El Salvador took advantage of a record sale of government debt in September to refinance its foreign debt through a special purpose vehicle through JPMorgan Chase. By tendering its entire $7.2 billion foreign debt, the country eventually agreed to buy back $1.03 billion, or 14% of its bonds maturing between 2027 and 2052. Bonds with … Read more
Following the rise in cross-border payments, Bank of America on Sunday introduced guaranteed exchange rates for up to one year, the longest term available in the industry. The growth of e-commerce businesses, services, manufacturing and the gig economy has led to a sharp increase in both the volume and value of cross-border payments in recent … Read more
Pushing and shoving in one race on the track. A cameraman walking into the action in another. Leg cramps and untimely misses in the field. The often-routine qualifying rounds at Olympic track and field took some strange turns Wednesday with a four-man pileup in one men’s 5,000-meter heat, a cameraman who walked into the other … Read more
Regional and specialized stock exchanges are returning as demand expands for new products and market locations. The theory that regional or specialized exchanges can bring unique know-how to specific sectors or geographies is driving the buildup. The list of such exchanges is growing, and the trend is global. For example, the Eastern Caribbean Securities Exchange … Read more