JD CEO Warns 700,000 Delivery Workers Will Be Replaced By Robots "Sooner Or Later"

One-Year Inflation Expectations Jump To 3 Year HIgh: NY Fed Survey Americans' expectations for inflation over the near-tern jumped last month while their sentiment toward the labor market improved, the latest NY Fed Federal survey of consumer expectations showed on Wednesday. Consumers’ estimates for inflation one-year ahead rose to a median 3.9% in September, up from 3.6% the prior month, reaching the highest level since May of 2023. At the same time, inflation expectations increased 0.1% to 3.3% at three-year horizon, and were unchanged at 3.0% at five-year horizon.  Over the...

Trump Says No DHS Funding Without SAVE Act; Deploys ICE To Snarled Airports Federal immigration agents on Monday showed up to several major airports to help TSA agents manage long lines amid a showdown over funding for the Department of Homeland Security, which oversees the Transportation Security Administration.  The move comes after President Trump floated the idea over the weekend, which was echoed by border czar Tom Homan in a Sunday CNN interview.  "President Trump is using every tool available to help American travelers who are facing hours-long lines at airports across the country—especially...

"The Cycle's TXU?": Paramount's Record Bond Offering Craters Before The Ink Is Dry On Monday we flagged that September was shaping up as the worst month for junk since 2022. We also noted that Paramount's $12.4 billion high-yield tranche would be bigger than SoftBank's recently issued record $11 billion junk deal. The next morning the company kicked off the high-grade portion. By Tuesday afternoon it reported $109 billion of demand.  With so much excess demand, the offering was supposed to fly off the shelves. It did not: the deal priced on...