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Bond news gathered from trusted sources: new issues, redemptions, calls, defaults and price and yield moves

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Zero HedgeZero Hedge
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Global Crop Prices Log Biggest Quarterly Jump Since Ukraine Invasion As Sticky Inflation Hits Grocery Bills

BondsInflation

Global Crop Prices Log Biggest Quarterly Jump Since Ukraine Invasion As Sticky Inflation Hits Grocery Bills The Bloomberg Agriculture Spot Index (BCOMAGSP) posted its largest quarterly gain since Russia invaded Ukraine in early 2022, as Black Sea disruptions, a crisis in the Strait of Hormuz, and mounting El Niño risks have formed what could be considered a perfect storm poised to drive food prices higher. BCOMAGSP, which tracks 10 major crops including corn, soybeans, wheat, coffee, sugar, cotton, cocoa, and others, jumped 13% in the third quarter . Among individual movers, corn and wheat each climbed 15%, while soybeans gained 13%. Beyond the Russia-Ukraine fighting and disruptions to grain shipments from the Black Sea region, the next big threat to the crop space is a strengthening El Niño, on track to rank among the strongest on record. This puts various types of crops in major growing belts around the world at risk and has sent harvest yields plunging. Already, India's weakest monsoon season in a decade has added to concerns about harvests and food prices.

3 days ago
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Zero HedgeZero Hedge
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Xi Will Return And Put His Foot On The Pedal To Develop Better Chips, Better Models, And The Energy To Drive That Compute

Bonds

Xi Will Return And Put His Foot On The Pedal To Develop Better Chips, Better Models, And The Energy To Drive That Compute We came into this week with a list of things to think about with the Fed Behind Us , and a SITREP focusing on the Houthis vs Saudi Arabia . We also kicked off the week with a preview on CNBC. Our “official scoring” was stocks did well, Bessent faced setbacks on bonds and the yen, and for the world, well, not as much clarity as we could have hoped for. I was going to go with i instead of ? but √−1 seemed overly complex vs ? even if it is more reflective of the current complex state of the world! We weighed in on some possibilities in Let’s Make a Deal: NYC Style . We started off with a bang, with the Greenland deal and a pre-summit trade “status quo” extension, but finished the week with a lot of wasted opportunities. The confusing messaging with Ukraine and Russia (confusing on everything except a desire for diesel prices to go lower). The contradictory messaging with Iran: public threats, closed door meetings allegedly leading to a deal, the terms of which seemed to be rejected by the President on Friday after the close.

7 days ago
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OrissapostOrissapost
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THE REAL ‘FREE WORLD’

Bonds

A nyone old enough to remember the Cold War will also remember an imagined place called the “free world.” It was where Westerners believed they lived, while Eastern Europeans, Russians, and Chinese lived behind barbed wire. The description was partly true, insofar as there was barbed wire, and there was a kind of freedom outside the Communist world. But the overall story was a lie. After all, the free world included the Shah’s Iran, Augusto Pinochet’s Chile, and Francisco Franco’s Spain. These countries were anything but free, yet because they were anti-Communist, they were granted membership in the club. Meanwhile, the club’s leader, the United States, regularly proclaimed how free it was, even though its own Black citizens were denied the vote in the American South until 1965. The free world, in other words, was a noble lie. It helped us imagine the world we wanted to live in, and it helped US presidents from John F. Kennedy to Ronald Reagan articulate important truths. They told us that the Berlin Wall was a moral abomination, not a fact of life that we would just have to accept, and they were right.

11 days ago
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The FINANCIALThe FINANCIAL
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Tech CEO, Russian National Arrested in Idaho

Bonds

LOS ANGELES – The CEO of a Virginia-based software company and a Russian national have been arrested on a federal criminal complaint charging them with concealing from U.S. government agencies that their company was owned and controlled by Russian nationals and that its software was developed in Russia, the Justice Department announced today. Lee Reiber, 55, of Boise, Idaho, was arrested in Idaho on Sunday, made his initial appearance on Tuesday in U.S. District Court in Idaho, and was ordered released on bond. He is expected to be arraigned in Los Angeles federal court in the coming weeks. Oleg Sergeyevich Davydov, 52, of Moscow, Russia, was arrested on Sunday at London Heathrow Airport in the United Kingdom prior to boarding a flight to Istanbul. The United States expects to seek Davydov’s extradition. The defendants are charged with conspiracy to commit wire fraud. Reiber allegedly represented to the government that the company had no foreign ownership or control and that its software was developed in the United States, when in fact five Russian nationals, including Davydov, owned and controlled the company and its software was developed in Russia.

11 days ago
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