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China’s delivery drivers are its most obvious underclass

New rules aim to help but the economy will keep them down

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How to bring down cheap, low-flying drones

Acoustics and innovative radar could help

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Ukraine is now Europe’s war. Survival can’t be the only aim

America’s disengagement means it is now the old continent’s conflict to manage

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Imagining a world without a safe asset 

No corner of finance would be left untouched

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Neither banks nor stablecoins will rescue the Treasury market

More involvement from banks and crypto firms in the Treasury market is a good thing. Neither will outrun immense issuance

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Could something replace the Treasury market?

The alternative assets are too small, fragile or limited in nature to match the usefulness of American debt

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Partners in prime: The Fed and Treasury’s new relationship

Scott Bessent and the new Fed chair have talked about co-ordinating their work

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Like it or not, hedge funds are a permanent part of the Treasury market 

As interest from other buyers dwindles, the trade in Treasuries increasingly relies on risky investors

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Foreign demand for American government debt is becoming much less reliable

A once-vital source of funding for the Treasury market is drying up

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The special role of the Treasury market is in peril

Government debt, inflation and unpredictable policymaking are putting the world’s most important asset under threat, argues Mike Bird in a special report

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Mistrusting the process: containing Congo’s Ebola outbreak

Also on the daily podcast: Europe’s technological-sovereignty push and the sweet surge of sticky toffee pudding

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The pain to come in private credit

It’s time to ditch assumptions built on cheap capital, stable growth and predictable exits, argues Hamza Lemssouguer