Bonds have performed so poorly this year that many investors are probably wondering what the point of owning any is. People usually buy fixed-income investments to add stability to portfolios in addition to collecting regular income — but that strategy has backfired this year. Funds that track the U.S. bond market have fallen about 16%, … Read more
The Federal Reserve approved the fourth straight jumbo hike in a key US interest rate on Wednesday, signaling rates are likely to be higher than previously expected. The news of a higher terminal rate overshadowed more dovish comments from the central bank statement that it could move more slowly to better evaluate the effects on … Read more
From initial public offerings of electric vehicles to environmental, social and government funds, the possibilities in climate-related investments seem endless. Still, a troubling trend is emerging involving state and local governments’ blanket obligations and their legal climate activism. The same jurisdictions that are suing energy companies for alleged damages due to climate change also state … Read more
HONG KONG—The bottom has fallen out of the market for bonds from Chinese property developers. Dollar bond prices of property companies in China have fallen to new lows, with some trading below 10 cents on the dollar. It reflects a loss of investor confidence in the sector, after a series of bond defaults shortchanged international … Read more
HONG KONG—The bottom has fallen out of the market for bonds from Chinese property developers. Dollar bond prices of property companies in China have fallen to new lows, with some trading below 10 cents on the dollar. It reflects a loss of investor confidence in the sector, after a series of bond defaults shortchanged international … Read more
Rising friction in the $24 trillion market for U.S. government debt is stoking concerns for investors throughout financial markets. The ranks of traders ready to buy and sell Treasurys are shrinking. Individual trades are moving prices more. Treasury securities with similar characteristics are trading at larger-than-normal price differences. Major players, including the big banks and … Read more
A historic rout in the bond market this year has resulted in the highest yields on municipal bonds in 15 years — and what looks like an excellent buying opportunity. Midweek, the muni market, as measured by the Bloomberg Municipal Bond Index, fell 13%, the worst in at least 40 years, as yields rose to … Read more
First the easy part. Economists widely expect the Federal Reserve to approve the fourth consecutive jumbo rate hike at its meeting next week. The three-quarters of a percentage point increase would bring the central bank’s benchmark interest rate up to a level of 3.75%-4%. “The November decision is a lock. Well, I’d be hit if … Read more
Britain’s new Prime Minister Rishi Sunak Photo: daniel leal/Agence France-Presse/Getty Images Rishi Sunak must not have heard the story of the curse of getting what you most want. On Monday, he became Britain’s prime minister by default, the third in two months when conservative lawmakers failed to nominate an alternative candidate. Now Mr. Sunak control … Read more
Banks committed to helping finance Elon Musk’s takeover of Twitter Inc. plan to hold all $13 billion in debt to back the deal rather than sell it, according to people familiar with the matter, in another blow for a market that acts as a crucial source of business financing. Banks would likely face losses of … Read more