Portugal’s government bonds rose, with 10-year yields falling to the lowest since 2006, after the nation held its first auction since a bailout in 2011 as its European Union-led aid program draws to a close.
The Port of Long Beach, California, the second-largest U.S. container port, is selling $59.9 million in revenue bonds to refinance debt used for upgrades as cargo volumes recover from recessionary lows.
Russian companies, facing $115 billion of debt due over the next 12 months, will have the funds even as bond markets shut because of the Ukraine crisis, according to Moody’s Investors Service and Fitch Ratings.
California’s borrowing costs have fallen to the lowest level in three months, with Governor Jerry Brown calling a special legislative session to alter plans for a budget reserve just as the most indebted U.S. state offers $750 million of bonds.
Chinese Premier Li Keqiang’s plan to introduce deposit insurance is meant to comfort the nation’s savers as bad loans mount. In the bond market, it’s fueling speculation he’s preparing to let some banks collapse.
Bangkok’s Democracy Monument was erected to commemorate the 1932 coup that ended Thailand’s seven-century reign of kings, and became a rallying point last year for protesters seeking to oust the government. Now, the landmark’s builder is going abroad for the first time in its 84- year history as political instability saps demand at home.
A rebounding Southern California economy will increase revenue to Los Angeles by 5.1 percent next year, though locked-in employee costs are growing even faster, City Administrative Officer Miguel Santana said.