TIOGA, N.D. -- The North Dakota winter is relentless. Air temperatures hover around zero degrees Fahrenheit. Yet that’s easy to forget here, inside a network of steel mobile homes opened in 2011 in the state’s northwestern corner. Guys walk around in flip-flops, shorts and T-shirts. They eat ice cream at regularly available opportunities and then sweat it off on a treadmill.
Relative yields on securities linked to debt on everything from skyscrapers to mobile-home parks are at the highest in 10 months as investors flee risky assets, raising borrowing rates and crimping new lending.
The government of Australia, which wants to impose the world’s first-ever ban on logos printed on cigarette packaging, has a unique marketing challenge: How to create a product package whose intent is to repel consumers.
Investor confidence in debt from investment-grade corporates to junk bonds to commercial-mortgage securities plunged after the U.S. credit rating was cut by Standard & Poor’s and on signs the economy is slowing.