It is the 22nd of September 2017

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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 ahead of what appeared to be an imminent bankruptcy. Well, they were right, and according to Bloomberg a Chapter 11 filing by Toys "R" Us is to be expected as soon as tonight.

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China Treasury Holdings Rise For 6th Month, But The Streak May Soon Be Ending

According to the latest Treasury International Capital report issued today, four of the top five US foreign creditors added to their holdings of US Treasurys in the month of July (not adjusted for market price fluctuations), with the two largest, China and Japan, adding $19.5BN and $22BN to $1,113.1BN and $1.166BN, respectively (the Cayman Islands, i.e. hedge funds, saw a modest reduction from $265.2 to $259.2 billion). This was the 6th consecutive month of gains for China since its holdings dipped to multi-year lows in late 2016, bringing its Treasury holdings to the highest since August 2016. More surprising here is the steady bleed in Japanese TSY holdings, which despite the modest pick up in July have been on a steady downward trends since 2014.

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Tech Tumble Spooks Stocks (Briefly) As VIX Curve Steepens To 7-Month Highs

"A day above ground is a day to buy stocks..."

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It's Up To McCain: Republicans' Last Ditch Push To Repeal Obamacare Gains Momentum

Update from Bloomberg: McCain still on the fence:

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Algeria Officially Launches Helicopter Money Amid Sliding Oil Revenue, Budget Crisis

One year ago, the imminent arrival of helicopter money among endless discussions of pervasive lowflation was all the rage within high-finance policy circles. Then, everything changed as if on a dime, and in recent months the dominant topic has been global coordinated tightening - and in some cases even revisions to central bank mandates and the lowering of inflation targets - perhaps as a result of central banks' realization that monetizing debt by central banks leads to bad outcomes, not to mention global asset bubbles.

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