Deteriorating economy has forced president to slash imports to cover foreign debt payments
Liquidity rules said to limit ability to act as shock absorbers
Traders scramble to make sense of scale of drop in wake of poor US data and falling equities
There is scant evidence of a change in the economy or in the thinking of the US Federal Reserve
New issuance down 6% as cities and states cut spending and tap other sources of funding
Volatility and rising prices affect new issues
Growing stock jitters put high-yield debt markets on edge
Concerns raised on next Pimco manager’s plans on bonds
Government wants to replace BNY Mellon as bond trustee
Dozens of groups line up to raise almost $50bn in high-grade debt
International Edition