Japan’s economy chief will undergo surgery for cancer as soon as next week, casting a cloud over the future of a politician charged with crafting plans to revamp industrial regulation and liberalize trade rules.
Investors should buy inflation-linked debt and use swaps for protection against a potentially volatile drop in Japanese government bonds as the nation exits from deflation, Morgan Stanley MUFG Securities Co. said.
In his decision finding Detroit eligible for municipal bankruptcy this week, U.S. Bankruptcy Judge Steven Rhodes wrote: “The city no longer has the resources to provide its citizens with basic services. Was Detroit’s bankruptcy a foregone conclusion? Of course it was.”
Prime Minister Shinzo Abe’s success in reviving the world’s third-largest economy hinges on wages rising more than the Bank of Japan’s 2 percent inflation target, according to the investment strategist the premier has invoked as an authority on the country’s need for growth.
Japan plans an 18.6 trillion yen ($181 billion) package to counter the impact of a sales-tax bump in April, as Prime Minister Shinzo Abe tries to sustain a recovery in the world’s third-biggest economy.
The mayor of Bridgeview, Illinois, said building a taxpayer-financed arena for the billionaire owner of Major League Soccer’s Chicago Fire would bring hotels and restaurants to his suburb. Instead, the town has more than doubled property taxes and may raise them again to pay more than $200 million in stadium debt.
Gunmakers such as Smith & Wesson Holding Corp. and Sturm Ruger & Co. are boosting firearms sales by building weapons that are more accurate and easier to use, with gun-related U.S. patents at a 35-year high.