World Cup Fans Drive Spending Surge In These US Host Cities

Ugly, Tailing 30Y Auction Makes History With First 5%+ Yield Since The Great Quant Crash Of Aug 2007 Moments ago, the last refunding auction of the week, the sale of $25BN in 30Y paper, made history: it was the first 30Y auction to print with a high yield above 5%, and a coupon of 5%, since August 2007... which as veteran traders will recall was the month of the historic quant crash which marked the S&P highs at the time and eventually culminated in the global financial crisis.  The auction priced...

President Donald Trump is back from his business trip to China which had a lot of ambiguity over issues like Taiwan without having done either much discernible damage or benefit to American interests. The trip ended with the American participants dropping all the gifts that they had received from the Chinese into a large garbage bin on […]

Shake Shack Gets Smoked After Cutting Guidance Shake Shack plunged on Tuesday, hitting its lowest levels since November 2023, after the burger chain slashed second-quarter guidance only about a month after issuing it. Baird analyst David Tarantino said the new outlook is viewed as "incrementally negative" for Shake Shack. Tarantino noted that management had set an "unusually high bar" for 2Q comparable performance with its previous outlook, implying mid- to high-single-digit comps in May and June after -.6%. He added that the updated guidance ranges may be attributed to new CFO...