Here's what we are reading this morning:
May 2023 Financial Stability Report - Federal Reserve: This report presents the Federal Reserve Board’s current assessment of the stability of the U .S . financial system . By publishing this report, the Board intends to promote public understanding by increasing transparency around, and creating accountability for, the Federal Reserve’s views on this topic .
KKR-Backed Envision Healthcare Plans Chapter 11 Bankruptcy Filing - WSJ: The physician-staffing company was brought down by high labor costs, bruising battle with UnitedHealth.
Monitronics Enters Restructuring Pact, Plans for Chapter 11: Home security and alarm company Monitronics International Inc. plans to start Chapter 11 bankruptcy cases in coming days to help implement a restructuring, according to a statement.
Puerto Rico Utility Bankruptcy Risks Dismissal on Debt Plan: Puerto Rico’s bankrupt electric utility may not get another chance to craft a proposal to cut about $9 billion of debt, if the court overseeing its case fails to approve a restructuring plan that most bondholders have yet to accept.
Jane Street, Jump Slow Crypto Trading As US Regulators Crack Down - Bloomberg: Jane Street Group and Jump Crypto — two of the world’s top market-making firms — are pulling back from trading digital assets in the US as regulators crack down on the industry. Jane Street is going even further by scaling back its crypto ambitions globally because regulatory uncertainty has made it difficult for the firm to operate the business in a way that meets internal standards, according to a person familiar with the matter.