Bloomberg Investors are pouring money into exchange-traded funds tracking gold amid expectations of a global recession and massive stimulus from central banks and governments. BlackRock’s iShares Gold Trust, ticker IAU, took in $486 million, its largest one-day inflow on record, according to data compiled by Bloomberg. At the same time, State Street’s SPDR Gold Shares, or GLD, has seen 10 …

Bloomberg Bank of America Corp. (BofA) followed two big rivals in setting aside billions of dollars for loans likely to sour amid an almost total US economic shutdown. Profit plunged 45% as the company allocated $4.76 billion for loan losses, the most since 2010, as businesses and households reel from the coronavirus pandemic. The bank joins competitors JPMorgan Chase & …

Bloomberg Default risks for India’s banks have declined from six-year highs on expectations that recent policy support will help the lenders avoid worse damage from the coronavirus pandemic. Average credit-default swaps on five Indian lenders, including State Bank of India, have dropped sharply since the Reserve Bank of India unleashed a 3.74 trillion rupee ($49 billion) stimulus package on March …