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Stocks reverse, modestly, on debt ceiling hopes

Stocks reverse, modestly, on debt ceiling hopes

At 10 a.m. New York time this morning stocks looked they were headed to another dismal day. The Standard & Poor’s 500 had lost 1.35% at that point. And then Senate GOP leader Mitch McConnell said he would be willing to vote with Democrats to raise the...
Evergrande debt contagion spreads in China

Evergrande debt contagion spreads in China

Yesterday Fantasia Holdings Group became the latest property developer to fail to repay a maturing bond. That, plus ratings down grades, put Chinese junk dollar bonds on the edge of their biggest selloff in at least eight years, according to Bloomberg calculations,...