Zelensky Expects War To Continue Through Winter, As Witkoff-Kushner Deliver 'Upbeat Assessment' From Putin Meeting

"The Cycle's TXU?": Paramount's Record Bond Offering Craters Before The Ink Is Dry On Monday we flagged that September was shaping up as the worst month for junk since 2022. We also noted that Paramount's $12.4 billion high-yield tranche would be bigger than SoftBank's recently issued record $11 billion junk deal. The next morning the company kicked off the high-grade portion. By Tuesday afternoon it reported $109 billion of demand.  With so much excess demand, the offering was supposed to fly off the shelves. It did not: the deal priced on...

China Economic Growth 'Downside Risk' Looms; Goldman Warns After July Macro-Miss-Fest China’s July activity data weakened from June, missing market expectations across the board, and signaling a soft start to Q3 amid continued divergence between resilient exports and subdued domestic demand. Originally slated for publication late last night (US time), the data release was delayed for five hours after the statistics agency revised its schedule in a break with recent practice. Industrial production (IP) growth slowed to 4.5% yoy in July from 5.3% yoy in June, reflecting slower export growth and...

Canada Taunts Beijing With Frigate's Taiwan Strait Transit Despite Carney's China Reset Just days before a high-stakes meeting of Canadian officials with Chinese Foreign Minister Wang Yi in Ottawa, a Canadian frigate defied Beijing’s explicit warnings and sailed directly through the Taiwan Strait.   The Halifax-class frigate HMCS Charlottetown pulled off the transit in a rare solo run, without American or other accompanying vessels, bypassing the usual joint patrols with allied nations. via Royal Canadian Navy According to a delayed statement from Canada's Department of National Defense spokesperson Andrée-Anne Poulin: "On May 22,...