Over the past year bonds hit hard by COVID-19 have rallied and rewarded investors who took a gamble. One prime example is cruise company Carnival Corporation (NYSE:CCL) which pawned ships to borrow around $4 billion from investors asking an 11.5% interest rate. Interestingly, the yield on the binds has dropped below 4% as bonds increase
Investing
The market has been in correction mode since topping record highs in February. A 5% plus pullback in recent weeks has aroused concerns given the sell-offs that have come into play. Amid the sell-off, fundamentals have continued to improve, affirming that the recent pullback might be a minor correction pending further upside action. Market Bounce
Thousands of amateur investors learned a painful lesson last week that stocks don’t always rally after an IPO. The investors increasingly see their fortunes Deliveroo dissipate as the newly listed food delivery app stock continues to edge lower. Deliveroo IPO Deliveroo was expected to be a runaway success as it went public as a darling
In the last three months, companies issued $140 billion in the junk bond market in the US, surpassing the record rush for cash in Q2 2020 when groups rushed to fortify their finances to survive the impacts of the COVID-19 pandemic. Investors taking advantage of low rates to invest in high yield bonds According to
Although Tesla Inc. (NASDAQ:TSLA) has benefited from the first-mover advantage in the electric cars market, with an increase in EV demand comes competition. One of Tesla’s competitors that deserves a mention is Lucid Motors, which is currently preparing to go public through a SPAC merger with Churchill Capital IV (NYSE:CCIV). Investors could benefit from Lucid
Robinhood is creating a platform to “democratize” initial public offerings (IPOs), including its upcoming IPO. According to people familiar with the matter, the platform will allow users on the trading app to buy into IPOs alongside Wall Street funds. Robinhood curving shares in its IPO for its users Interestingly, this is a move that could
The US real estate sector is heating up amid accelerated economic recovery fuelled by an aggressive vaccination campaign. Strong demand for new homes at the back of declining inventories point to a market-ready to take off. Likewise, deals and activities in the sector are increasingly edging higher to the extent of Compass Inc. plotting a
On Monday, global equities inched higher, with safe-haven assets such as US Treasuries rallying as investors weighed the increasing COVID-19 cases in Europe against the break in the recent bond yields run-up sparked by global inflation fears. Replacement of Turkish Central bank governor unsettles equity markets It was an unsettled day for equity markets, with
Microsoft Corp (NASDAQ:MSFT) has said that it will reopen its Seattle and Redmond, Washington headquarters and nearby campuses later this month. The company will allow employees in the areas to choose between returning to offices, working remotely, or working in a hybrid model. Microsoft is allowing employees in Redmond and Seattle back to offices The
Chubb Ltd (NYSE:CB), the largest and most popular property-casualty insurers in the US, has announced plans to acquire Hartford Financial Services Group Inc. (NYSE:HIG). Following the proposed takeover news, Hartford shares surged over 18% and were temporarily halted for volatility. Chubb to acquire Hartford Hartford confirmed receipt of an unsolicited, non-binding takeover bid from Chubb.
Bitcoin acceptance by mainstream institutions continues to gather momentum as Morgan Stanley became the first banking institution to accept digital currency as an emerging asset class. The move by the financial institution positions it in a tight spot with other banking institutions expected to follow. Morgan Stanley to launch three crypto funds In a statement,
The US SEC moved to strike Ripple’s defenses following its suit in December, accusing the blockchain giant and its executives of selling unregistered securities. However, Ripple has responded to the motion to strike its pivotal “fair notice” defenses, labeling it as “meritless.” Ripple says SEC’s motion to strike is meritless In a letter to Federal
After a sell-off last week that pushed borrowing costs higher, US bonds have steadied as European markets ticked up. Investors are now looking forward to the important Federal Reserve meeting expected later this week. Federal meeting to define where yield will trade Interestingly, the benchmark ten-year Treasury yield, which is moving in the opposite direction
Transaction volume in the South Korean cryptocurrency markets exceeded the stock market’s daily average transaction volume, as BTC rose to a new all-time high of $61,000. Crypto market volume surges on BTC price rise to $61,000 CoinMarketCap data showed that the combined 24-hour volume to top south Korea-based digital currency exchanges Bithumb, UPbit, Korbit, and
In recent weeks global equity markets have wobbled as bond yields increases driven by consumption spending resumption and optimism of the COVID-19 vaccination rollout. With the business cycle improving, JPMorgan bank is expecting cyclical stocks to lead the market higher in the near- and long-term. Investors considering cyclical stocks currently The bank’s Asia ex-Japan equity
