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Passport Global Slammed With Over 60% In Redemptions In Q2

Passport Global Slammed With Over 60% In Redemptions In Q2

Back in April, we reported that the Long-Short Strategy Fund of John Burbank, one of the handful of investors who made a killing from shorting subprime, and head of what was at the time the $2.4 billion Passport Capital, was shutting down after a series of negative returns: according to HSBC, the fund - which had an AUM of $636 million as of March - had lost 2.1% in the first two months of this year and was down 11.8% in 2016.

North Korea Says Army Is "On Standby Waiting For An Order Of Attack"

North Korea Says Army Is "On Standby Waiting For An Order Of Attack"

Global markets are closed for the weekend, so we will need to wait until tomorrow evening to see how investors react to the latest back-and-forth between the North Korean government and President Donald Trump. In North Korea’s latest salvo in its war of words, a state-run newspaper declared in an editorial that the country’s Paektusan army is now “on standby to launch fire into its [the US’s] mainland, waiting for an order of final attack."

South Korean Credit Risk Spikes Above China's As Kim Chooses "Path Of No Return"

South Korean Credit Risk Spikes Above China's As Kim Chooses "Path Of No Return"

For the first time in four years, the credit market sees more risk of a South Korean sovereign default/devaluation than China.

After months of hit money flows in EM stocks sending KOSPI to record highs in the face of rising nuclear tensions with its neighbor, this week saw investors crack as Daiwa analysts warned "Kim looks to have chosen a path of no return."

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