Trump Backtracks on 20% Hormuz Strait Fee, Says He Wants ‘Trade and Investment Deals’ From Gulf States

"Shocking Levels Of Distress": CMBS Delinquencies Unexpectedly Soar To COVID Highs With market focused on private credit as the next credit market crisis vortex, many have forgotten that CMBS, the asset class that was smashed in the aftermath of covid as hundreds of office buildings were suddenly left vacant, has been teetering on the edge for years. For some, it proved to be a lucrative bet as the "next big short" after various office-heavy CMBX tranches collapsed in 2020 and 2021. But due to the slow-burning nature of commercial real-estate...

Trump Signals Willingness To Sell Turkey F-35 Jets Despite Loud Netanyahu Protests Israel and Turkey are in a bit of a tug-of-war with President Trump and potential major arms deals hanging in the balance. Israeli Prime Minister Benjamin Netanyahu had vehemently complained to Trump in a Friday call about Turkish President Recep Tayyip Erdoğan's escalating anti-Israel rhetoric, officials cited in Axios said. Netanyahu specifically pressed Trump block sales of weapons systems to Turkey, especially those that would help Turkey modernize its air force. Of central issue remains potential F-35 transfer, which if carried through would...

Chinese Containership Is First To Pay Iran For "Safe Passage" Through Strait As Iraqi Tanker Crosses With Signal Off The blockaded Strait of Hormuz is getting progressively less "blockaded" by the day. Over the weekend we reported that "Iran was Ready To Let Japanese Ships Use Hormuz As Chinese, Indian Tankers Already Allowed Passage." We can now add Iraq to the growing list of nations whose vessels are transiting the infamous Strait. An oil supertanker hauling two-million barrels of Iraq’s crude got through the Strait of Hormuz, the first vessel observed moving...