Bond investors often say that “No one wants to be a forced seller.” And that makes perfect sense: If you need to sell during a rout, no matter the price, you’re going to take a big hit. But it should be equally as scary to be a forced buyer. Increasingly, that’s what happening in the US high-yield corporate bond market. ...

Bloomberg As Denmark comes to grips with its role in one of Europe’s worst dirty money sagas, its parliament is working overtime to stop the nation’s credit rating from being dragged down by the scandal. Danske Bank A/S has admitted that about $234 billion flowed through a tiny unit in Estonia between 2007 and 2015, and is treating a “large” ...

Bloomberg Nazir Razak, the brother of Malaysia’s former prime minister, has decided to step down as chairman of the country’s second-largest bank by the end of this year. Nazir, 52, has announced his intention to step down from the board of CIMB Group Holdings Bhd. after 29 years at the helm, the lender said in a statement to the stock ...