Bloomberg Business

Churchill Downs Inc., owner of the racetrack that hosts the annual Kentucky Derby, sold $600 million of junk bonds Tuesday to repay existing debt.

US stocks lacked conviction, trading in a narrow range as investors braced for inflation data that could signal if the Federal Reserve will once again lift interest-rates.

Investors staring down what is forecast to be the biggest drop in corporate earnings since the Covid recession have had no trouble bidding up US stocks.

Carnival Corp.’s chief financial officer, David Bernstein, isn’t worried about rising interest rates — unlike other finance executives — as the cruiseline operator looks to pay down its debt rather than refinance it.

Oil rose above $81 a barrel, buoyed by general risk-on sentiment, as the first of a spate of supply-and-demand projections scheduled this week forecast a modest rise in US production.

BlackRock Inc. increased its overweight call on inflation-linked debt on the view that price pressures will remain well above the Federal Reserve’s 2% target.

This week’s lull in the US stock market is likely to end with Wednesday’s consumer price index report, and Goldman Sachs Group Inc. partner John Flood has offered a set of guidelines for what investors may soon face.

Swiss parliament’s lower house on Tuesday evening began debating whether to approve 109 billion francs ($120 billion) in government guarantees for UBS Group AG’s takeover of Credit Suisse Group AG. The upper house gave its green light earlier in the day.

The Biden administration’s plan to tighten tailpipe pollution limits on cars and light trucks — and propel electric vehicle sales — would generate as much as $1.6 trillion in savings through 2055, a top White House climate official said Tuesday.