GameStop Shares Plunge As $1.4 Billion Debt-For-Equity Swap Threatens Dilution

Meanwhile In Scotland... Authored by Steve Watson via Modernity.news, A trans Tamil immigrant on a temporary student visa has just been ELECTED as a Green Party MSP to Holyrood in Scotland – despite having no British citizenship, no permanent residency and no right to full-time work. Where else would this be allowed to happen? It’s insane. The candidate, Dr Q Manivannan (they/them), arrived in the UK a few years ago as a PhD student and was selected for the Green list in Edinburgh and the Lothians East. Scotland’s rules – relaxed under the...

Populism Is Not Dead Yet: Bulgaria's Pro-Russia Ex-President Radev Wins In Landslide Victory Despite Orban's loss in Hungary earlier this month, Europe's populist right is not dead by a longshot. Official results released Monday show former President Rumen Radev’s Progressive Bulgaria coalition capturing roughly 44.6-44.7% of the vote in Sunday’s snap parliamentary elections, delivering an absolute majority of approximately 130-135 seats in the 240-seat parliament. It marks the first time since 1997 that a single political force in Bulgaria will be able to govern without coalition horse-trading. Radev, who stepped down...

Average 2Y Auction Is A Big Improvement From Last Month's Debale In today's first of two coupon auctions (due to the week's truncated schedule as the Fed is on Wednesday), the US Treasury sold $69BN in 2 year paper in a mediocre auction, yet one which was notably stronger than last month's issuance. The sale stopped at a high yield of 3.812%, down from last month's 3.936% and tailing the When Issued 3.811% by 0.1bps. This however was a big improvement from last month's 1.8bps tail, which was the biggest since...