U.S. Debt Set to Exceed Size of Economy for Year, a First Since WWII

U.S. government debt is on track to exceed the size of the economy for fiscal 2020, a milestone brought into reach by the coronavirus pandemic's economic impact and the federal fiscal response. 


 
S&P 500 Poised to Extend Rally After Notching Fresh Record

Investors betting on additional stimulus and a coronavirus vaccine are pushing more money into riskier assets such as stocks, while easing out of gold. 


 
Tesla's Share-Sale Plans Boost Bonds

Prices for Tesla's traditional bond due in 2025 reached a record 104.36 cents on the dollar Tuesday, after the electric-car maker said it would sell up to $5 billion in stock. 


 
Fed's Barkin Says Economy Will Need Sustained Support

The labor market's recovery has been slower than anticipated because the coronavirus has been harder to contain than expected, the Richmond Fed president says. 


 
Japan Leadership Favorite Pledges to Keep Shinzo Abe's Goals

Yoshihide Suga, the front-runner to become Japan's next prime minister, said he would maintain a close alliance with the U.S. and continue departing Prime Minister Shinzo Abe's reflationary policies. 


 
Mnuchin Urges Congress to Pass More Stimulus Funding

Treasury Secretary Steven Mnuchin urged Congress to appropriate more money to combat the effects of the coronavirus pandemic, saying at a hearing Tuesday that he was ready to sit down with Democratic leaders to resume negotiations. 


 
Rising U.S. Coronavirus Cases Complicate School Reopenings

New U.S. coronavirus cases climbed back above 40,000 after two days of declines, as the virus's spread complicated plans to reopen schools in some parts of the country. 


 
Australia Falls Into Recession for the First Time in Nearly Three Decades

Australia's first recession in 29 years was confirmed when data showed the economy contracted by a record 7% in the three months through June-it marked the end of the longest-running growth streak in the developed world. 


 
Low Rates Needed Despite Inequality, Stability Risks, RBNZ Says

Low interest rates could widen income inequality by pushing up asset prices, but are needed to combat unemployment during the coronavirus pandemic, Reserve Bank of New Zealand Gov. Adrian Orr said. 


 
BOJ Deputy Gov. Wakatabe Hints at Possible Policy Review

One of the Bank of Japan's two deputy governors hinted at the possibility of the central bank reviewing its monetary policy to better serve an economy coexisting with the coronavirus pandemic, following in the footsteps of other major central banks.