(Bloomberg) — Agile Group Holdings Ltd., a Chinese developer of villa apartments and high-rise homes, defaulted for the first time on publicly issued dollar bonds, underscoring lingering distress amid the nation’s unprecedented property crisis. Most Read from Bloomberg The company, based in the southern province of Guangdong, hasn’t paid interest within a grace period that […]
This article was originally published in Arkansas Advocate. U.S. Education Secretary Miguel Cardona told a group of Arkansas educators Tuesday that the goal of the Biden administration’s student loan forgiveness program “is to prevent defaults.” “Which is better, letting someone pay what they can afford or throwing our hands up and doing nothing?” Cardona asked […]
Federal Reserve Chairman Jerome PowellKevin Dietsch/Getty Images Despite the likely end of Fed rate hikes, corporate defaults will rise next year, Fitch Ratings says. The central bank will lower interest rates by 75 basis points, the rating agency predicts. Meanwhile, slower economic growth will push high-yield bond defaults to 5.0%-5.5%. Corporate defaults will rise next […]