LVMH Posts Biggest Quarterly Drop Since Dot-Com; UBS Sees Luxury Opportunity

Russia and China on Wednesday issued a joint statement condemning President Trump’s plan for a “Golden Dome” missile defense shield for the US as Russian President Vladimir Putin and Chinese President Xi Jinping held talks in Beijing. According to The South China Morning Post, the two countries said the project poses “a clear threat to […]

Gundlach Warns "Bagholders" Will "Lose Money" In Private Credit As BDCs Slash Asset Values, JPM Faces $500MM Loss In Biggest "Hung" Deal This Year Add another vocal warning to the chorus singing about the dangers of private credit.  DoubleLine CEO Jeffrey Gundlach, who has been especially critical of private credit for the past year warning last November that the space “has the same trappings as subprime mortgage repackaging had back in 2006,” raised fresh concerns about financial advisers and other principals who ushered retail investors into private credit and other so-called...

Democrats Are Worried The GOP's Cash Advantage Could Hurt Their Chances In The Midterms The Democratic Party heads into the midterms with generic congressional ballot polling and historical precedent on its side. It is nevertheless worried that the majorities it so desperately wants could still slip away. Politico reported this week that Democratic strategists increasingly fear their favorable political environment could be overwhelmed by a Republican cash stockpile that dwarfs their own. Federal Election Commission filings through the end of June show the three main GOP national committees and their affiliated congressional...