Losses on bonds from defaulted companies are likely to be higher than in previous cycles, because U.S. issuers have more debt relative to their assets, according to BoA Corp. strategists. Those high levels of borrowings mean that if a company liquidates, the proceeds have to cover more liabilities. Source: Bloomberg
Southeast Asia is seeing a boom in foreign direct investment as the intensifying trade war between the U.S. and China prompts companies to shift production to the region. Source: Bloomberg
President Donald Trump said Washington will exit the Cold-War era treaty that eliminated a class of nuclear weapons due to Russian violations, triggering a warning of retaliatory measures from Moscow. Source: Cyprus Mail
The Italian Ministry of the Interior, Matteo Salvini, announced on Saturday that Italian police officers would be sent to patrol the French border to prevent the French sending migrants over the border, after protesting against an episode on Friday in Clavière, despite being described as routine by France. Source Le Figro
