Just hitting the wires
- We don’t predict asset bubbles well
- Have to be conscious about impact of zero rates
- FOMC focussed on unemployment rate
- CB’s shouldn’t react to markets
- Markets should be reacting to CB’s
Just hitting the wires
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KTOS jumps 9.4% on upgrade, targeting 30%+ CAGR. Still down YTD, but 5-yr returns are strong.
GSAT drops 6.8% on deal complexities; 5-yr return $3.7K/$1K, but high volatility persists.
Australia’s services PMI fell to 46.3 in March, signalling contraction for the first time in over two years. Demand weakened amid Middle East tensions while fuel costs drove inflation higher, highlighting a stagflationary backdrop.
BOOT jumps 9% on upgrade; valuation reset to 16x earnings offers attractive risk-reward.
Saudi defence ministry says it has intercepted and destroyed 7 ballistic missiles. Oil up. This is not looking like 'peace' Tuesday is it?
Broadcom inks AI chip deals with Google & Anthropic; shares jump 3%. Demand for custom chips fuels growth.
Blue Owl shares hit record lows as redemption requests surge, forcing limits on withdrawals and loan sales. The move highlights growing stress in private credit, with liquidity concerns and AI-related risks weighing on sentiment.
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