SpaceX Shares Fall Below $135 IPO Price, But The Real Story Is Its Bonds

Global Demand Destruction: Subsidies, Empty Gas Stations, Rationing, Flight Cancelations, Export Limits, Price Controls In the past two weeks we have discussed demand destruction as a result of soaring oil prices (here and here), and we are increasingly seeing anecdotal evidence of just that (here is a table from Goldman we showed previously, laying out where demand destruction is most acute). We start, as always, with Asia which has emerged as ground zero of the global energy crisis - as a reminder last week we first presented a map by JPMorgan's...

Colombia's New President Orders Immigration Raids, Vows To Deport Illegal Immigrants Authored by Kimberly Hayek via The Epoch Times, Colombia's new president has ordered immigration raids this week and promised deportations of immigrants without legal status. Colombia's President Abelardo de la Espriella speaks during a press conference at the Palacio de San Carlos in Bogota, Colombia, on August 12, 2026. (Esteban Vega La-Rotta/AFP via Getty Images) President Abelardo de la Espriella, sworn in three weeks ago, described the move as a crucial step in reducing crime. The order went out during a security council...