Morgan Stanley restricts redemptions as withdrawals surge

Tailing 7Y Auction Sees Lukewarm Foreign Demand, Jump In Direct Buyers The week's final coupon auction per the truncated pre-FOMC schedule has come and gone, and like yesterday's 2Y and 5Y, was also mediocre at best. The sale of $44BN in 7Y paper stopped at a high yield of 4.175%, down from 4.255% in March; and like the week's previous auctions, the 7Y also tailed the 4.170% When Issued by 0.5bps, which makes it 4 auctions that have not stopped through in a row. The bid to cover was better, rising to...

Poland Rejects 'Unofficial' US Request To Redeploy Patriot Batteries To Mideast Via The Cradle Poland has rejected an "unofficial" US request to deploy one of its Patriot air defense systems to West Asia, Polish Defense Minister Władysław Kosiniak-Kamysz announced on Tuesday, following reports by Polish daily Rzeczpospolita that Washington had informally approached Warsaw amid rising regional tensions. "Our Patriot batteries and their armaments are used to protect Polish airspace and NATO's eastern flank. Nothing is changing in this regard and we are not planning to move them anywhere!" Kosiniak-Kamysz stated. Still frame via the...

Texas AG Probes Lululemon Leggings For "Forever Chemicals" Shares of Lululemon Athletica fell as much as 4.5% in late-morning New York trading after Texas Attorney General Ken Paxton launched an investigation into whether the company, known for its leggings, misled consumers about potential "forever chemicals" in its apparel. Paxton's probe of Lululemon's athletic apparel centers around leggings that may contain PFAS, or "forever chemicals," and whether the company misled consumers about the safety, quality, and health impacts of its products. The attorney general's office will also review the company's restricted substances...