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Stocks Edge Up as ‘Big-to-Small’ Rotation Pauses: Markets Wrap

Stocks rose ahead of major central bank decisions, key economic data and earnings from four megacaps worth nearly $10 trillion.

By Matthew Burgess

Venezuela’s Election Threatens to Extend Bond-Market Exile

The political turmoil unleashed by Venezuela’s presidential election is threatening to extend the nation’s economic isolation and derail any moves toward restructuring its debt.

US IPO Market to Slow After Lineage, With Quiet Summer Ahead

The pricing of Lineage Inc.’s $4.4 billion first-time share sale helped make last week into the busiest for US initial public offerings in two and a half years. That excitement will be short-lived, according to bankers, who predict the rest of the summer will be more subdued.

US Cuts Borrowing Estimate, Sees Smaller Year-End Cash Pile

The US Treasury reduced its estimate for federal borrowing for the current quarter and projected the government’s cash buffer to decline toward year-end, just ahead of a possible fresh fight over the debt limit.

Matt Levine’s Money Stuff: Due Diligence Can Be Risky

Also Andrew Left, sanctioned invoices, Bill Ackman and Rich Handler.

Miami Plans to Borrow $243 Million for Troubled Office Building

Miami has become so pricey for renters that even the county wants to become its own landlord. It’s selling $234 million of municipal debt to do just that.

Khosla, Nextdoor SPAC Backers Hit With Lawsuit on Public Listing

Vinod Khosla and other architects of Nextdoor Holdings Inc.'s blank-check merger duped investors into a doomed deal that gave insiders a windfall, according to a lawsuit challenging the transaction.

Ocado Plans to Borrow From Bond Market for First Time Since 2021

Ocado Group Plc is looking to sell its first bonds in nearly three years, a couple of weeks after the provider of robotic warehouses reported that it had narrowed its losses.

Centerbridge Is Said to Explore £3 Billion Canopius Exit

A consortium led by private equity firm Centerbridge Partners is exploring exit options including an initial public offering of Canopius Group in a deal that could value the Lloyd’s of London insurer at about £3 billion ($3.9 billion), according to people familiar with the matter.