If working from home during the pandemic has shown anything, it’s that apartments and houses are our castles, like it or not. Hong Kong is emerging from a semi-lockdown (restaurants open, schools shut, workers everywhere on the home-office spectrum) and it’s clear that investors see refuge in housing, too. The world’s least-affordable residential prices look likely to keep floating in ...

It’s not all sunshine and roses being Europe’s benchmark borrower. Germany has a unique problem in that its AAA-rated debt is so revered as collateral that it’s very expensive to actually buy. The country’s debt agency has sharply increased its second-quarter borrowing program to 130 billion euros ($140 billion) to help pay for the Covid-19 crisis. Given that investors already ...

In the midst of the constant up-and-down of coronavirus news, both from science and the markets, it’s easy to lose sight of the scariest scenario of them all: the one where there’s no magic bullet. In this entirely plausible situation, there would be no effective Covid-19 vaccine or transformative therapy; the combination of testing and contact tracing wouldn’t successfully suppress ...