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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Biden's doctrine: Erase Trump, re-embrace the world

Photo illustration: Sarah Grillo/Axios. Photo: Bastiaan Slabbers/NurPhoto, and Bastiaan Slabbers/NurPhoto via Getty Images

Foreign policy will look drastically different if Joe Biden defeats President Trump in November, advisers tell Axios — starting with a Day One announcement that the U.S. is re-entering the Paris Climate Agreement and new global coordination of the coronavirus response.

The big picture: If Trump's presidency started the "America First" era of withdrawal from global alliances, Biden's team says his presidency would be the opposite: a re-engagement with the world and an effort to rebuild those alliances — fast.

Robert Mueller speaks out on Roger Stone commutation

Former Special Counsel Robert Mueller testifies before the House Permanent Select Committee on Intelligence on Capitol Hill on Wednesday July 24, 2019. Photo: The Washington Post / Contributor

Former special counsel Robert Mueller responded to claims from President Trump and his allies that Roger Stone was a "victim" in the Justice Department's investigation into Russian interference in the 2016 election, writing in a Washington Post op-ed published Saturday: "He remains a convicted felon, and rightly so."

Why it matters: The rare public comments by Mueller come on the heels of President Trump's move to commute the sentence of his longtime associate, who was sentenced in February to 40 months in prison for crimes stemming from the Russia investigation. The controversial decision brought an abrupt end to the possibility of Stone spending time behind bars.

Trump dons face mask during Walter Reed visit

Trump wearing a face mask in Walter Reed National Military Medical Center on July 11. Photo: Alex Edelman/AFP via Getty Images

President Trump wore a face mask during his Saturday visit to Walter Reed National Military Medical Center, according to AP.

Why it matters: This is the first known occasion the president has appeared publicly with a facial covering as recommended by health officials since the coronavirus pandemic began, AP writes.