPA: https://github.com/jaberg/hyperopt/wiki

DeepMind's paper on bayesian optimization