China’s next move to open up its commodities markets may be a step change. As of Thursday, overseas investors will be able to trade copper futures on the Shanghai International Energy Exchange. It’s not the first such product: A yuan-denominated crude oil contract, launched in March 2018, has been modestly successful. A subsequent push to let foreigners trade iron ore ...

The junk bond market’s magic number is 4.56. First, the average yield for the Bloomberg Barclays US corporate high-yield index plunged the most in seven months to 4.56% on November 9, easily breaking the previous all-time low of 4.83% set in June 2014. Then, data compiled by Refinitiv Lipper found that investors poured $4.56 billion into US high-yield bond funds ...

Another Indian bank has failed, the third collapse of a major deposit-taking institution in 15 months and the first since the onset of the coronavirus pandemic. But instead of allowing a zombie lender to linger after a half-baked rescue, the central bank has wisely decided to put Lakshmi Vilas Bank Ltd out of its misery. Better still, it’s called upon ...