Colombian Inflation Unexpectedly Speeds Up In Setback for Petro
Annual consumer price rises unexpectedly accelerated to 4.9% in July after two months of cooling inflation, the national statistics agency announced on Friday. The July print exceeded the median forecast of 4.82% in a Bloomberg survey of economists. Prices rose 0.28% from the previous month.
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American Airlines Moving Forward With Major Change Coming in 2026
American Airlines is making a major change that will come in 2026 after high demand from travelers as the carrier extends its presence in Europe and South America with six new routes. American will debut new service to Prague and the only nonstop service from the U.S. to Budapest, Hungary. The airline will also add new routes to popular destinations including Athens, Milan, and Zurich, while expanding service in summer to Buenos Aires. Why American Airlines Made the Change Brian Znotins, American's Senior Vice President of Network and Schedule Planning said a statement revealing customer demand drove the decision. 'Customers continue to tell us that Europe is where they want to go each summer and these new routes make it even easier to cross the Atlantic in 2026," he said. 'We are excited to grow our network to new destinations like Prague and Budapest and offer even more premium travel experiences on our flights to Tokyo.' When Do the New Routes Begin? In May 2026 American plans to launch service from Philadelphia to Budapest and Prague. In the same month, American is also expanding international service to Athens and Milan with daily service between Dallas Forth Worth and Athens coming in May. In March 2026, American will launch daily service from Miami to Milan with a non-stop flight. The airline also announced a "special" for global soccer fans as the carrier launches limited-time service between Dallas Fort Worth and Zurich between May 21 and Aug. 4 2026 and offers expanded summer service for four weeks from Dallas Fort Worth and Miami to Buenos Aires. American wasn't quite done there, though, as the airline announced expanded options to Tokyo. "Travelers who have their eyes on a summer getaway to Asia next year will have more options to enhance their journey with increased premium cabin offerings. Compared to summer 2025, American will increase premium seating capacity to Tokyo from Dallas Fort Worth and Los Angeles by more than 45 percent next summer," the company Airlines Moving Forward With Major Change Coming in 2026 first appeared on Men's Journal on Aug 7, 2025 Solve the daily Crossword
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Everything's Expensive. There's Nowhere to Hide: Credit Weekly
(Bloomberg) -- Credit market bargain shoppers are having the hardest time finding deals in at least a generation. New York Warns of $34 Billion Budget Hole, Biggest Since 2009 Crisis Three Deaths Reported as NYC Legionnaires' Outbreak Spreads All Hail the Humble Speed Hump A New Stage for the Theater That Gave America Shakespeare in the Park Chicago Schools' Bond Penalty Widens as $734 Million Gap Looms A relentless rally has left valuations stretched on just about all high-grade company debt globally. The difference between spreads on individual bonds and the average of the index is the lowest on record, according to data compiled by Bloomberg going back to 2009. Risk premiums are low for top-notch and weaker companies alike. In junk bonds the spread variability, or dispersion, is at its lowest since right before the onset of the Covid-19 pandemic. Investors looking to juice their returns now typically have to take on a lot more risk for not much extra yield. When a client asked Insight Investment's April LaRusse for ways to boost spreads without materially amplifying potential losses in recent weeks, she didn't have an immediate answer. 'It's certainly not easy to find ways to get more yield without introducing different risk,' said the head of investment specialists in an interview. 'It's pretty tricky. When you get tight spreads, you get a lot less dispersion.' The growth of both credit index and fixed-maturity funds probably plays a role here: investors are increasingly just buying most of the market, flattening out the differences in bonds' yields. The lack of variability makes it difficult to find bargains. Massive inflows have swamped corporate bond funds recently as investors chase securities offering higher yields than Treasuries, even if spreads are relatively tight. Insurance companies have also been packaging company debt into annuities to sell to the growing number of US retirees. Meanwhile, the average risk premium for global high-grade bonds stood at 82 basis points on Thursday, close to its tightest level since before the global financial crisis, data compiled by Bloomberg show. It's not much different in the junk-rated market, where spreads are roughly a quarter of a percentage point away from the post-crisis lows set in February. There are reasons for investors to be cautious about amping up risk to boost returns. Job growth in the US cooled sharply in the past three months. And concerns about deteriorating economic activity in the US are starting to take over tariff-induced inflation as the biggest peril in the market, according to the latest purchasing managers index surveys. 