The Asian dollar bond market has been a cornucopia for issuers this year. Amid plentiful liquidity, it’s easy to lose sight of just how little reward there is now for all the risks investors are being asked to accept. Less than seven months into 2017, asset managers and private-bank clients have written checks for $175 billion to companies and governments ...

Congressional Republicans have just produced their latest version of Trumpcare. On the plus side, this one gives up on earlier proposals to repeal three taxes that the Affordable Care Act imposes on the wealthy, making it a bit less fiscally reckless. On the minus side, it’s still a terrible plan. It’s designed to drastically weaken America’s health security — and ...

A country rarely praised for its efficient bureaucracy, India has managed its biggest administrative reform in years pretty well. Its new goods-and-services tax, replacing 40 other taxes and levies, came into force earlier this month without undue disruption. This policy deserves to be a great success — but to make the most of it, the government still has work to ...