Tag: debt

Fitch cuts China’s ratings outlook on growth risks, debt fears
Business

Fitch cuts China’s ratings outlook on growth risks, debt fears

Fitch Ratings Agency on Wednesday cut China's sovereign credit outlook to negative, pointing to escalating risks surrounding the country's public finances. This decision, which Beijing quickly labeled as "regrettable," underscores the mounting concerns over China's economic stability, especially amid a persistent property sector crisis threatening broader financial repercussions.Economic headwinds and policy responsesChinese authorities have been grappling with stimulating economic growth while navigating through various challenges, including the real estate sector's downturn.Despite deploying targeted measures and issuing billions in sovereign bonds to fuel infrastructure and consumer spending, experts argue that significant additional efforts are required.In a recent economic target set...
Personal Loan Statistics and Trends to Watch in 2024 | Personal Loans and Advice
Money

Personal Loan Statistics and Trends to Watch in 2024 | Personal Loans and Advice

Consumers are increasingly turning to unsecured personal loans to achieve their financial goals, whether they want to knock out home improvement projects, consolidate high-interest credit card debt or simply pay for an unexpected car repair.Personal loan balances have ballooned – both at the individual borrower level as well as nationally – at a time when interest rates have also risen rapidly. Simply put, personal loans are getting larger and more expensive to repay. Meanwhile, more borrowers are becoming delinquent on their personal loan debt.Learn more about the personal loan trends from 2023 and how that will impact borrowers into 2024, according to a U.S. News analysis of industry data from TransUnion, Experian, the Federal Reserve and the National Credit Union Administration. Person...
2024 Could Be the Year of the Yen
Money

2024 Could Be the Year of the Yen

The Japanese yen has been one of the worst performing currencies of the past couple of years. It could do better in 2024.The yen has lost around 20% against the dollar since the end of 2021, underperforming other major currencies. Japan’s central bank kept its ultralow interest rates while most of its peers have been raising rates aggressively. Higher yields outside of Japan have driven the currency lower and lower.Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8
Waving a Red Flag at Bond Bulls
Money

Waving a Red Flag at Bond Bulls

The drop in long-term rates might seem excessive, but as long as investors’ expectation of low inflation readings isn’t proven wrong, it could continue.
BOE Money Printing to Cost UK as Much as HS2, Ex-Official Says
Money

BOE Money Printing to Cost UK as Much as HS2, Ex-Official Says

The Bank of England’s quantitative easing program is on track to cost the UK taxpayer as much as the entire HS2 high-speed rail link that the government has scaled back on value-for-money grounds, according to a former BOE rate setter.Michael Saunders, who was on the Monetary Policy Committee between 2016 and 2022, said the £126 billion ($161 billion) “lifetime cost” to the taxpayer of central bank money printing, calculated using the government’s own official forecasts, is “similar to the full HS2 scheme adjusted to 2023 prices.” In October, Prime Minister Rishi Sunak scrapped the rail link’s northern leg as costs spiralled.
More Americans Than Ever Own Stocks
World

More Americans Than Ever Own Stocks

Listen to article(2 minutes)The share of Americans who own stocks has never been so high.About 58% of U.S. households owned stocks in 2022, according to the Federal Reserve’s survey of consumer finances released this fall. That is up from 53% in 2019 and marks the highest household stock-ownership rate recorded in the triennial survey. The cohort includes families holding individual shares directly and those owning stocks indirectly through funds, retirement accounts or other managed accounts.Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8
DeSantis Is Right About Medicaid
Health

DeSantis Is Right About Medicaid

North Carolina has become the 40th state to succumb to federal cash and adopt ObamaCare’s Medicaid expansion for able-bodied working-age adults. A new study from the Paragon Health Institute shows there is little to celebrate. Overall health is unlikely to improve despite this massive increase in public welfare. We now have 10 years of data on ObamaCare’s Medicaid expansion. The evidence against the policy is overwhelming: Expansion leads to a surge in spending but reduces healthcare access for traditional Medicaid enrollees such as low-income children and people with disabilities. And it doesn’t improve health.Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8
China Turns the Tables on Wall Street
World

China Turns the Tables on Wall Street

Updated Dec. 13, 2023 12:53 am ETChina is upending how the international financial system handles debt crises in the developing world. Wall Street isn’t happy.Large bond fund managers cried foul last month when China blocked their deal to salvage investments in defaulted Zambian debt. The smackdown came just weeks after Chinese officials brokered a private debt restructuring with Sri Lanka, outmaneuvering Western governments that were trying to do the same.Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8
What to Do With Student Loan Debt in Retirement | Student Loans and Advice
Money

What to Do With Student Loan Debt in Retirement | Student Loans and Advice

Seniors are increasingly carrying the burden of student loan debt in America, as many enter their golden years saddled with an extra monthly loan payment eating into their retirement savings.The outstanding student loan balance held by Americans age 60 or older increased twentyfold over the past 15 years, from $6.4 billion in 2004 to $126.6 billion in 2021, according to consumer credit data from the Federal Reserve Bank of New York. The share of student loan debt held by this age group also quadrupled during this time, from 1.9% to 8%.Carrying student loans into retirement can make it difficult to keep up with living expenses such as health care, transportation and assisted living – not to mention the leisure spending and travel you've been working for decades to afford. But managing (and...