'It's proving a challenging market,' said Andrew Chorlton, chief investment officer of fixed income at M&G Investments. 'There's just quite a lot of complacency in credit at the moment.' While the firm still has significant exposure to corporate debt, its portfolio managers have increased positions in more defensive assets: cash, government bonds, covered bonds and AAA securitized paper, Chorlton said. Those categories should do better than 'blindly continuing into the corporate bond market assuming that things will be this good forever,' he added. Finding cheap high-yield bonds is also a challenge. Winnowing out differentiated yield without dipping down into distressed debt or deeply junk-rated debt that's not trading at wide enough levels has been a key concern for Al Cattermole, fixed income portfolio manager at Mirabaud Asset Management. 'I don't want to add CCCs that are trading like Bs,' Cattermole said, referring to different rating bands in the junk bond market. 'That's the conundrum for us at the moment.' Week In Review President Donald Trump signed an executive order easing access to private credit, real estate, cryptocurrency and other alternative assets in 401(k)s, a major victory for industries looking to tap some of the roughly $12.5 trillion held in those retirement accounts. Meta Platforms Inc. selected Pacific Investment Management Co. and Blue Owl Capital Inc. to lead a $29 billion financing for its data center expansion in rural Louisiana as the race for artificial intelligence infrastructure heats up. Pimco is expected to lead a $26 billion debt portion of the deal. Distressed Hong Kong developer New World Development Co. said that Blackstone Inc. has not made an offer for its shares, following a media report on potential financing that triggered the biggest equity rally in several months. Issuers piled into the investment-grade market, with weekly volume above $40 billion, the most in three months and well above dealers' forecasts of $25 billion to $30 billion. Marc Rowan, Chief Executive Officer of Apollo Global Management Inc., said trading private assets has the potential to turn the industry 'on its head' and said those who resist it are generally charging high fees that they don't want revealed. A Blackstone Inc. fund further cut the value of a private credit loan for Thoma Bravo-backed software company Medallia Inc., revealing growing stress for its single largest investment. The White House fired five of the seven board members of the federal watchdog that oversees Puerto Rico's finances, inserting itself in the island's high-stakes debt and contract negotiations. Carlyle Group Inc. pulled off a string of exits in the second quarter, selling $3.7 billion of investments from traditional private equity-style funds — a 12-fold increase from the same period a year earlier. Its buyout rivals have recently struggled to sell out of bets profitably. Apollo Global Management Inc. is increasing a landmark loan it made to SoftBank Group to $5.4 billion, a new record for a booming type of debt that's becoming a must have for private capital funds and their backers. JPMorgan Chase is making preliminary inquiries with investors to gauge appetite for a significant risk transfer tied to a portfolio of loans used to purchase artwork. On the Move KKR has hired Ken Murata as a managing director for its credit business in Japan as the country becomes a key market for the private credit boom in Asia. Murata joined from Goldman Sachs, where he was managing director and head of Strategic Solutions and Financing Group in its investment banking division. He will start in September. Citigroup is hiring Aashish Dhakad from Ares Management to become head of private credit origination for North America. He will lead the lender's effort to source debt deals beyond the scope of its existing tie-up with Apollo Global Management. Blackstone hired Goldman Sachs's Mao Ito, its first hire to focus on private credit origination in Japan, joining rivals including KKR to tap a fast-growing market for the global $1.7 trillion industry. HSBC appointed Jake Hartmann as managing director and head of its US debt capital markets desk for financial institutions. He joins from Barclays, where he held a similar role focusing on US regional banks and insurance. Annika Kim is joining the Texas Municipal Retirement System as the fund's new credit director. The former private equity employee at Apollo Global Management is one of a number of new hires at TMRS. Ares Management alumnus Scott Graves has added two partners at Lane42, his new alternative investment firm. David Farber is coming in from Banco Santander, where he was head of leveraged finance. Victoria Aparece, a former managing director at Centerbridge Partners, will also join the upstart shop. Monroe Capital hired Todd Davis as director for loan originations. Davis previously worked at Antares Capital. --With assistance from Dan Wilchins. The Pizza Oven Startup With a Plan to Own Every Piece of the Pie Digital Nomads Are Transforming Medellín's Housing Russia's Secret War and the Plot to Kill a German CEO It's Only a Matter of Time Until Americans Pay for Trump's Tariffs The Game Starts at 8. The Robbery Starts at 8:01 ©2025 Bloomberg L.P. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
