The junk-bond bears have been terribly wrong this year. But they’re sticking with their pessimistic calls. Distressed-debt investor Anchorage Capital, for example, which lost 1.48 percent in the first six months of the year, has urged clients to start preparing for a downturn, Bloomberg News reported Thursday. The founders of rival King Street expressed a similar sentiment in a …

  Data shows that Japan’s economy stalled in the April-June quarter. It has missed the market forecasts and reignited worries about the government’s bid to prop up economy. Tokyo stocks fell after hitting their highest levels for over two months in the previous session. Japanese Prime Minister Shinzo Abe recently announced a massive 28 trillion yen ($276 billion) package aimed …

  How much leeway should Marines have to express their religious beliefs? According to Congress, religious liberty laws apply with full force to the military. But last week the highest court in the armed forces put some limits on claims by active-duty personnel. Those limits cut against recent trends in Supreme Court jurisprudence — but they make a lot of …