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Data: FactSet; Chart: Axios Visuals

In mid-August the yield on WeWork's 2025 junk bond was 6.8%, and this week it hit 16.1%.

The state of play: WeWork's IPO was pulled at the end of September, depriving the company of billions of dollars in IPO proceeds as well as even more liquidity in the form of an attached loan commitment. That news drove the yield on WeWork's bonds up to 11.6%.

  • Since then, WeWork has revealed a stunning $1.25 billion quarterly loss; it is also now embroiled in an SEC investigation, as well as legal fights with disgruntled shareholders.

By the numbers: The bond traded this week at a price of $709, to yield 16.1%. It has 11 coupon payments left of $39.37 each, which means that if you hold it to maturity — and if it doesn't default — then you'll receive a total of $1,433.125 in principal and interest payments by the time the bond matures in May 2025. That's more than double the current price.

The bottom line: Before the IPO was pulled, WeWork had multiple funding sources, both in debt and equity. Now, however, Softbank seems to be the only institution willing to invest. If the Japanese tech giant ever tires of throwing good money after bad, then the chances of the 2025 bonds getting repaid in full look slim indeed.

Go deeper: WeWork to lay off 2,400 employees

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Peacekeepers with Lebanese troops in southern Lebanon. Photo: Jalaa Marey/AFP via Getty

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Why it matters: The U.S. is the main funder of the UN Interim Force in Lebanon (UNIFIL), which has an annual budget of $250 million. The veto threat is a tactical move, and part of a broader effort to put pressure on Iran and its proxy in Lebanon, Hezbollah.

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Coronavirus dashboard

Illustration: Annelise Capossela/Axios

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Trump congratulates QAnon conspiracy theorist on GOP runoff win

Photo: Brendan Smialowski/AFP via Getty Images

President Trump on Wednesday tweeted congratulations to Marjorie Taylor Greene, a vocal QAnon conspiracy theorist who won the Republican nomination in Georgia's deep-red 14th Congressional District runoff.

Why it matters: The president's approval illustrates how the once-fringe conspiracy theory has gained ground within the GOP. Greene is among the at least 11 GOP candidates for Congress who have openly supported or defended the QAnon movement or some of its tenets, per Axios' Jacob Knutson.