(Bloomberg) — As the bond market limps toward 2023, it faces the prospect of a final bout of chaos, exacerbated by dwindling trading volume typical during the last weeks of the year. The most punishing time period on record for investors in US government bonds has also been one of the most volatile, with frequent […]
Read More(Bloomberg) — The odds are rising that corporate borrowers will struggle to repay their debts as the Federal Reserve opts for jumbo interest-rate hikes to combat inflation, according to UBS Group AG. Default rates for US leveraged loans could next year rise to 9% as long as the Fed stays on its aggressive monetary-policy path, […]
Read More(Bloomberg) –Russia’s first external default in a century now looks all but inevitable after another brutal week for the country’s finances. First, the Treasury halted dollar debt payments from Russia’s accounts in U.S. banks, ramping up its restrictions on the country. Then, when an attempted hard-currency payment was blocked, Russia breached the terms on two […]
Read More(Bloomberg) — It was perhaps the most widely-tracked coupon payment in history. After the Russian Finance Ministry on Monday sent an order initiating a $117 million payment due on dollar-denominated bonds this week, traders and money managers globally watched with bated breath as the money began to snake its way through the financial system. What […]
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