A Macy's in Boston on May 31. Photo: Pat Greenhouse/The Boston Globe via Getty Images

Macy’s secured around $4.5 billion in financing, including $3.15 billion pledged against its real estate assets.

Why it matters: This should remove the iconic retailer from bankruptcy watch lists, even if 2020 holiday sales are sluggish.

The big picture: Investor's reactions were not so great, after weeks of growth. Macy's did release preliminary fiscal Q1 numbers that met consensus estimates on the top line and beat them on the bottom line, but now it's more leveraged and warned that sales might not normalize until 2022.

The bottom line: "The retailer, which temporarily shut all its stores in response to local lockdown orders aimed at curbing the spread of the novel coronavirus, was struggling even before the beginning of the pandemic amid changing shopping habits." — Nina Trentmann, WSJ

Go deeper: April retail sales drop record 16.4% amid coronavirus pandemic

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Bill Clinton slams McConnell and Trump: "Their first value is power"

Former President Bill Clinton on Sunday called Senate Majority Leader Mitch McConnell's (R-Ky.) vow to fill Ruth Bader Ginsburg's vacant Supreme Court seat before the next presidential inauguration "superficially hypocritical."

The big picture: Clinton, who nominated Ginsburg to the court in 1993, declined to say whether he thinks Democrats should respond by adding more justices if they take back the Senate and the White House in November. Instead, he called on Republicans to "remember the example Abraham Lincoln set" by not confirming a justice in an election year.

Pelosi: Trump wants to "crush" ACA with Ginsburg replacement

House Speaker Nancy Pelosi said on ABC's "This Week" on Sunday that President Trump is rushing to replace the late Supreme Court Justice Ruth Bader Ginsburg because he "wants to crush the Affordable Care Act."

Why it matters: Pelosi wants to steer the conversation around the potential Ginsburg replacement to health care, which polls show is a top issue for voters, especially amid the coronavirus pandemic. The Trump administration has urged the courts to strike down the law, and with it, protections for millions with pre-existing conditions.

Mike Allen, author of AM
Updated 2 hours ago - Politics & Policy

Democrats' Armageddon option

A makeshift memorial outside the Supreme Court yesterday. Photo: Jose Luis Magana/AFP via Getty Images

Furious Democrats are considering total war — profound changes to two branches of government, and even adding stars to the flag — if Republicans jam through a Supreme Court nominee then lose control of the Senate.

On the table: Adding Supreme Court justices ... eliminating the Senate's 60-vote threshold to end filibusters ... and statehood for D.C. and Puerto Rico. "If he holds a vote in 2020, we pack the court in 2021," Rep. Joe Kennedy III (D-Mass.) tweeted.