Mexico’s peso fell, heading for its worst week since June, as slower-than-forecast economic growth added to speculation the central bank will cut borrowing costs and on concern the Federal Reserve will reduce stimulus.
Almost five years after Lehman Brothers Holding Inc. filed for bankruptcy and set off the global financial crisis, managers of the bank’s estate are demanding millions of dollars from retirement homes, colleges and hospitals.
China’s five-year interest-rate swaps rose to a two-week high on speculation an improving U.S. economy will prompt the Federal Reserve to rein in stimulus measures that have spurred fund flows into emerging markets.
Wall Street banks collected $215.6 million that Denver’s public schools paid to unwind swaps and sell bonds since the district began borrowing to cut pension costs in 2008. That sum is about two-thirds of annual teaching expenses.
Stichting Vestia Groep, a Dutch affordable-housing provider that nearly collapsed as a result of losses on derivatives, asked a London court to void 700 hundred million euros ($924 million) in interest-rate swaps after it was sued by Credit Suisse Group AG.
China’s benchmark interest-rate swaps rose by the most in two months amid speculation the central bank will refrain from loosening monetary policy even as slowdown signs mount in the world’s second-largest economy.