A week ago, Bitcoin bears and bulls were in a tug of war at a price level of $50,000, but now market players are aiming to retests a historic high. Bitcoin dipped as low as $53,500, but buyers re-entered the market and pushed it to $57,000, and there is a good chance that BTC could
Recently India indicated that it will ban crypto in the country, but that could change following Finance Minister Nirmala Sitharaman’s comments that the government is considering a calibrated approach towards crypto regulation. Crypto players represented by the Internet and Mobile Association of India (IAMAI) have welcomed the Minister’s comments. IAMAI says the crypto sector employs
On Monday, US markets and stock ETFs diverged as economically sensitive sectors left the once high-flying tech stocks in the dust. SPDR Dow Jones Industrial Average ETF (NYSEAMERICAN:DIA) was up 2%, Invesco QQQ Trust (NASDAQ:QQQ) dropped 1%, while iShares Core S&P 500 ETF (NYSEAMERICAN:IVV) jumped 0.9%. High-growth tech stocks pull back amid inflation fears The
There have been growing concerns gripping markets as Treasury yields keep rising, but, for US companies, it is clear that the right time to borrow is now. This comes as inflation fears continue to increase despite the economy seemingly stabilizing. Companies fear they might miss on borrowing window The rise in long-end rates to the
The aircraft leasing segment is on the verge of the biggest shakeup in over a decade as the industry’s two top players General Electric Co.’s (NYSE:GE) GE Capital Aviation Services (GECAS), and AerCap consider a business combination deal. GECAS and Aercap to combine in a $30 billion deal According to sources familiar with the matter,
Apollo Global Management Inc.–owned Shutterfly Inc. is in discussions to go public via a merger with a Special-purpose acquisition company (SPAC), according to sources familiar with the matter. The move comes two years after Apollo took the Redwood City-based online photo products company private. Shutterfly plans to go public through SPAC Shutterfly joins a list
On Thursday, Bitcoin maintained gains above $50,000 putting the digital currency on track following steep losses witnessed last week. The largest cryptocurrency is returning to the bullish momentum it has witnessed in recent weeks as mainstream interest continues to grow. Bitcoin on the path to recovery after last week’s losses BTC rose as much as
Although active managers might have been busy polishing their environmental, social, and government (ESG) credentials in the past year, investing in the space is not a stock picker’s preserve. It is important to note that passive funds play a vital role in the ESG space, with most of them have considerable following ranging from iShares
It has been a tough week for US treasury bonds after a gentle decrease in prices became a rush. With government bond yields dropping to low levels, investor returns for insurers and pension funds have been wiped out. Inflation worries pushing bond yields down Growing inflation concerns have been pushing Treasuries down for almost a
Anglo-Swedish drugmaker AstraZeneca (NASDAQ:AZN) has sold its entire 7.7% equity stake in COVID-19 vaccine producer Moderna Inc. (NASDAQ:MRNA) for over $1 billion. The company sold the entire stake over the course of 2020, cashing in the meteoric rise of the US biotechnology firm’s shares following its success in the production of a COVID-19 vaccine candidate.
AT&T Inc. (NYSE:T) has agreed to sell a minority stake of its video business to equity firm TPG to carve out the struggling unit and pull the telecom company from an expensive wager on entertainment. AT&T sells 30% stake in DirecTV business The deal will move AT&T TV and DirecTV services in the US to
ByteDance Ltd agreed to settle a class-action suit by paying $92 million over allegations that its video-sharing app, TikTok illegally harvested personal user data. According to the lawsuits, the app is said to have collected users’ data without consent and shared the information with china-based third parties. Tiktok to settle a class-action suit in the
The market managed to make a slight improvement to close out the week, though it’s still looking a bit rough overall. The Dow Jones closed down 1.50% at 30,932.37. The NASDAQ managed to hit a positive note, closing up 0.56% at 13,192.34. The S&P 500 closed down 0.48% to finish at 3,811.15. STOXX Europe also
Part of the stock market recovery from pandemic lows is coming from the individuals in the market. These individual traders are younger than the average investor, more aggressive than long-held firms, and are set to place bets on equities from any excess funds they may have, like new stimulus checks. Strategists Parag Thatte, Srineel Jalagani,
Today marked a bad day for the New York Stock Exchange, with all three major markets posting significant drops. The Dow Jones closed down 1.75% at 31,402.01. The NASDAQ closed down 3.52% at 13,119.43 and the S&P 500 closed down 2.45% at 3,829.34. STOXX Europe also had a bad day, though not by as much,
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