Fixed Income

• Venezuela Creditor Bloc Grows to $22 Billion as Debt Talks Eyed
  Venezuela’s creditor group has been expanding and now accounts for nearly 40% of all the debt outstanding, putting it in a stronger position as fresh optimism builds that the nation’s long-delayed restructuring is high on the agenda in Washington and Caracas.
• Liberty Meetings Draw Crowd in London as Virgin Media Bonds Sink
  Liberty Global Ltd. drew a crowd on Thursday at a Morgan Stanley leveraged-finance conference in London as investors peppered executives about the cratering debt of its telecommunications joint venture.
• Verizon, AT&T Bonds Weaken on SpaceX’s Wireless-Service Plans
  Bonds issued by Verizon Communications Inc. and AT&T Inc. weakened on Friday, following SpaceX’s announcement that it will buy US spectrum that will help the company become a “major mobile carrier” in the US.
• Hungary Needs Significant Deficit Cut For Euro Path, Magyar Says
  Hungary needs to significantly narrow its budget deficit to make debt financing sustainable and to put the country on a path toward adopting the euro, Prime Minister Peter Magyar said.
• France’s Bond Risk Is Outpacing Italy’s by Most in Euro History
  Bond investors are demanding the most compensation to own French bonds over Italian ones since the founding of the euro.
• Ex-Deutsche Trader Bittar Has Rate-Fixing Conviction Quashed
  Former Deutsche Bank AG trader Christian Bittar has had his conviction over fixing benchmark interest rates quashed, despite pleading guilty more than eight years ago.
• 'Black Box' Revenue From Anthropic and OpenAI Stumps Traders
  When measuring the race between artificial intelligence leaders OpenAI and Anthropic PBC, investors have run into a problem: The two private companies calculate a closely watched revenue figure differently.
• Vance Balks at Hegseth’s Plan to Livestream Killer’s Execution
  Vice President JD Vance said he wouldn’t watch if the Pentagon goes ahead with plans to livestream the execution of a former Army major who killed 13 people in 2009, adding to a chorus of criticism over Defense Secretary Pete Hegseth’s idea.