A funny thing happens when the economy booms: Investors crawl out on thinner and thinner limbs. It’s happening right now in the bond markets, where the only part that is lucrative is usually the least appealing to all but the nerviest players: distressed state and local governments with the lowest credit ratings (or none at all). Think of bankrupt Puerto ...

Mark Carney, the Bank of England governor, told Bloomberg Markets this week that predicting the pound would fall after a leave win in the Brexit referendum was “probably the easiest call” in the past 25 years of macroeconomics. Sadly for him, setting monetary policy ahead of Britain’s departure from the EU next March is proving much harder. The Bank is ...

Boring is a good look for Apple. The company that was once a seemingly impossible combination of rapid growth and eye-popping profits has settled into a new phase of life. It’s now clear that Apple Inc. won’t return to the iPhone-selling mania of a few years ago. Higher product prices and the regular introduction of new gadgets are patching over ...