Credit ratings veteran among the Big Three
Indonesia’s economy has come under pressure from a global energy shock and policy shifts. The rupiah has weakened to a record low near 18,000 per dollar, fueling concerns about growth, investor confidence and currency stability as central bank actions lag the energy-driven outflows.
Defendants from Indonesia’s military intelligence unit have been convicted over the March attack on Andrie Yunus, a KontraS rights advocate. Sentences range from 1.5 to three years. Rights groups call the verdict a shallow justice, urging civilian courts to probe higher-level actions.
Investors have priced in a protracted confrontation as U.S.-Iran hostilities escalate. Oil prices rise, while equities swing in response to shifting risk and higher energy costs. Analysts warn that higher energy costs and a higher cost of capital will pressure earnings in coming months.
SpaceX has announced a senior unsecured notes offering to raise about $20 billion to refinance a bridge loan and fund expanding AI infrastructure, including Starship and Starlink. The move follows a record IPO and large cash reserves, but faces scrutiny over negative free cash flow and high capital needs.
GDP growth has slowed to 1.5% in Q2, down from 2.1% in Q1, as a trade deficit widens and petrol prices spike. Consumer spending remains resilient, while AI investment continues to push capital formation and imports, dampening net exports. Fed kept rates unchanged amid inflation concerns, with midterm elections approaching.
Bloomberg reports Fitch Ratings finds not-for-profit hospitals and health systems have broad optimism about resilience, but tone has shifted to caution. The recovery appears near a transition point as operating conditions evolve.
Markets show insurers accelerating bond issuance, with private placements shortening maturities and Japanese insurers eyeing new borrowers as yields rise. Banks report unusual insurer-behavior in direct outreach for bond deals, while some companies miss payments on certain asset-backed securities, triggering scrutiny of credit dynamics.