Off-the-run credit liquidity is the worst since March 2020

Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Here are some interesting lines from Apollo’s chartmeister Torsten Sløk, showing the spread between the bids and the asks for off-the-run and more liquid investment-grade corporate bonds (high-res link): We knew that credit markets were … Read more

Canadian oil producers see opportunity in Donald Trump’s trade war

This article is an on-site version of our Energy Source newsletter. Premium subscribers can sign up here to get the newsletter delivered every Tuesday and Thursday. Standard subscribers can upgrade to Premium here, or explore all FT newsletters Welcome to Energy Source, coming to you from London where the International Energy Agency has just cut its expectations … Read more

A Chips Act cautionary tale

This article is an on-site version of our Unhedged newsletter. Premium subscribers can sign up here to get the newsletter delivered every weekday. Standard subscribers can upgrade to Premium here, or explore all FT newsletters Good morning. Sujeet here, subbing for Rob and Aiden. It is good to make another cameo at Unhedged today, this … Read more

EU explores legal options for ending Russian gas deals

Stay informed with free updates Simply sign up to the EU energy myFT Digest — delivered directly to your inbox. Brussels is exploring legal options that would allow European companies to break long-term Russian gas contracts without paying hefty penalties to Moscow. The European Commission has been studying the contracts and the possibility of declaring … Read more

Millions have been left behind by the payday loans crackdown

Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. This article is the latest part of the FT’s Financial Literacy and Inclusion Campaign Everyday Loans is getting a facelift. The subprime personal lending company that typically offers £3,000 loans last month rebranded as Evlo … Read more

British Steel needs a forever subsidy

Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Globalisation hangs on a simple, alluring idea: make things where doing so is cheapest, then ship them to and fro. But it only works if the second half of that scenario remains viable. If there’s … Read more