Bottom Line: The crisis in Venezuela continues to escalate, with no recovery or relief in sight. A messy and chaotic default looms, and the rescue will likely involve a tough adjustment program, larg…

Bottom Line: British Prime Minister Theresa May’s decision to seek early elections comes as the economic costs of Brexit are becoming more apparent. While the removal of electoral uncertainty may be …

Bottom Line: There's a strong consensus that this fall's fiscal showdown will result in a compromise agreement, but a deal may be harder to get than markets anticipate. Have pity on the U.S. fisca…