Reeves has reassured the bond vigilantes but tests to come
Investors welcomed Budget’s fiscal rigour, giving the chancellor the benefit of the doubt on implementation, productivity and growth for now
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China Vanke’s bonds plunge on fears of waning state support
Property developer asks for delay in payment despite backing of Shenzhen Metro
Belgian minister warns about ‘dangerous’ frozen asset loan for Kyiv
Also in this newsletter: Study finds aerospace only competitive industrial sector left in Europe
Tether: the $180bn gold whale
Plus, a lawsuit from billionaire Patrick Drahi takes up the novel antitrust theory roiling credit stand-offs
The US is deregulating banks. Will the rest of the world follow?
New rules will boost lending and profits and entrench American dominance. But critics say they could lead to another crash
Japan needs to end its dangerous debt delusion
The country has to face up to the hard truth that it has maxed out on its fiscal flexibility