The troubled Italian lender Banca Monte dei Paschi di Siena SpA took another big step in its long path to redemption last week by selling subordinated debt for the second time in six months. An 8% coupon is expensive for the world’s oldest bank, but it can hardly complain given its years of troubles. Even though the yield is enticing, ...

The cognoscenti of international economics are once again agape, and not in a flattering way, at the budget surpluses Germany’s government keeps running, when instead it should be stimulating the economy with tax cuts and higher spending. The surplus revealed this week for 2019, at 13.5 billion euros ($15 billion), is the fifth in a row, and the biggest ever. ...

Bloomberg US equity futures slipped on Tuesday, pointing to declines after the long weekend as investors grapple with worries about a deadly virus in China that sparked earlier declines across Asia and Europe. Treasuries rose. Contracts for all three of the main gauges were firmly in the red after a miserable session in Asia triggered by the outbreak of the ...