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P2P Meltdown Continues: LoanDepot’s CDO Collapses Just 10 Months After Issuance
We first noted Wall Street’s misguided plan to feed its securitization machine with peer-to-peer (P2P) loans back in May 2015 (see “What Bubble? Wall Street To Turn P2P Loans Into CDOs“). Obviously we...
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U.S. Startups Increasingly Tapping Debt Markets As VCs Pullback From...
After investing nearly $80 billion into startups in 2015, Venture Capitalists, growing slightly weary of the $1 billion valuations being handed out like candy to every 22 year old with an app that can...
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Goldman Sachs & Morgan Stanley Pull Off the Heist of the Decade, Bends Over...
President Obama implemented the Fiduciary Rule, which was supposed to go in effect next month. In short, it says financial advisors and salesmen had to put the best interests of thir clients ahead of...
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Saudi Arabia, Egypt, UAE, & Bahrain Cut Diplomatic Ties, Shut All Borders...
Just days after president Trump left the region, a geopolitical earthquake is taking place in the Middle East tonight as the rift between Qatar and other members of the (likely extinct) Gulf...
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Netflix Is Spending Twice As Much As Amazon On Content
When it comes to Netflix and its stratospheric (forward) valuation, the thesis is simple: the company is (so far) the undisputed leader in the arena of internet streaming. As the LA Times summarizes,...
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Tesla Upsizes Junk Bond Offering After Excess Demand
There’s covenant-lite and then there’s “zero covenant” junk debt, and moments ago Tesla just sold $1.8 billion of the former, upsizing what was previously expected to be a $1.5 billion issue. The...
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Shocking Admission From Global Head Of Strategy: “Our Clients Have Given Up...
For all the recent concerns about an “imminent” nuclear war with North Korea (not happening, according to the head of the CIA), which prompted a stunned reaction from Morgan Stanley which earlier today...
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Junk Bond Debt Covenant Quality Drops To All Time Lows
By Mark Rzepczynski of the Disciplined Systematic Global Macro Views blog Corporate spreads are tight and there is little room for further reduction given the absolute level of spreads. The reach for...
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Bill Blain: “Stock Markets Don’t Matter; The Great Crash Of 2018 Will Start...
Blain’s Morning Porridge, Submitted by Bill Blain of Mint Partners The Great Crash of 2018? Look to the bond markets to trigger Mayhem! I had the impression the markets had pretty much battened down...
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Mauldin: The Bonfire Burns On
Authored by John Mauldin via MauldinEconomics.com, “Life invests itself with inevitable conditions, which the unwise seek to dodge, which one and another brags that he does not know, that they do not...
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