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Trump Blinks Again, Won't Shut Down Government Over Wall Funding

Last Tuesday Trump promised a Phoenix audience that he would follow through on his biggest campaign promise, saying "believe me, if we have to close down our government, we're building that wall." Today, Trump flopped again when it emerged that he won't close down the government to build that wall, after all.

Is A US Default Imminent: Liquidation Panic Grips T-Bills Market

While the politicians and the mainstream media are playing down any concerns about the US debt ceiling, Treasury Bill market participants are seeing chaos as the yield curve has snapped across the Sept-Oct divide with panic-buying in bills that mature ahead of the September-end (Q3-end liquidity needs), and dumping of October bills.

Where There's [Almost] "Blood In The Streets" In America Today...

"there's a common saying in finance: ‘buy when there’s blood in the streets’ ...This is easy to understand intellectually… harder to do in practice... When there’s blood in the streets, i.e. markets are collapsing, our human emotions kick in. We tend to panic..."

Emerging Market Debt: Dumb, Dumber, And Dumbest

One of the classic signs that the credit cycle is nearing the end is that borrowers that shouldn’t be getting financed not only get funded, but get it at terms that seem crazy...