Rainbows United failed to pay more than $2.3 million in federal withholding taxes over the past two years, and the resulting debt appears to be at the heart of the Chapter 11 bankruptcy the nonprofit filed late Thursday.
Debt forgiveness in few modified mortgages (The Nashua Telegraph)
Less than one in 50 mortgage modifications includes debt forgiveness, which is considered the surest way to prevent foreclosure. …
Japanese Bonds Decline as Stock Gains Reduce Demand for Debt (Bloomberg)
July 31 (Bloomberg) — Japan’s bonds fell for a second day, pushing up benchmark 10-year yields to a five-week high, as gains in regional stocks reduced demand for the relative safety of government debt.
Pimco Likes Australia Debt, 2009 Rate Rise Unlikely (Update1) (Bloomberg)
July 31 (Bloomberg) — Australian debt is attractive because the central bank will keep interest rates at half- century lows this year, according to Pacific Investment Management Co., which runs the world’s largest bond fund.
Japanese Bonds May Rise as Deflation Boosts Demand for Debt (Bloomberg)
July 31 (Bloomberg) — Japan’s bonds may rise, paring this week’s loss, as a government report today is expected to show deepening deflation that would boost the purchasing power of the fixed payments from debt.
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