🏦 JPMorgan Chase DEI Director Fired Over Trash Bin Theft

JPMorgan Chase's director of diversity, equity, and inclusion lost her job after a video surfaced showing her stealing a public trash bin during a New York Knicks victory parade.

The footage shows 40-year-old Angie Baez dumping trash from a limited-edition blue and orange bin onto a Manhattan sidewalk before taking the container with her. Witnesses later spotted her on the subway carrying the stolen bin.

JPMorgan Chase quickly responded, conducting an internal investigation and confirming that Baez is no longer employed by the company.

✅@futures

⚡️ JUST IN: Iran proposes charging service fees for ships passing through the Strait of Hormuz, with revenue shared among Gulf countries.

Iran estimates these fees could generate around $40 billion annually.

✅@futures

❕ Morgan Stanley and Others Limit Withdrawals Amid Rising Redemptions

Morgan Stanley is restricting withdrawals from its $7 billion North Haven Private Income Fund after 11.6% of investors sought redemptions this quarter, up slightly from before.

The bank is fulfilling only about 43% of requests.

Apollo paused withdrawals from a large private credit fund after redemption requests hit $2.4 billion (16.8%), imposing a 5% quarterly cap.

Partners Group, with an $8.6 billion fund, limited withdrawals after requests surged to 9.8%, nearly double its limit. The Swiss firm’s shares fell 13% in Zurich.

Blackstone Mortgage Trust issued a $343 million loan tied to a June 9 default on a Chicago skyscraper. The 2018 loan included about $159 million in commercial mortgage-backed securities.

Redemption gates are often an early sign that stress is spreading through the financial system.

✔️ @venture