Wall Street Democratic donors warn the party: We’ll sit out, or back Trump, if you nominate Elizabeth Warren

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Democratic donors on Wall Street and in big business are preparing to sit out the presidential campaign fundraising cycle — or even back President Donald Trump — if Sen. Elizabeth Warren wins the party’s nomination. In recent weeks, CNBC spoke to several high-dollar Democratic donors and fundraisers in the business community and found that this … Read more

Israeli politics remain in chaos after deadlocked election… General warns Iran situation reaching ‘level of war’

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Israeli politics remain in chaos after deadlocked election JERUSALEM (AP) — Benjamin Netanyahu has been tasked by Israel’s president to form a new government for the sixth time in his lengthy political career. This time it’s no mere formality, but rather a daunting endeavor that looks like mission impossible. After an inconclusive national election last week, Netanyahu … Read more

UPDATE: China Unveils ‘Super Surveillance Camera’ That Links To Social Credit System

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A new camera with a resolution five times more detailed than the human eye, able to monitor thousands of people in real time and identify individual faces has been unveiled by Chinese scientists, prompting renewed fears about mass surveillance. ABC News in Australia reports that the new 500 megapixel cloud camera AI system, dubbed a ‘super … Read more

The Great LIBOR Liquidation

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by Jess L. We are thrilled to introduce Jess L. as a new contributor to RIA. Jess started her career nearly two decades ago as a market maker at Goldman Sachs, followed by a stint at Merrill Lynch. After that, she moved over to the buy-side as a Portfolio Manager at Caxton Associates before ending … Read more

Cov-lite loans are about 80% of leveraged U.S. debt.

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via UPFINA: Cov-lite loans are loans with fewer covenants. That means they have fewer restrictions for borrowers. A lender might set a covenant based on leverage to ensure the borrower doesn’t fall into trouble. If the borrower violates a covenant, the lender can reprice the loan. As you can see from the light blue line in … Read more

Chinese Electric Vehicle Maker NIO divests from US listing, creating new entity “NIO China” in order to receive $1.5bn in state funding

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https://asia.nikkei.com/Spotlight/Electric-cars-in-China/China-s-NIO-to-receive-1.5bn-state-investment-as-EV-subsidies-fade The Shanghai-based, New York-listed company announced on Tuesday it has entered into a framework agreement with Beijing E-Town Capital to establish a new entity, NIO China, in the city’s economic-technological development area. E-Town Capital, which invests on behalf of the Beijing municipal government’s economic development agency, will acquire a minority stake in NIO China. … Read more

FTSE Russell leaves China out of flagship bond index: Move means country’s government debt market likely to miss out on inflows of up to $120bn

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via FT: FTSE Russell will not include China in its flagship government bond index, citing market liquidity and foreign exchange concerns in the country’s $5tn government debt market. The index provider, which released the results of its annual fixed income country classification review on Thursday in New York, said measures taken by Beijing to improve … Read more

WeWork’s Cash Clock Is Running Down Quickly

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via Bloomberg: WeWork has only enough cash to last to maybe next spring. It’s losing millions of dollars a day. It may be shut out of the public stock and bond markets to raise new money. So now the two new co-CEOs named to replace Neumann — Sebastian Gunningham and Artie Minson — need to … Read more

The Fed will need to grow its balance sheet ‘permanently,’ Morgan Stanley says

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The Federal Reserve’s asset purchases likely will total $315 billion over the next six months as it seeks to stabilize overnight funding markets and contain the movements of its target interest rate, according to projections from Morgan Stanley. Those permanent moves will be necessary because the current temporary purchases likely won’t be enough to stabilize … Read more

This is incredible! Buying health insurance for a family now costs the same as buying the family a new car every single year.

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This is incredible. Buying health insurance for a family now costs the same as buying the family a new car every single year.https://t.co/PucBSiLYyI pic.twitter.com/TQXNzjpfLH — Joe Weisenthal (@TheStalwart) September 25, 2019 Checks out https://t.co/0IcJwt6y4c — cat ferguson (@biocuriosity) September 25, 2019