The situation in Korea remains tense, with South Korean military drills failing to garner a response from the North. That doesn’t mean there isn’t a response coming, though North Korea says there won’t be one for this particular drill, according to the WSJ.
The UN Security Council has failed to come to any agreement on the issue, and all the uncertainty is starting to weigh on markets.
Asian indices fell last night and credit markets have been hammered too, with CDS prices surging.
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