China said it will take necessary measures after the European Union added Chinese entities to its latest Russia sanctions package, warning that all consequences would be borne by the EU. Beijing said the EU’s move runs counter to the consensus reached by the two sides, according to a statement from the Ministry of Commerce on Saturday night. China argues the sanctions undermine political commitmen...
China said it will take necessary measures after the European Union added Chinese entities to its latest Russia sanctions package, warning that all consequences would be borne by the EU. Beijing said the EU’s move runs counter to the consensus reached by the two sides, according to a statement from the Ministry of Commerce on Saturday night. China argues the sanctions undermine political commitments that underpin China‑EU relations. “Despite China’s repeated representations and objections, the EU proceeded to include Chinese companies in its 20th round of sanctions against Russia,” the ministry said. China is strongly dissatisfied and firmly opposed to the move, it said. The EU a few days ago released details of its 20th sanctions package related to Russia, which includes new restrictions on a number of Chinese companies. The sanctions target third‑country suppliers of sensitive high‑tech equipment, with Brussels accusing several China‑based firms of providing dual‑use goods to Russia’s military‑industrial sector.
DKosig/iStock via Getty Images Welcome to another installment of our CEF Market Weekly Review, where we discuss closed-end fund [CEF] market activity from both the bottom-up - highlighting individual fund news and events - as well as the top-down - providing an overview of the broader market. We also try to provide some historical context as well as the relevant themes that look to be driving mark...
DKosig/iStock via Getty Images Welcome to another installment of our CEF Market Weekly Review, where we discuss closed-end fund [CEF] market activity from both the bottom-up - highlighting individual fund news and events - as well as the top-down - providing an overview of the broader market. We also try to provide some historical context as well as the relevant themes that look to be driving markets or that investors ought to be mindful of. This update covers the period through the third week of April. Be sure to check out our other weekly updates covering the business development company [BDC] as well as the preferreds/baby bond markets for perspectives across the broader income space. Market Action It was a strong week for BDCs as nearly all sectors continued rallying on expectations that the Iran conflict is coming to a close. MLPs was the only sector moving decisively lower on the week as oil prices fell. Systematic Income CEF discounts continued to tighten past their historic average level. Systematic Income Market Themes CEF coverage figures were updated through February in the usual place (CEF Tool, Coverage tab). The main theme here is the drop in short-term rates and the pass-through to both the asset and liability sides of CEF balance sheets. Municipal CEF NII has increased over the past six months and that of Loan CEFs has fallen, as we would expect given the trajectory of the Fed Funds rate. Systematic Income CEF Tool The market’s base case is for the Fed to remain on hold for the rest of the year. Chatham If that’s correct, then NII across the CEF space will stabilize, at least through 2026. Some loan CEFs have been reducing distributions to align with the drop in NII. Those funds that haven’t like VVR, FCT, FRA, BGT are more vulnerable in this respect. Muni CEFs hiked their distributions a couple of years ago, more in response to CEF activism rather than anything else, which means there is not a lot of room for them to hike distributions in response t...
The geopolitical conflict in the Middle East has reduced global oil and natural gas supplies. When supply is reduced in a commodity market, prices rise. When commodity prices rise, companies that produce those commodities generate larger revenues and earnings. If you are a dividend investor looking at energy stocks today, you need to remember that an end to the Middle East conflict will likely rev...
The geopolitical conflict in the Middle East has reduced global oil and natural gas supplies. When supply is reduced in a commodity market, prices rise. When commodity prices rise, companies that produce those commodities generate larger revenues and earnings. If you are a dividend investor looking at energy stocks today, you need to remember that an end to the Middle East conflict will likely reverse all of that. Increased supply will lead to lower commodity prices and lower revenue and earnings for energy companies. Dividend investors need to stick with companies that have proven they can keep paying shareholders well through the entire energy cycle. Here are four businesses that have done just that. Image source: Getty Images. Continue reading
Launching AI Into Orbit Authored by Timothy Murphy via RealClearDefense , The Strait of Hormuz reminds us that a single chokepoint can shape the global economy overnight. What most policymakers miss is that space has its own version of Hormuz—and we are rapidly losing control of it. Multiple sectors of the global economy are dependent on access to the Strait of Hormuz , but nations are becoming ev...
Launching AI Into Orbit Authored by Timothy Murphy via RealClearDefense , The Strait of Hormuz reminds us that a single chokepoint can shape the global economy overnight. What most policymakers miss is that space has its own version of Hormuz—and we are rapidly losing control of it. Multiple sectors of the global economy are dependent on access to the Strait of Hormuz , but nations are becoming ever more reliant upon access to space to drive their economies. Similar to the Strait, the key corridor in space is Low Earth Orbit (LEO). All space systems are dependent upon access to it (either directly or indirectly), and the security of LEO and freedom of maneuver in space will increasingly rely upon Artificial Intelligence (AI). Success will come from AI’s capabilities in advancing commercial space activity, responding to current and future threats in space, and ensuring AI dominance through American control of the AI supply chain. AI is fundamental to maintaining U.S. advantages in commercial space activity . Many people still do not realize the extent of U.S. military involvement in all international space activity - both military and commercial. During my time standing up current operations at U.S. Space Command, we saw the volume and speed of activity in space explode beyond what human operators could effectively track in real time . That gap is only widening. The Space Force operates a Space Surveillance Network that monitors the space environment and tracks all artificial objects in Earth’s orbit. U.S. and foreign companies use this data to launch satellites, avoid debris, and ensure their systems do not conflict with other objects in space. The surveillance network has always relied upon complex algorithms, and as the volume and complexity of space-based activity increases, AI compute will be increasingly necessary. Providing this surveillance and tracking service will also advance U.S. advantages in the development of the commercial space industry. The Federal ...
Nokia Oyj (HLSE:NOKIA) is expanding its AI driven network offering through new alliances with Orange SA and RUCKUS Networks. With Orange, Nokia plans to co develop AI powered 5G radio access network technologies using its anyRAN software and NVIDIA AI infrastructure. With RUCKUS Networks, Nokia is providing early access to an integrated Wi Fi 7 and Fiber Optical LAN solution aimed at high bandwidt...
Nokia Oyj (HLSE:NOKIA) is expanding its AI driven network offering through new alliances with Orange SA and RUCKUS Networks. With Orange, Nokia plans to co develop AI powered 5G radio access network technologies using its anyRAN software and NVIDIA AI infrastructure. With RUCKUS Networks, Nokia is providing early access to an integrated Wi Fi 7 and Fiber Optical LAN solution aimed at high bandwidth enterprise use cases. Nokia enters these agreements with its share price at €8.946 and a...
Wall Street has a short memory and an even shorter fuse. When a stock cracks, conviction tends to follow price, not the other way around. Investors who loved a company at $300 will quietly hate it at $145, even when the underlying business has barely budged. That pattern has been playing out in ...
Wall Street has a short memory and an even shorter fuse. When a stock cracks, conviction tends to follow price, not the other way around. Investors who loved a company at $300 will quietly hate it at $145, even when the underlying business has barely budged. That pattern has been playing out in ...