"Shocking Levels Of Distress": CMBS Delinquencies Unexpectedly Soar To Covid Highs

Key Events This Week: Central Banks Galore, PPI, And The War In Iran After Friday's revelation that it was the first consecutive monthly Friday 13th for 11 years, DB's Jim Reid writes that today's nearly-as-impressive revelation is that this week sees the Fed, ECB, BoJ and BoE all meet in a single calendar week for the first time since December 2021. So a "super week" for central banks. All of them will have a very complex backdrop to deal with, shaped by geopolitical risk, volatile energy prices, and unsettled inflation...

"Navigation Extremely Limited": Top Shipper Warns IRGC Mines Complicate Hormuz Normalization The top executive of Japan's largest shipping company told the Financial Times in an exclusive weekend interview that the path toward normalization in the Strait of Hormuz remains far more complicated than anticipated. He warned that shipping volumes may stay well below prewar levels for months, as IRGC-laid mines are forcing vessels into narrow, safer corridors near Iran and Oman. "The routes available for navigation are extremely limited — they're very narrow corridors," Takaya Soga, chief executive of Japan's NYK...

"The Impact was Devastating": Chicago's Cross-Burning Was Set By Liberal, Anti-Trump Protester Authored by Jonathan Turley, After the Southern Poverty Law Center scandal of actually funding and encouraging racist protests, it appears that at least one individual has created his own orchestrated racist incident. In Chicago (where Jussie Smollett committed his infamous racist hoax), a burning cross was denounced by Mayor Brandon Johnson as a sign of the racism in society. Johnson, however, refused to address the fact that the cross burning was actually the work of an anti-Trump liberal student. University of Illinois senior Merlin Lu...