What we’re reading (7/16)
“Debt-Market Jitters Come For Leveraged Loans” (Wall Street Journal). “For most of 2022, junk-rated loans made to debt-laden companies gave investors stability amid battered credit markets. Now, recession fears are pushing down loan values and cutting returns in the $1.4 trillion leveraged-loan market.”
“Nothing Short Of Terrifying” (City Journal). “The latest report from the Labor Department is nothing short of terrifying. The worst news concerns those two essentials, food and fuel. Overall, food prices rose 1.0 percent in June and are 10.4 percent above year-ago levels. The prices of food at home stood 12.2 percent above year-ago levels. Energy prices overall rose 7.5 percent in June and stand 41.6 percent above where they were in June 2021—scarcely more than a year ago. Gasoline prices rose 11.2 percent in June alone and stand a whopping 60 percent higher than a year ago.”
“AQR’s Quieter Comeback” (Institutional Investor). “AQR’s managed futures strategies are enjoying a big comeback. Both of the firm’s managed futures funds – the AQR Managed Futures Strategy HV I and the AQR Managed Futures Strategy N – delivered positive returns in June and for the year, according to information Morningstar Direct provided to II. The former earned 49.3 percent in the first half of the year, ranking it first in Morningstar’s Systematic Trend category, which includes 30 funds.”
“How Companies Subtly Trick Users Online With ‘Dark Patterns’” (CNN Business). “An ‘unsubscribe’ option that's a little too hard to find. A tiny box you click, thinking it simply takes you to the next page, but it also grants access to your data. And any number of unexpected charges that appear during checkout that weren't made clearer earlier in the process. Countless popular websites and apps, from retailers and travel services to social media companies, make use of so-called ‘dark patterns,’ or gently coercive design tactics that critics say are used to manipulate peoples' digital behaviors.”
“A Copper Shortage Is Likely Coming For The Energy Transition” (Gizmodo). “By 2035, the global demand for copper is projected to nearly double, according to a new S&P Global report released Wednesday. In the worst-case scenario, based on our current production trends, the report projects a shortfall of 9.9 million metric tons of copper in 2035.”
