Financial Daily Dose 8.29.2019 | Top Story: South Korea High Court Could Send Samsung Heir Back to Jail

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A ruling this morning from South Korea’s top court means that Samsung’s de facto leader, its vice chair and chaebol heir Lee Jae-yong, could be heading back behind bars. The high court found that a lower appeals court “had underestimated the value of the bribes” he provided to former South Korean president Park Geun-hye, jeopardizing Lee’s release in February 2018. A lower court will now retry the case – NYTimes and WSJ

Treasury Secretary Steven Mnuchin revealed yesterday that the White House is toying with the idea of issuing “ultra-long U.S. bonds,” a move that “would mark a historic revamp of the $16 trillion Treasuries market” – Bloomberg

Even as equities roller coaster and prompt serious concerns about a coming recession, bond investors have been living the dream, soaking up the benefits of the rush to the relative stability that bonds offer – NYTimes

Prorogation: a quick primer for you anglophiles and Brexit-watchers out there – NYTimes

The numbers tend to speak for themselves, but to drive home the point for all kinds of learners, the Journal gives us the 12-chart treatment for understanding the debacle that the Bayer/Monsanto merger has become – WSJ

Maine federal judge Jon Levy has rejected Merrill Lynch’s effort to dismiss a proposed class action “accusing the company of misleading [investors] on the state tax savings of investing” into the state’s 529 educational savings program – Law360

Dr. Michael Burry, of “Big Short” fame, has his eye on a new bubble lurking in the financial markets—the “rush of money into passively managed funds” and the associated fear that “such a concentration of money in passive investments could amplify any market selloff” – MarketWatch and Bloomberg

The successor to the now-defunct Residential Funding Co. has sued mortgage company LendingTree in an effort to collect a $68.5 million judgment, arguing LT is responsible for the liabilities of its now-bankruptcy subsidiary – Law360

Some thoughts about whether Peloton can ride the wave of its exercise “next big thing” into long-term results, both as a company and as a public stock – NYTimes

Clothing retailer Forever 21 is reportedly preparing for a bankruptcy filing as efforts to secure additional financing have stalled – Bloomberg

San Fran Fed president Mary Daly is joining the quiet chorus of Fed officials expressing concerns about “keeping monetary policy on overly easy settings,” though she didn’t go so far as to call for raising rates any time soon – WSJ

Bloomberg goes all in on the periodic table, and truly, it’s something to behold – Bloomberg

MDR

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