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Wall Street pundits and investors are schizophrenic about US assets. The dollar weakened after Moody’s cut the United States’ credit rating, citing the increasing fiscal deficit, as well as the rising interest costs on government debt.On the other hand, the S&P 500 not only recovered after US President Donald Trump’s April tariff shock, but is now less than 5 per cent off its record high in February. Nevertheless, 30-year US Treasury yields recently exceeded 5 per cent per annum, indicating investors’ nervousness about US deficits and debt sustainability.While Financial Times...

The South American nation’s central bank announced that it will undo a fixed currency peg from Monday, letting the peso freely fluctuate within a moving band between 1,000 and 1,400 pesos per dollar, versus 1,074 at the close on Fridayread moreArgentina dismantled key parts of its years-long currency controls and loosened its grip on the peso on Friday as it sealed a $20 billion, 48-month Extended Fund Facility deal with the International Monetary Fund (IMF).The IMF deal lays out an immediate disbursement $12 billion, and a first review is planned...