Bloomberg China’s leverage crackdown is forcing local companies to confront their addiction to short-term bond sales that they use to roll over debt. The shock therapy is worsening the outlook for corporate defaults in the second half of this year after borrowing costs jumped to a two-year high. With yields surging, Chinese non-banking firms sold 131 billion yuan ($19.3 billion) …

Bloomberg India’s wholesale price inflation slowed in May from a year earlier on the back of falling food costs, indicating subdued price pressures in the pipeline and adding to expectations that the central bank may lower interest rates in coming months. Wholesale price index rises 2.17 percent in May from a year earlier, compared with a median estimate of 2.9 …

Bloomberg The International Monetary Fund raised its growth estimate for China for the second time this year while also cautioning that deep reforms are still needed to break away from debt-fueled expansion. The world’s second-largest economy will expand by 6.7 percent in 2017, the Washington-based fund said in its annual report on Article IV consultations published on Wednesday. That’s up …