Ethiopia becomes Africa’s latest sovereign default
LONDON (Reuters) – Ethiopia became Africa’s third default in as many years on Tuesday after it failed to make a $33 million “coupon” payment on its only international government bond. Africa’s second…
China’s Country Garden may avoid yuan bond default after deal – Bloomberg News
(Reuters) – China’s Country Garden Holdings is likely to avoid its first default on yuan bonds after most holders of a local note agreed not to demand repayment this week, Bloomberg News…
China’s Powerlong Real Estate warns of debt default risk
(Reuters) – Powerlong Real Estate said on Wednesday its cash on hand and bank deposits would not be enough to cover existing and future debt, making it the latest Chinese property developer…
Israel’s First International Bank Q3 profit dips, default provision jumps
By Steven Scheer JERUSALEM (Reuters) – First International Bank of Israel (FIBI) reported a dip in third-quarter net profit, hurt by a quadrupling of its provisions to protect against future loan defaults…
Israel shekel sinks to lowest since 2016, default insurances soars
LONDON (Reuters) – Israel’s shekel hit its weakest level since early 2016 and the cost of insuring the country’s sovereign debt against default soared on Tuesday after a bloody weekend assault by…
Borrowing pressures to push European default rates to 3.75%-5.5% – S&P Global
By Marc Jones LONDON (Reuters) -Higher interest rates and a near stalling of Europe’s economy will put pressure on the credit ratings of the region’s companies, property firms and banks and drive…
Napolitano, president who helped save Italy from possible default, dies at 98
By Steve Scherer ROME (Reuters) – Giorgio Napolitano, who died on Friday aged 98, was one of modern Italy’s most important presidents as he steered the country away from the brink of…
JPMorgan ramps up EM default rate forecast amid China property woes
By Marc Jones LONDON (Reuters) -JPMorgan ramped up its 2023 global emerging market corporate high yield (HY) default rate forecast to 9.7% from 6% on Tuesday following the latest wave of problems…
Analysis-China holds the key to avoiding Argentina’s IMF default. The price tag is unknown
By Jorgelina do Rosario and Karin Strohecker LONDON (Reuters) – A helping hand from China saw Argentina avert a default with the International Monetary Fund for the second time in 30 days,…
Banks stocks gain after US Congress averts historic debt default
(Reuters) – Shares of U.S. banks rose on Friday after the U.S. Senate on Thursday passed bipartisan legislation that lifted the government’s $31.4 trillion debt ceiling and averted a historic default. Shares…
Japan’s Nikkei closes at 32-year high as US default fears ease
By Rocky Swift TOKYO (Reuters) – Japanese stocks rose on Friday, with the benchmark Nikkei index closing at a three-decade high, after U.S. lawmakers voted to raise the debt limit and on…
Cost of insuring vs US default increases before vote on debt ceiling bill
NEW YORK (Reuters) – The cost of insuring exposure to a U.S. debt default rose on Wednesday, with investors focused on a debt ceiling vote in the House of Representatives later in…
US default probability at lowest since January – MSCI
NEW YORK (Reuters) – The probability of a U.S. default has declined to its lowest since January, according to MSCI estimates, as a debt ceiling deal gets closer to the finish line.…
Default wave imminent, will peak in 2024- Deutsche Bank
LONDON (Reuters) – A wave of debt defaults by companies in the United States and Europe is imminent, due in part to the fastest monetary tightening cycle in 15 years, Deutsche Bank…
Yellen Shifts Debt Default Date To June 5
Yellen Shifts Debt Default Date To June 5 Arjun Singh on May 26, 2023 Treasury Secretary Janet Yellen has extended the probable date that the U.S. will default on its sovereign debt…
U.S. credit default swaps fall as debt ceiling talks progress
(Reuters) – The cost of insuring exposure to U.S. government debt dropped on Friday as U.S. President Joe Biden and top congressional Republican Kevin McCarthy were closing in on a deal that…
Analysis-Wall Street prepares for Treasuries mess as default looms
By Gertrude Chavez-Dreyfuss, Saeed Azhar and Davide Barbuscia NEW YORK (Reuters) – Anxiety is increasing in parts of Wall Street that rely on Treasury securities to function, with some traders starting to…
US debt default would impact military readiness, morale: top US general
WASHINGTON (Reuters) – A debt default would deal significant, unambiguous damage to US national security, negatively impacting military readiness, morale and its capabilities, the top US general told a news conference on…
Marketmind: U.S. default risk clouds Korea, Indonesia rate decisions
By Jamie McGeever (Reuters) – A look at the day ahead in Asian markets from Jamie McGeever. The central banks of South Korea and Indonesia announce interest rate decisions on Thursday, against…
Marketmind: RBNZ to hike rates, U.S. default ticks closer
By Jamie McGeever (Reuters) – A look at the day ahead in Asian markets from Jamie McGeever. An expected interest rate hike in New Zealand will be the main regional focus for…
US Treasury asks federal agencies for payments clarity as debt ceiling default looms
WASHINGTON (Reuters) – The U.S. Treasury said on Tuesday it is asking other federal agencies for greater clarity and communication on the payments they expect to make and receive in the coming…
Yellen warns US default could trigger recession, ‘break’ financial markets
WASHINGTON (Reuters) – Treasury Secretary Janet Yellen on Tuesday warned that a U.S. default on government debt would leave millions of Americans without income payments, potentially triggering a recession that destroys many…
Three in four Americans worry debt-ceiling default could hurt them: Reuters/Ipsos poll
By Andy Sullivan WASHINGTON (Reuters) – Americans are worried about the prospect of the U.S. government defaulting if Congress fails to raise the debt ceiling, but are divided over the action to…
‘They Want A Default’: McCarthy Says House GOP Making Little Progress With Biden On Debt Ceiling
‘They Want A Default’: McCarthy Says House GOP Making Little Progress With Biden On Debt Ceiling Arjun Singh on May 15, 2023 House Speaker Kevin McCarthy on Monday expressed little confidence about…
Cost of insuring against U.S. default rises to highest since 2009
LONDON (Reuters) – The cost of insuring against a U.S. default rose to its highest since early 2009 on Thursday, in the latest sign of investor nerves over the debt ceiling standoff.…
Trump plays down consequences of a US default: ‘Could be maybe nothing’
By Tim Reid (Reuters) – Republican former President Donald Trump on Wednesday played down the severity of a potential U.S. government default, saying the consequences of a failure by Congress to raise…
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