Bloomberg Last year, most US investors and central bankers underestimated how high inflation would climb. Now they may be underestimating how high interest rates will need to go to bring it back down. In spite of the Federal Reserve’s most aggressive credit tightening campaign in four decades, the US economy and financial markets started the New Year with a bang. ...

  Bloomberg Housing Development Finance Corp (HDFC) priced its biggest ever rupee bond issuance ahead of a merger with its banking unit, which will create an Indian financial services behemoth valued at more than $200 billion. India’s largest mortgage lender will raise 250 billion rupees ($3 billion) selling notes due in a decade at a coupon of 7.97%, according to ...

  Bloomberg Polish banks risk a new nightmare scenario after an adviser to the European Union’s top court said they can’t seek extra remuneration from thousands of customers whose risky Swiss Franc-denominated mortgages were annulled after being deemed unfair. In cases where contested mortgage deals are voided by local courts, lenders can’t claim payments beyond reimbursements of the loan principal, ...