Coronavirus Pushes Some Emerging Markets to Brink of Default

Joseph B. Hash

An unprecedented withdrawal of capital from emerging marketplaces is threatening to produce a wave of financial debt defaults as governments struggle with the double whammy of falling oil costs and the rapidly spreading coronavirus outbreak.

As traders fled emerging-market bonds in the latest months in favor of haven belongings, bond yields for the most vulnerable economies have skyrocketed. In one case in point, the generate on a dollar-denominated Angolan authorities bond maturing in November 2025 jumped to approximately 30% on Friday, from underneath 7% at the beginning…

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Putin Exploits Coronavirus to Justify Centralized Russian Power

Joseph B. Hash

MOSCOW—The coronavirus pandemic has offered Russian President Vladimir Putin a fresh possibility to push property for anxious Russians a recurring concept of his extended reign: Western liberal democracies are weak, globalism is fragile and the Russian model of centralizing electrical power in a sturdy chief is excellent in times of crisis.

During much of the pandemic, the Kremlin chief has sought to challenge energy and relaxed, assuring his folks that the unfold of the new coronavirus is below management in Russia, even as it has killed 14,000 and…

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Italy’s Slow Progress in Fighting Coronavirus Is a Warning to West

Joseph B. Hash

Medical professionals in Brescia, a northern Italian town at the middle of the country’s new coronavirus pandemic, have witnessed glimmers of hope in their fight towards the disorder in modern times.

The virus has killed a lot more than 1,000 people there and the quantity of infected admitted to its large healthcare facility is starting to tumble, down by fifty percent to 50 a working day, suggesting the extreme lockdown imposed on the populace could be functioning.

But…

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U.S. Coronavirus Cases Exceed 100,000; Boris Johnson Tests Positive

Joseph B. Hash

The U.S. surpassed one hundred,000 confirmed scenarios of the novel coronavirus Friday, led by a ongoing soar in bacterial infections in New York and in new sizzling spots throughout the place.

When testing for the deadly respiratory virus has not been uniform throughout America or globally, creating correct situation counts tricky to pin down, confirmed bacterial infections in the U.S. have doubled or tripled every 3 days for virtually a month.

Past…

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