Mediocre 2Y Auction Prices At Highest Yield Since Feb 2025

Judge Slaps A 14-Day Timeout On Paramount-Warner Bros. Mega-Merger A federal judge just threw a wrench into one of the biggest media shake-ups in years. On Monday, U.S. District Judge Araceli Martinez-Olguin (Biden) temporarily blocked Paramount Skydance's $110 billion takeover of Warner Bros. Discovery, giving a coalition of 12 state attorneys general a short-term win in their fight to kill the deal. The temporary restraining order lasts 14 days - half the 28 days the states had requested - and prevents Paramount from closing the transaction that would combine two historic...

Aluminum Supply Shock: Top Gulf Producer Halts Operations After Iran Strike, Price To Spike Over the weekend, both Emirates Global Aluminum (EGA) - the largest aluminum producers in the Gulf - and Aluminium Bahrain (ALBA) reported drone attacks damaging smelting facilities after hits on Iranian steel infrastructure last week. Neither company (at the time) confirmed whether supply will be impacted, but this morning the worst case appears to be confirmed with Reuters reporting that according to a Wednesday note by consultancy Wood Mackenzie "EGA's Al Taweelah facility in the United Arab Emirates halted...

Romanian officials on Sunday claimed one of their pilots shot down a Russian drone in Romanian airspace on Friday, July 24. They claimed two more Russian drones were shot down over the weekend. In response, Romania’s Ministry of Foreign Affairs demanded a Monday meeting with Russia’s ambassador to Romania, Vladimir Lipayev. They presented him with […]