How First Brands’ billion-dollar rescue hit the skids
Hedge funds that funded the bankruptcy have been left with a ‘clunker’ as this was no ordinary debt-induced collapse
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Iranian tankers gather off Sri Lankan coast
Cut off from home ports by the US blockade, ships seek shelter close to Sri Lanka’s territorial waters
Stanley Druckenmiller leads doubters who think Bessent’s bond ploys will fail
The bond market interventions have generated a modest decline in yields along with a growing chorus of derision.
The drip-drip US debt crisis
Rising deficits and debt-servicing costs no longer seem to have the power to restore prudence
China needs U.S. dollars but is building a hedge against Washington’s sanctions
The U.S. can pressure Chinese banks over Iran through access to its financial system, while Beijing is building alternatives such as CIPS.
Jackson Hole could further formalise emerging Fed-Treasury accord
Stablecoins, the theme of this year’s symposium, are expected to bolster demand for short-term debt on which the Treasury is increasingly reliant