Bonds & Stocks
In the throes of April’s market chaos, one London fund manager found a relatively simple and cheap way to unload its unwanted bonds. Taking a page from the playbook of credit traders, Legal & General bundled up assorted gilts into portfolio trades of sovereign debt. Portfolio trading — in which a basket of bonds is traded in one swoop — has transformed the market for less-liquid corporate bonds by bundling them with more popular peers.
Economy
There’s a growing gap between what low-income families earn and what it actually costs to live in the US, according to a new study that says headline measures of inflation fail to capture the burden on these households.
World
Israeli Prime Minister Benjamin Netanyahu would normally celebrate a hostage release such as that taking place on Monday, though in this case the deal with Hamas is another sign US President Donald Trump is starting to make decisions without him.