The launch of the Pimco Total Return Exchange-Traded Fund will test the mettle of investors with trillions of dollars invested in traditional bond mutual funds.
As The Economist went to press that was the choice facing HSBC, whose dogged pursuit of Korea Exchange Bank (KEB) has become a litmus test of South Korean attitudes to foreign investment.
He suggests a recommitment by the nuclear powers not to test their weapons--there have been no nuclear tests since 1996--in exchange for a commitment by all nations to stop enriching uranium.
On Tuesday the government announced it is to change the law so requests to exchange driving licences from outside the EU will only be accepted if the licence holder can prove they passed a driving test in a country where the testing standards are comparable with those in Britain.