Strategically, economically and politically, the Islamic Republic of Iran seems to be in almost desperate straits. Then came a missile and drone strike on Saudi oil facilities that briefly cut Saudi production in half, to 5 million barrels a day. We see demonstrations in Tehran, demonstrations in Baghdad, demonstrations in Read more…
Mediocre 10Y Auction Sees Sharp Drop In Indirects As All Eyes Turn To Settlement Date Ahead of today's 10Y Treasury auction, there was some concerns that the Zoltan Pozser report on an upcoming repo crash would spook buyers and we could get dismal demand as a result of the bond's Read more…
The lawsuit alleged that Exxon Mobil was responsible for $1.6 billion in investor losses by lying to them about the impact of future climate change regulation on its business. During closing their closing statement, the AG dropped the two most damning of four charges without explanation – these were the Read more…
President Trump is refusing to engage and Democrats have concluded they will press ahead anyway, rendering a historic undertaking little more than a foregone conclusion. Boycott the Process Neal Katyal, the former acting solicitor general under President Barack Obama, called it “deeply dangerous” for the target of an impeachment like Read more…
The themes pushing G-SIB scores in the wrong direction this year are the equity market rally and the flat curve: (1) the rally in equities is inflating scores through G-SIBs' market capitalization and the value of equities G-SIBs hold as trading assets or available for sale securities; (2) the flat Read more…
Spreads haven't returned to the lows they reached in 2018, but investment-grade yields tumbled. Modified duration in the Bloomberg Barclays index is the highest since the late 1970s, and convexity is the highest in at least two decades. Supply based on refinancing isn't necessarily bad news for bondholders, except that Read more…
“We Totally Failed As A Business”: Unicorn Scooter Impales Investors After Company Goes Hooves-Up It was a stupid idea at a terrible time; startup company Unicorn thought they could convince people to spend $699 on an electric scooter – as opposed to simply paying a few bucks each time they Read more…
Despite its size, the US is facing a dilemma of sorts. According to a new report from The Brookings Institution, regional divergence in the US innovation sector “has reached extreme levels.” The innovation sector, composed of 13 of the nation's highest-tech, highest R&D industries, is vital to the US economy. The innovation Read more…
The AFL-CIO announced Tuesday it would back the trade agreement, something that would give more cover for Democrats to support it. “Working people are responsible for a deal that is a vast improvement over both the original NAFTA and the flawed proposal brought forward in 2017,” AFL-CIO President Richard Trumka Read more…
He didn't just break the back of US inflation: he also deliberately broke the back of US labour power. He explicitly aimed at breaking the power of organised labour, and just after being appointed as FOMC Chair declared “The standard of living of the average American has to decline”. When Read more…