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Indian Refinancing of Non-Rupee Loans at Three-Year Low: Chart

Indian companies are rolling over the smallest amount of foreign-currency syndicated loans in three years after interest rate hikes by the Federal Reserve pushed borrowing costs to an almost nine-year high. The three-month London interbank offered rate climbed to 1.36 percent this month while refinancings by Indian firms have fallen

American Households Spend Bigger Slice of Income on Debt Payments

Families making between $25,300 and around $43,000 devoted 15.6 percent of their income to paying their debts last year, the first increase since 2010, and a factor that may be contributing to rising consumer default rates, according to Moody’s Investors Service. Debt levels for these households are rising even as the broader

How Bonds Will Trade Trump’s Fed Pick Based on Volcker, Bernanke

If history is any guide, bond traders will be in for a volatile few days if Kevin Warsh is selected as the next leader of the Federal Reserve. Or, it’ll be smooth sailing in the $14.1 trillion Treasuries market if President Donald Trump taps Jerome Powell or Janet Yellen.Strategists at Nomura

Catalan Separatists Tap Brakes as Banks Consider Departure

Separatist leaders in Catalonia are seeking to avoid an immediate declaration of independence from Spain as officials in Madrid and business leaders in Barcelona ratchet up pressure on the nationalist camp.With the movement’s leaders divided on the issue, some on the Catalan side want to create more time for a

No U.S. Bailout for Puerto Rican Debt, Trumps Budget Chief Says

President Donald Trump’s budget chief said not to take literally the president’s suggestion that Puerto Rico’s debt would be “wiped out,” even as the territory’s bonds plunged to a record low on Wednesday: 32 cents on the dollar."I think what you heard the president say is that Puerto Rico is

Japanese Megabanks’ Tight Spot

No joy at home, and little more abroad.That's the situation facing Japan's megabanks, which have bet big expanding overseas only to find gains elusive. At the same time, they're not benefiting from the pickup in household lending domestically. Prime Minister Shinzo Abe's decision to call a negative interest rates, introduced in early

Catalans Signal They May Declare Independence Within a Week

Catalan separatist leaders signaled they may be moving toward a unilateral declaration of independence as early as this week after hundreds of activists were injured on Sunday as they sought to stop Spanish police from shutting down an illegal referendum.Catalan President Carles Puigdemont appealed to the European Union for support

Investors Expect a Stock Market Plungeand Theyre Ready to Buy

Investors expect the stock market to plunge. Their response: Whatever.A little more than half of U.S. investors anticipate a decline this year that will wipe out “significant gains,” according to the latest Wells Fargo/Gallup poll results. That’s fully 54 percent of the respondents, though down from previous survey highs in 2013 (62 percent) and 2014 (58 percent).Yet just

Investors Seeking Green Assets Make Companies (Somewhat) Cleaner

Growing investor appetite for low-carbon assets is pushing companies to hasten their transition to clean energy, but not nearly fast enough.About 68 percent of global investors intend to increase green investments and one-in-two companies has a strategy to reduce their environmental impact, according to a survey commissioned by HSBC Plc

Puerto Rico’s Economic Crisis Grows in Maria’s Wake

All of Puerto Rico has lost electricity. Entire towns are swamped in the deluge. Streets have become rivers and trees have crushed homes.Hurricane Maria is Puerto Rico’s Donald Trump said Thursday he plans to visit the island and declared Puerto Rico a disaster zone, which helps clear the way for federal

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