Turkey Liquidated Almost All US Treasury Holdings in March
Turkey offloaded almost all of its US Treasuries in March as it stepped up efforts to defend the lira amid intense economic pressure from soaring energy costs. The amount of Treasuries held by Turkey fell to $1.8 billion by the end of March, down from $16 billion the...
Nvidia Tells Skeptical Investors AI Is Ready to Go Mainstream
Nvidia Corp., facing more investor skepticism, used its latest quarterly report to tout progress in diversifying the company, which aims to rely less on the giant data center operators that have fueled its runaway growth. Though spending has continued to surge from...
Repeat After Me, Stocks Are Not an Effective Inflation Hedge
Surveys indicate that investors are piling into stocks even as they see rising inflation. That’s likely to backfire as equities aren’t the hedge against price growth they are often taken to be. It’s time to pay much more attention to real quantities again. Inflation...
SpaceX IPO Requires Leap of Faith in AI, Mars and Musk’s Vision
Elon Musk’s SpaceX pulled back the curtain on a business empire that has racked up ballooning losses and debt after acquiring a cash-hungry startup, and pumping billions of dollars into futuristic endeavors ranging from AI to a Mars rocket. The prospectus that...
Bridging Finance Founder David Sharpe Seeks New Appeal in Fraud Case
The former chief executive officer of private credit shop Bridging Finance Inc. will ask Ontario’s highest court to review a fresh ruling that upheld fraud findings against him. David Sharpe “intends to seek leave to appeal to the Ontario Court of Appeal,” lawyer...
Bitcoin Grows More Dependent on Saylor’s Buying Machine
For most of its history, Bitcoin’s price was driven by a sprawling cast of buyers: idealists, speculators, early adopters, and, more recently, institutional investors looking for a new portfolio hedge. Demand was fragmented and hard to predict. In 2026, it is neither....
Surf Air, SpaceX, xAI Staffers Line Up SPAC for Space Assets
A group of aviation and telecommunication experts, including former staffers from Surf Air Mobility, xAI, and SpaceX, are forming a blank check company that will seek to take a space company public, as Wall Street chases the industry. Futurecorp Space Acquisition 1 is...
PepsiCo to Raise Prices on Small Chip Bags Over Higher US Costs
PepsiCo Inc. is preparing to raise prices on some of its smaller bags of chips, according to people familiar with the matter, even after reining in the cost of its larger packages in response to consumer pushback. In the coming weeks, the soda and snacks maker plans...
UBS Chief Strategist Sees US Consumer Slowdown Threatening Stock Rally
The US consumer will slow down as real disposable income growth nears zero and fiscal support fades, threatening equity markets despite strong first-quarter earnings driven by artificial intelligence, according to Bhanu Baweja, chief strategist at UBS Group AG....
Big Treasury Block Sales Drive ‘Capitulation’ Selloff in Bonds
A series of large sales in US Treasury futures exacerbated a selloff in the $31 trillion government debt market, as concern about resurgent inflation pushed investors to price in higher interest rates. As long-end yields soared to their highest level since 2007 on...
Magellan Says Barrenjoey Deal Lifts Private Markets Opportunity
Magellan Financial Group Ltd.’s chief executive said its merger with Barrenjoey Capital Partners will allow the Australian firm to provide its customers with more offerings in private markets. The deal is on track to close around the middle of this year and...
Vanguard Favors Treasuries as 10-Year Yields Near Range Top
Vanguard Group Inc., one of the world’s largest money managers, is sticking with its bet on US Treasuries, saying yields in the $31 trillion market are near the top of its expected range for 10-year notes. “In US rates, we maintain a long duration bias with yields...
Citadel Securities’ Rubner Sees Risk of Flow Unwind in US Stocks
Risks are growing of an unwind in the powerful fund flows that drove US stocks to record highs in recent weeks, according to Citadel Securities’ Scott Rubner. The S&P 500 Index has surged about 16% from its March low, supported by robust earnings, corporate...
Texas Fund Revealed as Record Backer of State Street Credit ETF
The identity of an investor that dramatically boosted assets in State Street Corp.’s private credit ETF has been revealed as a $60 billion sovereign wealth fund that provides funding to Texas public schools. The Texas Permanent School Fund bought more than 29 million...
