Dhara Ranasinghe is Senior Writer with CNBC.com, covering a range of topics including the global economy, financial markets and corporate news. Before joining CNBC, Dhara was a correspondent and sub editor with Reuters news agency in London and Singapore. She has reported on European Treasury markets, Asian economies and currency markets and edited company news stories. Dhara holds a Bachelor's degree in History from the London School of Economics.
A surprise decision by the Fed last month to maintain monetary stimulus followed six months of tense debate, according to the Wall Street Journal.
Yields on one-month Treasury bills head higher, a sign that investors are nervous about the U.S. government defaulting on its debt obligations.
The Philippines is now rated investment grade by three major credit ratings agencies.