Trump’s Credit Card Cap Would Squeeze a $70 Billion Bond Market

Photographer: Simon Dawson/Bloomberg US President Donald Trump’s efforts to cut interest rates on credit cards could force lenders to cough up more money to support bonds they’ve sold backed by the debt, weighing on their profits, while also cutting into new issuance of the bonds. Trump last week demanded that credit card companies cap the interest rates they charge at 10% for one year, and later said that companies that ignored him would be “in violation of the law.” Most Read from Bloomberg Many ban ...