A friend of mine who is a bit of a climate-change skeptic once challenged me with this question: If climate change is such a pressing danger, why haven’t coastal real estate prices crashed? It’s a fair question. If financial markets are even close to efficient, and if everyone knows climate change is about to flood the coasts, then it stands ...

Bloomberg For years, Asia’s biggest private banks have been on a hiring spree to keep pace with the ranks of newly minted millionaires. Now, they’re squeezing more out of their bankers. Relationship managers who cater to wealthy clients in the region are running larger pools of money, with average assets run by each surging to an all-time high of $341 ...

Bloomberg Stocks down for a third successive week, bond yields at their highest since 2016 and a currency market replete with bears. Such have been the declines in emerging markets that the more sanguine commentators have begun saying the selloff has run its course and it may even be time to buy the dip. But JPMorgan Chase & Co. says ...