By Dhara Ranasinghe

LONDON, Oct 13 (Reuters)Long-dated sovereign bond yields in Italy and Greece touched fresh record lows on Tuesday, with Italian borrowing costs at an auction also hitting new all-time lows in the latest sign of solid demand for peripheral euro zone debt.

Expectations for further European Central Bank stimulus to prop up an economy hit by the coronavirus have bolstered debt markets in recent weeks.

In addition, bond issuance is not as heavy as it was a few months ago — meaning upward pressure from anticipated bond supply has eased. Most euro zone issuers have now achieved 80% or more of their gross bond issuance target for 2020, Rabobank estimates.

“That rally in peripheral bonds has meant we are near our year-end target on spreads,” said Andrew Sheets, Morgan Stanley’s chief cross-asset strategist.

“I really think this is a story about supply — the periphery

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By David Lawder

WASHINGTON (Reuters) – Some G20 creditor countries are reluctant to broaden and extend another year of coronavirus debt service relief to the world’s poorest countries, so a six-month compromise may emerge this week, World Bank President David Malpass said on Monday.

Malpass, speaking to reporters as the World Bank’s and International Monetary Fund’s virtual annual meetings get under way, said G20 debt working groups have not reached agreement on the two institutions’ push for a year-long extension of the G20 Debt Service Suspension Initiative (DSSI).

“I think there may be compromise language that may be a six-month extension (and) that it can be renewed depending on debt sustainability,” Malpass said.

Finance ministers and central bank governors from the G20 major economies are scheduled to meet by videoconference on Wednesday. In May, they launched an initiative to allow poor countries to suspend payments on official bilateral debt owed

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LONDON, Oct 13 (Reuters)Britain’s debt mountain is likely to rise and hold above 100% of gross domestic product for at least the next few years but Prime Minister Boris Johnson should be in no rush to tackle it with tax hikes, a think tank said.

Public borrowing in 2020 will hit a level unseen outside the two world wars, thanks to the government’s 200 billion-pound ($260 billion) coronavirus spending surge and a 95 billion-pound hole in tax revenues, the Institute for Fiscal Studies said.

Britain’s public debt pile has already hit 2 trillion pounds, or just over 100% of gross domestic product.

The IFS said it was likely to stand at 110% of GDP in the 2024-25 financial year, the end of its forecast period.

“Without action, debt – already at its highest level in more than half a century – would carry on rising,” IFS director Paul

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The Trump Organization faces the prospect of paying more to borrow, getting smaller loans or selling some of its assets to manage more than $400 million of debt coming due on properties hit hard by the economic downturn.

The organization’s financial situation could become more challenging if President Trump wins re-election because of the complications, ethical quandaries and political dynamic of lending to a sitting president, according to real-estate finance executives and a lawyer who handled presidential ethics.

The Trump Organization isn’t carrying a particularly heavy debt load relative to its generally high-quality assets, and it has generated significant cash from its properties and asset sales. But the market for commercial real-estate loans is struggling.

“There’s still financing available, particularly for the right deals, but it’s definitely a more challenging environment,” said Steven Buchwald, managing director at Mission Capital Advisors, a New York-based company that helps arrange financing for commercial

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  • Kamala Harris gave a blunt refresher on President Donald Trump’s finances early on in the vice-presidential debate Wednesday night.
  • “It would be really good to know who the president of the United States — the commander-in-chief — owes money to,” Harris said, referring to The New York Times’ investigation into Trump’s taxes that found him in debt for hundreds of millions of dollars in debt, $139 million of which he’s on the hook for within five years.
  • “Because the American people have a right to know what is influencing the president’s decisions, and is he making those decisions on the best interests of the American people — of you — or self-interest.”
  • “Just so everyone is clear, when we say in debt, it means you owe money to somebody” Harris said.
  • She also took a dig at Trump for how little he paid in federal income taxes.
  • “When I first
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Big Ben in London | Unsplash/Marcin Nowak

Churches in the United Kingdom are urging their government to help pay off or cancel debts for low-income families struggling during the COVID-19 pandemic.

