RJ Corp., parent of one of the largest PepsiCo Inc. bottlers outside the US, plans to raise 10.1 billion rupees ($105 million) through local-currency bonds, according to people familiar with the matter.
Global bond markets have been roiled since the Iran-US conflict began. Surging energy prices together with massive corporate borrowing and ever-expanding government debt issuance have sent Treasury bond prices plummeting, pushing yields to the highest level in nearly two decades. The rout prompted US Treasury Secretary Scott Bessent in August to increase buybacks of the government’s own longer-dated bonds, in an unusual intervention aimed at lowering Americans’ borrowing costs.
How two economists measured the actual amount of millionaires in America.
In 2014, the economists Owen Zidar and Eric Zwick were asked by the Treasury to conduct a study on the tax burden of private business owners. It was tricky to figure out how much these sorts of business owners — auto dealers, contractors, the like — actually owed in taxes: After Reagan’s 1986 tax reforms, pass-through businesses and other accounting tricks became widespread enough to obscure this class of wealthy Americans hiding in plain sight. The research they conducted led to their new book
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European Central Bank Governing Council member and Bank of Latvia Governor Martins Kazaks discusses the second-round inflation effects of the energy price shock and the outlook for interest rates. “With the economy forecasted to close the output gap next year, you know, wading into restrictive territory, in my view, would be appropriate,” Kazaks tells Bloomberg’s Oliver Crook in Dublin. (Source: Bloomberg)
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