Citi Calls Aerospace, Defense Stocks "Close To Major Tactical Bottom" After Brutal Selloff

Good Intentions Paved The Road To The 2008 Financial Crisis Authored by Paul Mueller via The Daily Economy, This week marks the eighteenth anniversary of the failure of Lehman Brothers, a key event of the 2008 global financial crisis (GFC). Lehman's failure and the GFC more broadly were dramatic economic events. Lehman Brothers was the largest bankruptcy in US history to date. The global financial crisis gave rise to the Great Recession. The stock market fell by more than 50 percent, the economy contracted by 4.3 percent, unemployment rose from 4.7...

'World's Largest' Heavy-Lift Cargo Aircraft Targeted For Military And Disaster Logistics Authored by Christopher McFadden via Interesting Engineering, Radia and Blue Water Shipping (Blue Water) have announced a strategic alliance that will combine the former's gigantic Windrunner aircraft with the latter's global logistics network. Under the agreement, Radia will supply the aircraft, and Blue Water will do basically everything else. Image of several Radia Windrunner aircraft taxiing.Radia "The companies expect to focus initial collaboration efforts across several strategic sectors, including energy and project cargo, humanitarian aid and disaster relief, aerospace logistics, and military...

Solid 20Y Auction Stops Through With Above Average Foreign Demand The week's lone coupon auction priced at 1pm when the Treasury sold $13 BN in 20Y paper, in a solid if not stellar auction. The auction stopped at a high yield of 4.883%, up from 4.817% in March and the highest since last July. It also stopped through the 4.892% When Issued by 0.9bps, the highest since January. The bid to cover was 2.68, down from 2.76 in March but above the 2.63 six-auction average. The internals were also solid with Indirects taking...