Creditors

Frontrunning: July 3

  • Health Bill Faces Resistance Among GOP Governors (WSJ)
  • Saudi Arabia, allies give Qatar two more days to accept demands (Reuters)
  • Qatar Responds to Saudi Bloc Demands as Trump Works Phones (BBG)
  • Trump says he will speak with German, French officials on Monday (Reuters)

Are Illinois & Puerto Rico Our Future?

The days of interstate highway systems and moon shots seem to be behind us. Are Puerto Rico and Illinois the harbingers of what is to come?

Americans Are Dying With An Average Of $61,500 In Debt

73% of American consumers had debt when they died, according to an Experian study. Of these, about 68% had credit card balances, followed by mortgage debt (37%), followed by auto loans (25%), personal loans (12%) and student loans (6%). In total, the typical American who passed away with debt to their name carried over $61,554 in debt to the afterlife.

Sears Canada Announces Bankruptcy; Fires 2,900

It's official - the US 'retail apocalypse' has moved north as Sears Canada (and some of its subsidiaries) have applied to Ontario Superior Court of Justice for protection under the companies’ Creditors Arrangement Act (CCAA), in order to continue to restructure its business.

Frontrunning: June 22

  • European stock markets stumble as oil languishes near lows (Reuters)
  • Some Trump Aides Want a New Leader at the Fed (BBG)
  • Goal of Saudi Shake-Up: Drag Country Into the Modern Era (WSJ)
  • Under fire in Washington, Trump back in campaign mode in Iowa (Reuters)
  • Revenue Slides at Some Trump Businesses, but Vegas Tower Brings Windfall (WSJ)

Investors Go All-In On Europe

Investors added $871 million to the Vanguard FTSE Europe exchange-traded fund in the five days through Friday, pushing the largest European ETF to its largest two-week inflow in history.

Argentina Unexpectedly Announces Sale Of 100-Year Bonds

One year after Argentina emerged from its latest sovereign bankruptcy, and at a time when the Latin American nation grapples with a surging budget deficit, Argentina surprised markets by announcing its intention to sell its first 100-year bond, taking advantage of a world starved for yield.