The Baptist Union of Great Britain, Church Action on Poverty, The Church of Scotland, The Methodist Church and The United Reformed Church recently released a report, titled Reset the Debt: A fresh start for families in Britain swept into debt by Covid-19, highlighting that “low-income families with children were particularly badly hit” during lockdowns this year.

About six million people in the U.K., mostly those living on low incomes or with little or no savings, are estimated to have gone into debt as a result of COVID-19.

“These households saw their wages fall fastest while their cost of living increased. However, lockdown tended to have the

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A pedestrian crosses a road in front of residential buildings in Beijing, China.

Qilai Shen | Bloomberg | Getty Images

SINGAPORE — Rising debt of Chinese property developers are in the spotlight again, as liquidity issues at top developer China Evergrande trigger investor concerns.

China’s property prices rebounded quickly as the economy reopened after the worst of the pandemic passed. Still, authorities are expected to officially rein in on borrowing costs of developers — outlining rules that cap the ratios of their debt in relation to their cash flows, assets and capital levels.

A leaked document last month regarding the cash flow of Evergrande, China’s second-largest developer by sales, has further highlighted concerns of the liquidity flows of Chinese developers.

Analysts warn it’s also raised the pressure on the developers’ ability to repay their debts in the bond markets going into 2021.

China’s property developers are among the biggest junk

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By Swati Pandey

SYDNEY, Oct 7 (Reuters)The Australian government will issue bonds worth A$240 billion ($170.4 billion) in the current financial year, surprisingly unchanged from earlier projections despite a massive increase in spending to bolster the coronavirus-ravaged economy.

The Australian Office of Financial Management (AOFM), which manages the government’s debt, said on Wednesday the weekly bond tender would be between A$3 billion and A$4 billion in most weeks for the remainder of the 2020 calendar year, from A$4-A$5 billion now.

The AOFM added that A$117 billion of the A$240 billion expected issuances for the year-ending June 2021 has already been undertaken.

“An unchanged issuance task and no new bonds this calendar year mean a flatter curve and tighter spreads,” said Robert Thompson, Sydney-based rates strategist at RBC.

AOFM’s unchanged issuance target comes despite a larger-than-expected budget deficit estimate for the 2020/21 fiscal year of A$213.7 billion

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Green bonds — debt taken on to finance projects with environmental benefits — hit a record last month with $50 billion issued, as more and more companies and governments turn to the instruments.

Adidas, French electricity firm EDF and telecoms firm Orange, along with the nations of Germany, Egypt and Sweden all issued green bonds in September, helping the volume jump by five times from August.

The value of green bonds issued so far this year climbed to more than $176 billion, a 26-percent increase from the same period in 2019.

The total includes instruments that meet the principles set out by the International Capital Market Association, the professional association that unites the global bond market and information compiled by Bloomberg.

The ICMA defines green bonds as those which finance renewable energy, energy efficiency, biodiversity, pollution reduction and other similar projects.

But as ECB executive board member Isabel Schnabel recently

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Unless you are the president.

President Trump — privy to the nation’s most precious secrets — the vice president and members of Congress aren’t subjected to the same background investigation many federal workers must endure to get or keep jobs. Those jobs are with organizations that do sensitive work, but the people are not necessarily spies, intelligence analysts or in high-level positions. They can be receptionists and office workers.

Whatever position, they must have their finances under control in the eyes of agency decision-makers. Being hundreds of millions of dollars in debt certainly would raise countless red flags. But not for Trump.

The president’s “finances are under stress, beset by losses and hundreds of millions of dollars in debt coming due that he has personally guaranteed,” according a New York Times article pegging his debt at $421 million.

Security clearances have been denied to regular employees and contractors for much

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