Among the memorabilia in Air Force Chief of Staff General David Goldfein’s office is a fragment of the Wright brothers’ first airplane. But the most intriguing items may be two small plastic satellites on sticks that can be maneuvered to simulate a dogfight in space. Space is now a potential battle zone, Goldfein explains in an interview. The Air …

  Coming soon to a portfolio near you: Chinese bonds. Like it or not, fixed-income securities from the mainland’s vast, opaque and increasingly default-prone debt market are about to go more global. The good news is that Beijing has been paying attention to international investor concerns over the way the notes are sold and traded. Premier Li Keqiang said that …

  If you think it will be hard for the US Federal Reserve to normalize monetary policy, spare a thought for the European Central Bank. The euro zone’s monetary guardians have said they will continue to buy 60 billion euros a month in government and corporate bonds until the end of 2017. Headline inflation is running at 2 percent — …