The price of credit default swaps, which insure holders against government default, are now more expensive for U.S. treasury securities than for the same protection in Brazil, Greece, or Mexico, Bloomberg reported.
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RECESSION COULD THROW $1 TRILLION OF DEBT INTO DISTRESS
A U.S. recession would tighten the credit market and could throw more than 8 percent of corporate bonds—about $920 billion worth—into distress, the last step before default, according to a client note from Bank of America (BoA) analysts.
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PLASTIC IS EVERYWHERE NOW, INCLUDING YOUR BRAIN
We live in a throwaway society, and products intended for short-term consumption are packaged in materials that will survive for centuries.
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BYE-BYE BIDEN: KENNEDY 2024
President Joe Biden and his campaign are confident that he can pull in over $1 billion for the 2024 presidential election despite lagging poll numbers and concerns about his age.
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LAYOFFS, PRODUCER PRICES INCREASE: WORST IS YET TO COME
Applications for unemployment benefits rose by 22,000 to 264,000 in the most recent week, the largest number since October 2021, following a series of dramatic staff cuts among Microsoft, Twitter, and other tech giants as well as companies in finance and other industries.
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BON APPÉTIT: ‘FOREVER CHEMICALS’ USED IN PESTICIDES SPRAYED ON FOOD CROPS IN U.S.
Pesticides that are commonly used in the U.S. have been found to contain PFAS, or per- and polyfluoroalkyl substances, which are toxic and linked to serious illnesses in humans.
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U.S. FORMALLY ENDS ITS CRISIS RESPONSE TO COVID-19 OUTBREAK
The U.S. announced last week that its emergency response to COVID-19 is officially over, but warned that the virus is still infecting people.
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WWIII: AUSTRALIA INCREASES ITS MILITARY BUDGET TO RECORD LEVELS AMID TENSIONS WITH CHINA
Australia took another step in its militarization last week after releasing its 2023-2024 budget with an increase in military spending that represents 2.04 percent of its GDP, which amounts to a record sum.
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DUH-MOCK-RACY: LOVE CHARLIE THE KING OR GO TO JAIL
Democracy is under attack in the UK.
British police exercised new powers to snuff out protests before the coronation of King Charles III earlier this month, which drew swift scrutiny from those who called the new law, Public Order Act 2023, excessive and an attack on freedoms.
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CHINA TELLS EUROPE: U.S. POLICIES WILL HURT YOUR COUNTRY
China’s top diplomat conducted his first European tour last week in an effort to pull the EU from Washington’s orbit by stressing how these countries would be badly damaged economically if they take the U.S.’s zero-sum game approach to diplomatic relations with Beijing.