How often are we going to be hearing about Brexit aftershocks?  I’d expect you better get used to it.  Today’s edition: two other real estate funds (these run by Aviva ad M&G) have joined Standard Life in freezing withdrawals [and the pound’s looking pretty shaky, too] – NYTimes and WSJ

For their part, 10-year US Treasury yields dove to new lows, closing below 1.4% for the first time ever as worried investors continue to seek a safe place to park their money – WSJ

While we’re talking yields, let’s bring in the wonderful news from Deutsche Bank’s analysts, who are reading the yield curve (typically measuring the level of long-term rates relative to short-term rates) as suggesting a 60% chance of US recession in the next 12 months – WSJ

A recent spate of victories has delayed the many challenges to the SEC’s in-house court system.  White Collar Watch looks at where this dispute is headed next – NYTimes

The City of Miami and the SEC are locked in a nasty little dispute over an alleged $38 million in wrongful transfers the city made in order to get favorable bond offerings – Law360

More on the charitable trust behind Hershey and its ongoing battle with the Pennsylvania AG’s office—all of which will be in play if Mondelez betters its $23 billion offer to take over the famed chocolate maker – NYTimes and WSJ

The Fed’s June meeting minutes are out today. Some things to watch for  – WSJ

Just three years after its maker (Hostess) was liquidated, the indestructible Twinkie is back and riding higher than ever on news that the PE firm Gores Group is backing a group that will acquire a majority stake in Hostess Brands as part of a $725 million deal that will bring its total debt burden to nearly 4.5 x Ebitda.  Sugar high, indeed – NYTimes and WSJ and Bloomberg

MasterCard’s in line to become the guinea pig defendant in one of the first-ever (and largest) consumer collective actions filed under the UK’s new class action regime, with plaintiffs seeking $24.7 billion in damages over alleged anti-competitive interchange fees – Law360 and Bloomberg

It’s the end of an era (and keypads) for BlackBerry, which bid so long to its Classic model today—a product undone as much by its security flaws and refusal to adapt to an app-driven world as it was by the iPhone – Huffington Post and NYTimes

The transformative power of landscape architecture, now on display at Governor’s Island – NYTimes