Fixed Income Update 12 Jun 2025
KBVS WEEKLY FIXED INCOME UPDATE
Thursday, 12 June 2025
Elon VS Trump
Elon Musk is criticizing a major tax and spending bill supported by Donald Trump, warning it could add up to $2.5 trillion to the U.S. debt and burden taxpayers. He called it a “disgusting abomination” and urged Americans to oppose it. The bill includes big tax cuts, more military spending, and mass deportation funding. It also raises the debt ceiling to $4 trillion. It passed the House and is now in the Senate. Musk, who recently left a government cost-cutting role, said he may work to unseat lawmakers who back the bill. The White House defends the bill, calling it good for the economy.
In the domestic market, the Indonesian government has cancelled four out of five nickel mining permits in Raja Ampat, a group of islands known for having some of the richest marine life in the world. This decision came after public protests about the damage mining was doing to the environment. The government said the mining companies were causing pollution, harming coral reefs, and cutting down forests. The cancelled permits were for mines on islands that are part of a UNESCO-recognized geopark, known for their rare wildlife and very old rock formations—some as old as 400 million years.
Regards,
KBVS Research Team