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
President Moon Jae-in and Chinese President Xi Jinping may join the summit to be held between U.S. President Donald Trump and North Korean leader Kim Jong-un this month in Vietnam to declare an end to the Korean War. Source: Korea Times
South Korea’s government said on Thursday (Feb 7) that it will spend 13.2 trillion won (S$15.9 billion) in border areas with North Korea for the next decade. The money, including 5.4 trillion won from the central government, 2.2 trillion won from local governments and 5.6 trillion won from the private sector each, will be spent on 225 projects in inter-Korea border areas by 2030. Source The Straits Times
Vladimir Putin has said that Russia finds the Kosovo authorities’ decision to create their own army regrettable and sees it as another risk of destabilization of the situation in the Balkans.
“Regrettably, Kosovo’s authorities took a series of provocative steps lately, thus greatly aggravating the situation. In the first place I have in mind their decision of December 14 to form a so-called army in Kosovo,” Putin told a news conference. “It goes without saying that this is a direct violation of the UN resolution, which does not allow for the creation of any paramilitary forces except for the international UN contingent.”
“Such irresponsible steps by Kosovo’s authorities may cause destabilization in the Balkans,” he warned. Source: Tass
