Parker files Chapter 7 after Avalara deal collapse; $58m equity wiped
The e-commerce credit card startup shut down on 4 May after acquisition talks with tax-software firm Avalara collapsed. The Chapter 7 filing lists $50m to $100m in both assets and liabilities.
Economy
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NY Fed: 3.6M student loans in default
3.6 million federal student loan borrowers entered default as payments resumed, NY Fed data show Tuesday. Credit scores dropped 91 points.
Warsh confirmed: 12 Fed voters gather as Powell's final meeting looms
Kevin Warsh joins the FOMC this week after a 51-45 Senate confirmation, taking a seat at the table just three days before Jerome Powell's term as chair expires. With April inflation at 3.8% and Iran-driven energy costs still climbing, the 12 voting members are almost certain to hold rates steady.
Warsh Confirmation Meets 3.8% CPI as Rate-Hike Bets Eclipse Cuts
The April consumer price index rose 3.8 per cent year-over-year, beating every Wall Street estimate as Kevin Warsh's Senate confirmation vote approaches. Markets now price a greater than 50 per cent chance of a rate increase by January 2027, upending the rate-cut mandate that defined his nomination.
ECB's Nagel: Two More Rate Hikes Are the Baseline
Bundesbank President Joachim Nagel said the ECB's baseline scenario now includes two additional rate increases this year as the Iran war fuels inflation, hardening the case for a June move.
Commodities
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PDBC Commodity ETF Surges 50% on Crude's Run to 98th Percentile
The Invesco PDBC commodity ETF has returned 50% over twelve months as crude oil climbed to the 98th percentile of its historical range. The rally, concentrated in energy futures, raises the question of whether the gains can hold.
Gold's 12% Iran sell-off is a rates story, not a haven failure
Gold has fallen 12 per cent since the Iran conflict began, defying the safe-haven script. ING's Ewa Manthey says the sell-off is a macro story — real yields and a strong dollar — not a structural failure. J.P. Morgan and the ECB see central bank demand keeping the bull case intact.
Earnings
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Markets
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Schiff flags regime shift as oil, yields and gold climb
Oil, Treasury yields and gold are rising in tandem for the first time since 2022 — a correlation breakdown that Peter Schiff says signals a market regime change driven by persistent inflation. Traditional economists see cost-push pressure arriving faster than Schiff's model predicts.
Morgan Stanley MSBT draws $194m in debut month with zero outflow days
Morgan Stanley's spot Bitcoin ETF completed its first trading month with roughly $194 million in net inflows and not a single day of net redemptions, setting a benchmark for Wall Street crypto products backed by a brand name rather than an advisor sales force.
Oil surges 8% to $109 after Trump rejects Iran peace offer
Brent crude surged 8 per cent to $109.74 a barrel after President Trump rejected Iran's peace proposal as unacceptable, extinguishing weeks of cautious optimism that diplomacy could reopen the Strait of Hormuz.
Gundlach urges 20% cash, 20% commodities as 2026 Fed cuts fade
DoubleLine Capital chief investment officer Jeffrey Gundlach told Bloomberg the Fed will not cut rates in 2026 and that investors should hold 20 per cent in cash and 20 per cent in commodities. He would buy gold below $3,500 an ounce.
Latest
Real Brokerage acquires RE/MAX for $880M in stock-and-cash deal
The Real Brokerage agreed to acquire RE/MAX Holdings for $880 million, forming a combined real estate platform with 180,000+ agents across 120-plus countries.
SEC, CFTC align on six enforcement fronts
SEC and CFTC launched coordination across six regulatory fronts to eliminate duplicative enforcement, CFTC Chair Michael Selig said.
SoFi's $1.5 billion capital raise was opportunistic
SoFi raised $1.5 billion at $27.50 a share, sparking a 6% slide despite record Q4 revenue. CEO Anthony Noto calls it opportunistic; Bank of America questions the timing.
The ECB held rates in April. A June hike now looks like the baseline.
Eurozone inflation jumped to 3.0 percent in April, driven by an Iran-conflict energy shock, and ECB policymakers are signaling the first rate hike since the easing cycle is coming in June.
Senate advances Warsh Fed nomination as inflation pressures mount
The Senate voted 49-44 on Monday to advance Kevin Warsh's nomination as Federal Reserve chair, setting up a May 15 confirmation vote that would hand him a central bank grappling with 3.3% inflation and an impatient White House.
Prosecutors charge 30 in BigLaw M&A insider trading ring
Federal prosecutors have charged 30 defendants in a decadelong insider trading scheme that saw M&A lawyers at six major US law firms steal confidential deal data and funnel it to traders.
April CPI seen at 3.7%, highest since 2023, on Iran oil spike
The April consumer price index is expected to show US inflation accelerating to 3.7% year-on-year, the fastest pace since September 2023, as the oil shock from military strikes on Iran feeds through to gasoline and grocery prices.
eBay rejects GameStop's $56bn takeover bid as 'neither credible nor attractive'
eBay's board rejected Ryan Cohen's $56 billion bid Monday, calling it 'neither credible nor attractive' over financing gaps and governance concerns.
Southeast Asia PE deal value jumps 2.5x to $9.2bn in first quarter
Private equity dealmaking in Southeast Asia hit $9.2 billion in Q1 2026, the highest quarterly total in five years, driven by three megadeals in digital infrastructure. Exit proceeds also jumped 75 per cent to $1.7 billion.