Money versus Monetary Policy

US Senators Seek To Sanction Hungary Over Obstructing Ukraine Aid Because US Congress is perfectly functional, and all domestic issues have been resolved (one would very ironically think), the FT reports that a bipartisan pair of US senators are set to introduce legislation calling for sanctions to be imposed on senior Hungarian officials involved in obstructing aid to Ukraine. If passed, the Block Putin act would require President Trump to impose financial sanctions and visa bans on Hungarian government officials involved in the country’s purchases of Russian oil and gas, and...

Pakistan’s Defense Minister Khawaja Mohammad Asif declared Friday that a state of “open war” exists between Pakistan and the neighboring nation of Afghanistan, following ever-growing tensions and cross-border raids. Pakistan has reportedly pounded major cities in Afghanistan in the escalation of the conflict. The attacks reportedly centered on major military centers of the Taliban government […]

Private Credit Bank Run Begins: Blue Owl Gates After Shocking 41% Of OTIC Investors Ask For Their Money A week ago, in an attempt to calm the market, Goldman's economists published a lengthy, if at times disjointed, report discussing why a crisis in private credit would not lead to another financial crisis. We are about to find out if they were right.  Recall that in mid-March, while attention was understandably focused on the Iran war, we explained why Blue Owl's February decision to commence liquidations of loans in its three core private...