STORY: The yield on the 10-year note, a key benchmark for mortgages and corporate debt, has climbed to levels not seen since 2008 this month.
"You can go out and find reasonable credits in the bond market that are paying 4.5%, 5.5%, up to 6-6.5%," said Mussio. "Bond investors haven't been able to clip those types of coupons since before the great financial crisis."
Filipino farmer Daniel Velasco pumps water from a well in a desperate attempt to save his wilting vegetables, as a scorching heatwave and the worst drought in years hits crops.Some farmers like Velasco switched from rice to vegetables, which need less water, but even those are dying.
G7 environment ministers gathered in Turin on Monday for two days of talks, as the UN warned "excuses" for failing to take bold actions on climate change were "not acceptable"."'Challenging budget conditions' is not an acceptable excuse for failing to deliver substantial new public climate finance pledges," he told the ministers. ide/ar/db
With Panama's business-friendly reputation bruised by a recent move to close a copper mine accounting for 5% of GDP, the country's next president will face unusually tough choices in trying to get its economy back on an even keel. But while economists and even some politicians are urging the May 5 election's victor toward unpopular measures to boost depleted coffers - including a troubled state pension system - the five frontrunners are squarely focused on the spending side of the ledger. Fitch ratings recently downgraded Panama's debt to speculative grade, citing fiscal and governance pressures aggravated by the move to close First Quantum Minerals' giant copper mine following nationwide protests.
Togolese voters headed to the polls on Monday to vote in the country's parliamentary elections, which will test support for a proposed new constitution that would scrap future presidential elections and give lawmakers the power to choose the president instead. The opposition and the clergy say the legislation is an effort by President Faure Gnassingbe to prolong his rule. In early April, the government banned protests against the proposed new constitution and the arrest of opposition figures.
Tesla shares jumped 7.3% premarket after the electric vehicle maker cleared some key regulatory hurdles that have long hindered it from rolling out its self-driving software in China, the U.S. automaker's second-largest market. Apple added 1.7% after a report that the iPhone maker had renewed discussions with OpenAI about using the startup's generative artificial intelligence (AI) technology.
The U.S. will need as many as 55,000 additional veterinarians by 2030 to meet the needs of pet owners, one estimate says.
Firefly CEO Bill Weber thinks the private space company will soon be able to conduct round-trip commercial moon missions without funding from NASA.
NASA administrator Bill Nelson raised concerns about the risk of the US falling behind in the global space race as Beijing pushes ahead with its ambitions to land astronauts on the moon.
Singaporean Prime Minister Lee Hsien Loong and Indonesian President Joko Widodo on Monday celebrated the countries' continued cooperation at their seventh and final Leaders' Retreat in Jakarta, an annual meeting between the two Southeast Asian leaders that was also attended this year by their successors. Lee’s visit to Indonesia is one of his last working trips before he hands over the reins of his administration to a new leader. The eldest son of Singaporean founding father Lee Kuan Yew announced his resignation earlier this month after two decades at the helm.
US Secretary of State Antony Blinken called Monday for tighter defence integration among Gulf Arabs in response to Iran, part of efforts to encourage moderation by Israel by dangling the prospect of better ties with the region.Washington has hoped to use the prospect of Saudi ties to encourage compromise by Israeli Prime Minister Benjamin Netanyahu, a longtime foe of a Palestinian state who has also sought to highlight his role in building relations with the Arab world.
Delivery rider Than Toe Aung pedals his bicycle through a punishing heatwave in Myanmar's commercial capital Yangon, where scooters and motorbikes are banned.In some places, authorities have advised citizens to stay at home, but there is no rest for workers like Than Toe Aung, who relies on his bicycle for income.
Tank Dell, a wide receiver for the NFL’s Houston Texans, was injured Sunday during a shooting in Sanford, Florida, the team has confirmed.
Dutch medical device maker Philips says it's reached a $1.1 billion deal in the United States to settle lawsuits over faulty sleep machines in a case that's rocked the company.
Arizona state Sen. Jake Hoffman, one of the fake electors charged in the Arizona 2020 election subversion case, announced Saturday that he’s been elected as a Republican National Committee National Committeeman for the state.
A suspected missile attack by Yemen's Houthi rebels targeted a container ship in the Red Sea on Monday, authorities said, the latest assault in their campaign against international shipping in the crucial maritime route. The attack happened off the coast of Mokha, Yemen, the British military's United Kingdom Maritime Trade Operations center said, without offering any other immediate details. The private security firm Ambrey said a salvo of three missiles targeted a Malta-flagged container ship traveling from Djibouti onward to Jeddah, Saudi Arabia.
Putin’s forces have made further gains in locations along Ukraine’s eastern front – highlighting Kyiv’s need for ammunition and weapons from the US and other allies.
Humza Yousaf is poised to resign as Scotland's first minister before he faces two confidence votes this week, British media reported on Monday.On Monday, Scottish media quoted sources close to the first minister said he would now resign.
A series of election laws passed in Georgia since 2020 threaten to overburden election officials and hamper poll worker recruitment.
Chinese President Xi Jinping is due to make a state visit to France on May 6 and 7, Paris announced on Monday, with wars in Ukraine and the Middle East expected to be high on the agenda.Macron has said he will ask the Chinese president to help him in that aim when he visits Paris.
SYDNEY (Reuters) -Solomon Islands incumbent Prime Minister Manasseh Sogavare said he would not be a candidate when lawmakers vote this week for a new prime minister, and his political party would instead back former Foreign Minister Jeremiah Manele. The two major opposition parties in the Solomon Islands struck a coalition deal on Saturday as they vie with Sogavare's party to form a government after an election delivered no clear winner. Last week's election was the first since Sogavare struck a security pact with China in 2022, inviting Chinese police into the Pacific Islands archipelago and drawing the nation closer to Beijing.
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