How Antitrust Populists Drove Spirit Airlines Out of Business

People continue to be hopeful that the new US-Iran deal will actually lead to a resolution of the ongoing Israeli invasion of Lebanon, though Israeli officials seem loathe to countenance such a possibility. The number of Israeli attacks does seem to have declined, at least in the near term. An Israeli drone strike against a […]

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...

US Existing Home Sales Disappoint (Again) In July, Hover Near Record Lows With mortgage rates rising and the 'low hire, no fire' economy leaving many anxious about their household finances, the ugly spring selling season has not been followed by a consistent rebound in existing home sales in the US. After falling 1.4% MoM in June (revised up from a 2.4% MoM decline), US existing home sales fell again -1.7% MoM in July (worse than the -1.0% MoM exp). This dragged the annual increase in sales down to just 0.74% YoY... Overall,...