As LIBOR rises—blowing past 1% yesterday, for the first time in nearly two years—more struggling junk-rated borrowers may end up with negative cash flow, unable to pay interest payments on their loans.
Despite the geopolitical tensions, the Russian government is making payments on its sovereign debt and Western governments are allowing circuitous transfers to get those funds to the debt holders.
The order requires an assortment of federal agencies to research, and provide policy recommendations, on topics related to digital currencies, including the feasibility of a U.S. CBDC.