Frontrunning: August 18
Hunt for Driver Widens as Second Attack Hits Spain, Five Suspects Are Killed (WSJ)FT loses it over bitcoin's relentless rise (FT)China Codifies a Crackdown on ‘Irrational’ Outbound Investment (BBG)U.S....
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Facing Imminent Bankruptcy, Toys "R" Us Enters Death Spiral
Last week's news that Toys “R” Us has hired bankruptcy lawyers Kirkland & Ellis to help restructure its heavy debt load, came as a shock to the company's creditors, who promptly sent its bond...
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Toys "R" Us To File Bankruptcy Any Minute; Bonds Crash
Over the weekend, we reported that vendors to iconic toy retailer Toys "R" Us had halted shipments over payment concerns and/or getting their receivables crammed down alongside other unsecured claims...
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Toys "R" Us Files Chapter 11: Second Largest US Retail Bankruptcy In History
Toys “R” Us Inc., the largest US "brick and mortar" toys retailer, filed for bankruptcy late on Monday night, as a result of a crushing post-LBO debt load and relentless competition from warehouse and...
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Bill Blain: How To Catch Rabies In The Junk Bond Market
From Bill Blain of Mint PartnersBlain's Morning Porridge - How to catch rabies in the Junk Bond MarketI’m sure everyone has been following the Toy R Us meltdown in the bond market. Alongside chapter 11...
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Founding Trio Of $158 Billion PE Titan Carlyle Is Stepping Down From Day To...
Carlyle, the favorite private equity firm of Washington D.C. and the "military industrial complex", has named two executives as successors to the ageing founders of the $158 billion fund, the latest...
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Yield Curve Crushed To 10 Year Lows As Stocks Signal Trump-Tax-Plan Won't Pass
The bond market's reaction to the Trump Tax Plan... Bonds and Bullion were immediately bid and stocks and the dollar sank on the Trump Tax plan release - but as Europe closed, gold was 'managed' down,...
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Kyle Bass Is Having A Bad Day - Greek Bank Stocks Crash To 16-Month Lows
Just over a month ago, Kyle Bass discussed why he was long effectively"long Greece."Bass penned a Bloomberg editorial in which the hedge fund founder and CIO called on the IMF to stop bullying Greece-...
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India's $207 Billion Mess Is Once-In-A-Lifetime Opportunity For Asia's...
In October, we discussed Indian Prime Minister, Narendra Modi’s, decision to hand over $32bn to recapitalise India’s state banks. The motivation was India’s slowing growth rate and the need to add one...
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These PE Firms Are About To Get Crushed By Their Subprime Auto Bets
In the aftermath of the 'great recession,' private equity firms placed massive bets on subprime auto finance companies with the typical "thesis" going something like this:"well, people have to get to...
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