One month ago, when the market was getting excited about the imminent Fed rate hike, now due less than one week from today, Jefferies analysts flagged a red flag about the imminent rate liftoff: few, if anyone, know precisely how it will take place in practice.
Moments ago, we learned courtesy of the head of Mutual Fund Research at Morningstar, Russ Kinnel, that the next leg of the junk bond crisis has officially arrived, after Third Avenue announced it has blocked investor redemptions from its high yield-heavy Focused Credit Fund, which according to the company has entered a "Plan of Liquidation" effective December 9.
Third Avenue says outflows would have forced them to accept "prices that would unfairly disadvantage the remaining shareholders."
The last time we looked at the "value" of Yahoo's core business was nearly a year ago, when the stock was trading at a comfortable $50/share, which however was entirely due to the result of YHOO's non-core business. This is how Citi estimate the value of Yahoo's core operations.
Update: according to NBC and FOX the suspect is now in custody:
UPDATE: Arkansas State Univ. says suspect is in custody, but lockdown continues amid police investigation. https://t.co/6m5APBLtm9
— NBC Nightly News (@NBCNightlyNews) December 10, 2015
Donald Trump, GOP frontrunner and self-styled anti-establishment candidate, knows how to entertain.
He also understands that he has built a political brand which garners momentum from the very type of controversy that would sink any other candidate in the field.
When you put those two things together, you have a recipe for bombastic rhetoric designed to hold the electorate in a perpetual state of shock and embed a tiny voice that says “you know, maybe he’s right” in the back of voters’ collective mind.