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 ...

Bloomberg A disappearing spread between money-market rates and expected policy equivalents indicates the Reserve Bank of Australia’s (RBA) official cash rate may no longer serve as the floor for borrowing costs. The three-month bank-bill swap rate — a gauge of Australian borrowing costs — has continued to slide, with its spread over a similar-tenor overnight index now poised to fall ...

Bloomberg Citigroup Inc.’s bond traders just posted their best quarter in eight years — a feat that was no match for the tidal wave of souring loans that walloped the bank’s profits. The deadly pandemic that sent global markets swooning helped the firm’s fixed-income, currencies and commodities traders generate $4.79 billion, trouncing analysts’ estimates by more than $1 billion. But ...