Japan may be just posing as an outlier. Yes, the Bank of Japan renewed its commitment to ultra-low interest rates just as other developed economies were moving towards further rate increases and an end to stimulus. But beneath the headlines about the BOJ’s pledge to keep printing money for an “extended period,” Governor Haruhiko Kuroda and his colleagues left clues ...

Brace, brace. Hong Kong’s IPO takeoff is going to come to a screeching halt. There’s a flood of deals still in the pipeline, it’s true, from food delivery giant Meituan Dianping to biotech unicorn Innovent Biologics Inc. But investor fatigue is setting in, with many of the hot sales that helped to reignite the market in the past year trading ...

The US Treasury Department sold more 10-year notes than it ever had before to help finance a bulging budget deficit. Strategists generally deemed the $26 billion auction “solid.” And although that’s certainly true when comparing the results with recent auctions, it’s hard to ignore an inconvenient truth facing the bond market. Investors submitted bids for 2.55 times the amount offered, ...