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Backroom Detente: A Curious Lack Of Iranian Strikes On UAE, While Others Get Hit
Backroom Detente: A Curious Lack Of Iranian Strikes On UAE, While Others Get Hit
President Trump is vowing another consecutive night of even heavier US military strikes on Iran. Yesterday's salvo involved at least 49 Tomahawk missile strikes, mainly happening against southern coastal areas off the Strait of Hormuz.
Amid Iran's counter-attacks on Gulf nations and reportedly on American bases hosted in these Arab Gulf allied states, there's been a curious lack of any new launches against the United Arab Emirates.
Kuwait and Bahrain have been hit especially hard in this week's...
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Earlier this month, when much of the attention was largely focused on private credit, we warned that one of the old, familiar credit market time-bombs, commercial real estate which for many years had been penned as the "Next Big Short", was deteriorating rapidly: according to the latest TREPP CMBS monthly report, March saw a surge in the CMBS delinquency rate, which jumped by 41bps to 7.55%, the highest in years, led by a surge in the lodging rate, a category which until now was...
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