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PBOC Says China Needs Local Governments To File For Bankruptcy

According to a People's Bank of China (PBOC) official, local government bankruptcies or even a Detroit-style bankruptcy are necessities for China, as rising debt problems continue to loom over the country's head. Xu Zhong, a PBOC official sees a need

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Brexit Gloom Weighs on UK Households And Their Financial Future

For the first time in three years more Britons are expecting their personal finances to get worse rather than better over the next 12 months amid the Brexit vote’s impact. NMG Consulting conducted a survey on behalf of the Bank

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Fed’s Mester brushes away flattening yield curve concern

The Aussie rallied against the Greenback last week, mainly due to the dovish Fed minutes and soft PMI data. A rally in the price of iron ore also strengthened the Australian dollar. Still, the AUD/USD pair, which is currently trading

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