Buyout pricing used to be largely based on an insurer’s ability to invest the assets it receives from pension funds into higher-yielding corporate bonds to meet the fund’s long-term liabilities.

Large US banks’ contributions to the default funds of central counterparties (CCPs) ballooned over the 18 months to March 31, ending the first quarter at a record $90.4 billion.

Tariffs have complicated the picture for monetary policy-makers as they balance potential inflationary pressure with risks to ...