The country’s debt now exceeds the size of its gross domestic product. For decades, this was considered a doomsday scenario that would wreck the economy. So far, that hasn’t happened.
BlackRock, the world’s largest asset management company, is opposing a debt settlement deal with Argentina as the country grapples with soaring poverty and the pandemic.
The Dodd-Frank financial law succeeded at making banks safer, but empowered shadowy corners of finance that nearly wrecked the system in March.
New measures by the European Central Bank and the German government to combat the economic damage caused by the pandemic have exceeded expectations.
Adopting the proposal would make history for the bloc, vesting authority in Brussels in ways that more closely resembled a central government.
The European Commission wants to issue bonds to raise the funds, taking a step closer to a shared budget potentially paid for through common taxes.
Large parts of financial markets are now being managed by the government. Even if they don’t like it, investors must acknowledge it.
Jerome H. Powell, who heads the central bank, predicted a slow economic recovery and reiterated that policymakers may need to do more.
With businesses closed and obligations mounting, state finances are stretched and poised to worsen.
Global shares rose one day after coronavirus fears and oil market disruptions caused the biggest stock sell-off in a decade. Still, bonds and gold prices signaled persistent worries.
Wall Street looked poised for a sharp drop on Monday morning after the outbreak worsened in Europe and the U.S. Oil prices and bond yields tumbled.