Among financial geeks, the repurchase market is seen as the lifeblood of a monetary system. Without it, banks can’t really operate. China’s seized up, prompting the People’s Bank to perform an emergency cardiac massage. Other regulators in Beijing may want to look on closely, because they may be called upon to undertake a similar maneuver shortly. To understand what …

  The Federal Reserve might be doing the right thing for the US economy by moving to bring interest rates back up to normal. But for foreign companies and governments that have borrowed trillions of US dollars, the adjustment could be painful. Thanks in large part to a prolonged period of extremely low US interest rates, borrowers around the world …

  North Korea launched yet another missile. The missile test, though it turned out to be damp-squib, is nevertheless evidence of Pyongyang’s continued determination to develop intercontinental ballistic missile (ICBM). It seems there is nothing which can hold it back from pursuing its nuclear ambitions. North Korea is pushing hard to upgrade its weapons systems to cope with the so …