Hitler’s Brexit Shadow, Trump Ticket, Islamic Bonds: Sunday Wrap

  • Norway wealth fund, already upset by VW, to join class action
  • Obama jabs GOP front-runner: ‘Ignorance is not a virtue’

Adolf Hitler, a name long considered unthinkable as an analogy in political campaigns, surfaced in the U.K.’s Brexit debate when former London Mayor Boris Johnson likened the European Union to the Nazi dictator’s visions of conquest. Johnson’s allies backed him up and sought to muffle BOE’s Mark Carney, who has pushed for staying in the EU. Donald Trump chimed in from afar, too.

With Trump the presumptive Republican nominee, the natural next step is running-mate speculation, and Newt Gingrich mused aloud about his prospects on TV. Trump screener-in-chief Ben Carson discussed the process, while strategist Paul Manafort talked about the path to 270 electoral votes.

Deals advanced across the Middle East for more than $1 billion in Islamic bonds. Bahrain, fresh off a Moody’s downgrade, is making a $435 million private placement. Meanwhile, DP World and Emirates Islamic Bank PJSC were said to have lined up bankers for benchmark sales that typically run at least $500 million each.

Norway’s sovereign wealth fund voiced unhappiness with Volkswagen’s leadership in February, and escalated that dismay by saying it intends to join a class action lawsuit over the emissions scandal. The $850 billion fund holds about 1.6 percent of Volkswagen, according to data compiled by Bloomberg.

President Barack Obama used his Rutgers University commencement speech to poke at Donald Trump by implication, if not by name, with a lament about the dwindling value placed on “facts, evidence, reason, logic, an understanding of science.” Previewing his general election role as a campaign surrogate, Obama said: “Ignorance is not a virtue.”

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