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“It’s crazy: a government bond looks as risky as a triple-C bond,” one senior Wall Street executive said, referring to how the banks would have to treat all assets on their balance sheets alike. In other words, a super-safe U.S. Treasury would be valued on par with a far-riskier and lower-rated “junk bond.”
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China is a key part of Sir Philip’s plans to expand Arcadia’s brands overseas. Topshop is in the process of opening 28 new concessions in Nordstrom department stores in the US, while Arcadia has also committed to opening more than 150 new franchise stores in the next year.