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Sri Lanka economists tell government to default on bond, buy food

Sri Lanka economists tell government to default on bond, buy food $500m should be redirected to pay for fuel, medicine and other essentials, experts say Sri Lankan rupee banknotes sit in a bucket at a fruit stall in Colombo. The country is running out of imported food, fuel, medicine and a key ingredient of milk […]

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Russia “Confirms” It Has Plans To Restore Assad Government In Syria

Russia “Confirms” It Has Plans To Restore Assad Government In Syria Watching the US attempt to explain to the public why Washington can’t join the Russians in targeting extremists in Syria has been entertainment gold. The fundamental PR problem revolves around the fact that the West has gone out of its way to hold up […]

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Junk Bond Issuance Collapses, “Distress Ratio” Spikes

Junk Bond Issuance Collapses, “Distress Ratio” Spikes Fitch Ratings is fretting about junk-bond defaults. “After five issuer defaults already this month accounting for nearly $2 billion in new volume,” Fitch now expects that the default rate will hit 3.5% by year-end, up from 2.5% to 3% a few days ago. Through September, the trailing 12-month default rate […]

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Did Argentina’s CNV Pass a Law to Avoid a Bond Payment?

Did Argentina’s CNV Pass a Law to Avoid a Bond Payment? Last Tuesday, Argentina’s securities regulator, the CNV, shocked markets by announcing Resolution 646 requiring that mutual funds price dollar-denominated assets in pesos at the official government rate rather than the market rate that is closer to the parallel or blue dollar. Despite efforts from banks […]

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Olduvai IV: Courage
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Olduvai II: Exodus
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