EchoStar Restructures to Protect Assets; Portillo's CEO Dismisses Stock Drop Concerns; Improving Economic Sentiment Offsets Boeing Cash Burn
• EchoStar restructures assets to shield future cash from creditors, sending Dish Network bonds collapsing. EchoStar surges 36%.
• Treasury 10-year bond auction sees yields rise slightly, signaling weak demand. Big test comes Thursday with 30-year bond auction.
• Portillo’s CEO says restaurant stock selloff over new weight loss drugs is “nonsense” and fast food price hikes have hurt perception.
• Oxford Economics report shows improving consumer and business sentiment globally, signaling potential for soft landing.
• Tilray CEO believes it can quickly enter U.S. medical cannabis if Biden administration reclassifies it; Boeing burned through most 737 MAX customer concessions.