Citi Says Japan Has Yen Defense Tools Beyond Treasury Sales
Japan has alternative tools to defend the yen without liquidating its more than $1.1 trillion US Treasury portfolio, according to Citigroup Inc. Authorities can draw on the Federal Reserve’s Foreign and International Monetary Authorities Repo Facility, Citi...
Treasuries Climb to Start Week on Oil, Bessent’s Yen Pledge
Treasuries are starting the week on an optimistic note, buoyed by tumbling oil prices and assurances that tens of billions of dollars in Japanese currency interventions won’t be funded from sales of US government debt. The rise on Monday pushed the yields on 10-year...
Robinhood Private Company Fund to Back Y Combinator Startups
Robinhood Markets Inc. kicked off formal marketing of its second publicly traded closed-end fund, which will focus on investing in private companies that have participated in startup accelerator Y Combinator’s programs. Robinhood Ventures Fund II is offering 7.6...
Japan’s Use of Fed Repo May Ease Pressure on Treasury Market
Treasury Secretary Scott Bessent’s championing of a Federal Reserve facility Japan can use to boost the yen comes with the benefit of protecting the US bond market from excess sales. The Foreign and International Monetary Authorities Repo Facility enables overseas...
Spacex, Now Secular Bear FODDER!
Spacex has become the source of the nourishment needed for a secular bear market’s life span to increase to 20 years from eight years. Based the statistics for all secular markets dating back to 1802, newest secular bear has begun or will soon begin. Spacex closed at...
Fitch’s Private Credit Default Rate Hit Record in Second Quarter
The default rate across 1,300 US private debt borrowers tracked by Fitch Ratings rose to a record high in the second quarter, according to a report released Thursday. The trailing 12-month private credit default rate in the US increased to 6% as of the end of the...
Dodgers and Lakers owner dragged into shocking $16B federal loan fraud investigation
An employee who raised red flags over suspicious revenue booking is behind what sparked a massive federal investigation into billionaire sports mogul Mark Walter. US prosecutors are probing the owner of the Los Angeles Lakers and Dodgers, after receiving information...
JPMorgan Sees S&P 500 Set to Rally as a Buy Signal Flashes
JPMorgan Chase & Co.’s analysts said an in-house indicator is “now flashing a buy-signal” — something that has typically indicated the S&P 500 Index is poised to gain. The bank’s global market intelligence team, lead by Andrew Tyler, said its so-called...
SK Hynix Slumps Below US IPO Price as Mega-Listings Turn Sour
SK Hynix Inc.’s American depositary receipts slumped to a new low after a record-setting $26.5 billion debut earlier this month as investors dump once-high flying semiconductor stocks. The South Korean memory chipmaker dropped as much as 10% to trade as low as...
Jersey Mike’s IPO Said to Be More Than 10 Times Oversubscribed
Jersey Mike’s Subs Inc.’s initial public offering has attracted investor demand for more than 10 times the available shares ahead of pricing on Wednesday, according to people familiar with the matter. The Blackstone Inc.-backed submarine sandwich chain and some of its...
Big Asia Stock Funds Turn to Laggards to Cut Risk From AI Swings
Investors in Asia are snapping up stocks from Indonesian banks to Chinese e-commerce titans and Indian technology firms, trimming bets on popular AI trades which have turned increasingly volatile. Fidelity International and BNP Paribas Asset Management are among those...
Blackstone Private Credit Fund Co-CEO Jonathan Bock Resigns
Jonathan Bock, co-chief executive officer of Blackstone Inc.’s flagship $78 billion private credit fund, is leaving the firm, according to a filing Friday. Bock, who joined three years ago, resigned on July 20, the firm said. Blackstone won’t replace his role, with...
Nasdaq 100 Tumbles as Oil Spike, AI Jitters Hit Tech Stocks
The Nasdaq 100 Index tumbled Friday, capping its first back-to-back weekly loss since late March as it was dragged down by the oil-price spike and a selloff in the tech stocks that once surged on the back of the AI investment boom. The technology-heavy gauge...
Euronext Mulls Setting Up a Private Market to Rival the UK’s
Euronext NV is considering creating a market for private securities, potentially ramping up competition with the London Stock Exchange Group Plc as bourses seek to offer investors access to fast-growing private companies. Euronext has held discussions with clients...