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8 Key Signs You Should Switch Financial Advisors in Current Economic Landscape
The economy that you're earning and investing in can change radically from decade to decade, and even year to year. So, you want to be sure your financial advisor is keeping up with the times. Of course, if their advice never changes, their suggestions are sketchy or something's missing from the relationship, it's in your best financial interest to change. Explore More: Read Next: Here are eight key signs to consider switching financial advisors in this current economic landscape, which is shaped by market volatility, persistent inflation and increased concerns about the viability of Social Security. Poor Communication A critical red flag indicating it may be time to switch financial advisors is poor communication, according to Richard McWhorter, Managing Partner and Private Wealth Advisor from SRM Private Wealth. 'Trying to track down the person who is managing your financial portfolio should not be a game of cat and mouse,' he said. Make sure you find an advisor that you can communicate with regularly, especially at the beginning of the relationship. McWhorter recommended vetting between three and four advisors before settling on one. I'm a Financial Advisor: Swings Too Big Whether working with a new advisor or one you've been acquainted with for a while, be cautious, listen, and do your own research, McWhorter advised. Don't go into the relationship trusting everything that is said. Be discerning. 'Do not hire an advisor that is always swinging for the fences or tells you about how they are consistently outpacing the markets,' he said. 'These types of advisors […] strike out many more times than they get a home run, in my experience.' Not Evolving With the Times When it comes to your financial future, especially in today's volatile market, you need an advisor who evolves with the times. 'If they don't, it may be a red flag,' according to Melissa Murphy Pavone, a CFP and owner of Mindful Financial Partners. Be concerned if an advisor is ignoring recent legislation and policy changes. 'From the One Big Beautiful Bill Act (OBBBA) to the impact of tariffs, your advisor should be proactively adjusting your plan, not waiting for you to ask,' she said. No Stress Testing Another worrisome sign is if your advisor is not stress-testing your retirement plan, Murphy Pavone said. 'With persistent inflation and Social Security uncertainty, your advisor should run multiple scenarios so you know your plan is built to last.' Ignoring Tax Strategy Any advisor who is not thoughtfully crafting a tax-advantaged strategy for you is not doing you any favors, Murphy Pavone said. 'In this environment, tax-efficient planning is essential. If they're not helping you maximize after-tax returns or plan for upcoming tax law changes, you're missing opportunities.' Not Tailoring Guidance Additionally, financial advice is not one-size-fits-all. If they fail to offer tailored guidance, it's a problem. 'Your advisor should understand your personal goals, risk tolerance and life stage — not just manage a portfolio,' Murphy Pavone said. Additionally, a good financial advisor should be doing more than focusing only on your investments, Murphy Pavone said. She urged 'holistic guidance from a certified financial professional,' which means your financial advisor should be trained to integrate investments, tax strategy, retirement planning and even healthcare costs. 'Because health is wealth, and your financial plan should reflect that.' If your advisor is still giving you the same advice they gave your dad 20 years ago, it's time for an upgrade, she said. Claim To Be Market Gurus Be especially wary of advisors who position themselves as market 'gurus' or claim to know what's coming next, suggested Sean Babin, a CFA, founder and CEO at Babin Wealth Management. 'No one can predict the future, and basing your financial plan on guesswork isn't planning — it's gambling,' he explained. 'Constantly adjusting your investments based on someone's crystal ball can also do more harm than good.' Don't Understand Your Goals Lastly, a good advisor should not give you generic advice, but should understand your goals and make an effort to communicate with you. 'If your current advisor has gone silent or made you feel like just another number, it may be time to move on,' Babin cautioned. At his company, Babin said they often hear from new clients that they hadn't heard from their previous advisor in months or even years. 'That's not a relationship; that's a red flag,' he said. More From GOBankingRates 5 Old Navy Items Retirees Need To Buy Ahead of Fall 5 Types of Cars Retirees Should Stay Away From Buying This article originally appeared on 8 Key Signs You Should Switch Financial Advisors in Current Economic Landscape
