[ad_1] Corporate bond markets are beginning to creak ahead of the US election as investors become more skittish, fearful that rising coronavirus cases and delays in Washington on further stimulus could hit the US economy. Investors have sought to walk a tightrope in recent weeks, balancing America’s uncertain political direction and what it means for the response to the pandemic against supportive monetary policy, with the Federal Reserve continuing to signal its intent to stand behind credit markets.  The premium in borrowing costs that investors demand on lowly rated corporate bonds over Treasuries — known as the spread — has recorded the largest three-day rise since the start of June,…

[ad_1] Matthew Rocco Sales of newly built homes in the US slowed for the first time in five months, retreating from a 13-year high. New home sales came in at a seasonally adjusted annual rate of 959,000 single-family houses in September, the Census Bureau said on Monday. That was down 3.5 per cent from a revised 994,000-unit pace in August, which was the strongest level since December 2006. Economists had expected new home sales to top 1m last month. The US housing market has helped lead the economy’s rebound from the worst of the coronavirus-fuelled crisis in the spring, as buyers seek out roomier dwellings during the pandemic and capitalise…

[ad_1] European governments have warned of an alarming rise in the number of coronavirus infections across the continent from west to east, an autumnal second wave that threatens to overwhelm hospitals and will sharply increase the death toll in the weeks ahead.  “The situation is grave,” Pedro Sánchez, Spain’s prime minister, said on Friday, a day after the country recorded a new daily record of almost 21,000 infections. His words echoed those of Jean Castex, his French counterpart, who extended a night-time curfew that will cover 46m people, or two-thirds of the population, from midnight on Friday. “The weeks ahead will be hard. Our hospital services will be put to…

[ad_1] Andy Bounds in Manchester and Sarah Provan in London Greater Manchester is seeking an extra £90m in financial aid in return for tighter coronavirus restrictions as a noon deadline for talks with the UK government approaches. Prime minister Boris Johnson has threatened to impose the “tier 3” category of restrictions unilaterally to curb a rise in infections that could overwhelm hospitals. The government said that within two weeks all critical-care beds in Greater Manchester will be taken by Covid-19 patients and insists that it has offered local leaders a “good package” of £22m. “The real risk is by the first week of November in the current trajectory there will…