Italy’s sovereign credit rating was left unchanged at two notches above junk by Fitch Ratings, which warned an extremely high level of general government debt and the absence of structural fiscal adjustment still pose risks.
A Chinese state-backed borrower’s failure to make good on a payment on a dollar bond on Friday threatens to overturn assumptions that officials would step in to avert defaults by companies closely linked to local authorities.
Wherever you look in Europe’s financial markets, the signposts are pointing to the same thing: a pronounced slowdown in the region’s economy before the European Central Bank has even started to normalize interest rates since the last one.
U.K. Prime Minister Theresa May is expected to fail in getting a new Brexit deal by next week. Pound traders couldn’t be happier.
China’s outbound gasoline shipments soared to the second highest on record in January as refiners exhausted fresh export quotas with surging supplies from plants being upgraded to produce higher standard fuel.
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