Beware the toxic debt hangover, a nasty side effect of years of the aggressive stimulus policies governments and central banks around the world have engaged in to ramp up their economies.  Trillions of dollars of bad loans, you see, are coming home to roost – NYTimes

What a difference 6 weeks can make (especially when those weeks are marked by a precipitous drop in the markets), as investors have done a 180 on their expectations for further Fed rate hikes this year – WSJ

Let’s put a finer point on that Yahoo story from yesterday. “Considering all options” is probably code for “putting itself up for sale,” just in case we weren’t reading between the lines properly – NYTimes

Big-time CEO news today, with Sumner Redstone stepping down as executive chair of CBS and Delta CEO Richard Anderson ceding his pilot’s seat to current Delta president Ed Bastian – WSJ

The CFPB is pushing the 25 biggest banks to improve baking access “for the unbanked and those who do not have sufficient access to banking services, known as the underbanked” in a recent letter that aims to persuade more than dictate, in part due to the limits of CFPB rulemaking – Law360

Some info on the “Frankenfinancing” it’s going to take for ChemChina to pull off the near-$44 billion Syngenta deal – NYTimes

Also, in the merger arena, Foxconn’s looking to finalize its Sharp takeover bid – WSJ

Wells Fargo has agreed to cough up $1.2 billion to settle allegations that it “engaged in reckless lending under a Federal Housing Administration program that left a government insurance fund to clean up the mess.”  The deal puts to rest 4 years of litigation and negotiation and drops its 2015 net income by $134 million – NYTimes and WSJ and Law360

Three foreign banks are looking to escape the SDNY-based Forex antitrust suit by invoking the Daimler lack-of-personal-jurisdiction defense. The 2014 high court Daimler decision severely limited the places where corporations could be sued under a general jurisdiction theory, limiting it to their place of incorporation and their principal place of business – Law360

“Rambling, folksy, [featuring a] sometimes uncomfortable anecdote . . . [and] usually some shade thrown at central bankers . . . .” That’s right, kids, it’s Big Billy Gross investment letter time – WSJ

Gotta love this piece on the Explorers Club and their [fraudulent?] wooly mammoth and giant sloth dinner from 1951, especially because of its parallels to the criminally underrated 1990 film The Freshman and its Gourmet Club – NYTimes