Has Bezos Become More Powerful In DC Than Trump?

Authored by May Jeong via VanityFair.com, The deal for an obscure $10 billion Pentagon contract suggests the extent to which Jeff Bezos is gobbling up the swamp… without the guy in the White House even batting an eye. There’s a new scandal quietly unfolding in…

US Household Debt Hits Record $13.3 Trillion

Total household debt hit a new record high, rising by $82 billion to $13.29 trillion in Q2 of 2018, 3.5% higher than a year earlier according to the NY Fed’s latest household debt report. It was the 16th consecutive quarter with an increase in household…

Saudi Sovereign Wealth Fund Shows “No Interest” In Tesla LBO

In the aftermath of Elon Musk’s shocking announcement that he was contemplating a $72 billion LBO for Tesla with “funding” allegedly “secured” from investors, investors promptly concluded that there is only a handful of names that could bankroll such as massive transaction. The first name…

Facebook, Zuck Sued By “Shocked” Shareholders As “The Truth” Emerges

Following a disappointing earnings announcement that wiped out about $120 billion of shareholder wealth, Facebook, its CEO and CFO, are being sued by a shareholder potentially opening the floodgates for sore-losing stock market gamblers the world over. “As a result of Defendants’ wrongful acts and…

Pentagon Releases $200 Million In Military Aid For Ukraine

Though perhaps a drop in the bucket when compared to the over $1 billion the US has already acknowledged providing Kiev since 2014, the Pentagon announced Friday afternoon that it will provide Ukraine with $200 million in security assistance which an official statement says will…

Treasury Sells Tailing 30Y Bonds At Lowest Yield Since January

Concluding this week’s US bond sales, moments ago the US Treasury sold $14 billion in a 30 Year reopening of Cusip SC3 at a high yield of 2.958%, which while tailing the When Issued 2.954 by 0.4bps, was the first sub-3% auction since January. The…

Pepe Escobar: China’s Silky Charming Of Arabia

Authored by Pepe Escobar via The Asia Times, President Xi Jinping has promised more than $23 billion in loans and aid to Arab states, as Beijing ramps up ties with the Middle East; this includes aid for Palestine; Beijing foresees importing a whopping $8 trillion…

Trump Slams Pfizer, Warns “We Will Respond” To Rising Drug Prices

Once again, with the swipe of a few digits, President Trump has knocked a few billion in market cap of stocks as he tweeted that Pfizer and others “should be ashamed that they have raised drug prices for no reason,” criticizing the company for offering…

Four Trade War Scenarios: From ‘One-&-Done’ To ‘All Hell Breaks Loose’

On July 6th, President Donald Trump’s tariffs on $34 billion worth of Chinese goods are set to take effect. And, as Bloomberg’s Chief Asia Economist, Tom Orlik, notes, with an additional $16 billion coming close behind, and China threatening retaliation, it looks like the opening…

5-Year Auction Tails As Yield Drops To Lowest Since March

After yesterday’s mediocre 2Y auction, moments ago the US Treasury sold $36 billion in 5Y paper, at a 2.719% yield, tailing the When Issued 2.715% if below last month’s 2.864% as the short-end of the curve has tightened in recent weeks. This was both the…