Stellar 2Y Auction Stops Through On Most Foreign Buying Since March 2025

The common belief is that intellectual property rights must be in place, otherwise, entrepreneurs would be reluctant to face uncertain profitability. Well, entrepreneurs already face uncertainty and act, anyway.

Milei's "Miracle" Faces First Cracks As Argentina's Unemployment Rises Argentina’s much-touted turnaround under Javier Milei may be losing momentum, with fresh labor data pointing to a weakening jobs market, according to Bloomberg. By the end of last year, unemployment had climbed to 7.5%—the highest rate for a fourth quarter since the Covid era—reflecting a deterioration in employment conditions before the government pushed through its landmark labor overhaul. New figures show that joblessness in the formal sector increased for the first time in three quarters, while the share of workers in informal roles...

UBS Discusses Next Maritime Chokepoint Investors Should Watch A lot of attention has centered on the Strait of Hormuz since the waterway was effectively shut not only by the IRGC drone threat, but mostly because maritime insurers are withdrawing war-risk coverage across the region. Our focus now shifts to the other critical maritime chokepoints. If Washington can pressure Iranian oil flows and, by extension, curb China's cheap Gulf crude flows, then the Taiwan Strait and South China Sea also emerge as potential flashpoints that traders can no longer afford to...