Indian bonds may be heading into a challenging stretch after the Reserve Bank of India’s dramatic move to cap onshore currency wagers raises the possibility of stronger measures — including possible interest rate hikes — to support the rupee. The 10-year yield rose nine basis points to 7.04% on Monday, breaking above the 7% level that the central bank had strongly defended with its debt purchases ...
Indian bonds may be heading into a challenging stretch after the Reserve Bank of India’s dramatic move to cap onshore currency wagers raises the possibility of stronger measures — including possible interest rate hikes — to support the rupee. The 10-year yield rose nine basis points to 7.04% on Monday, breaking above the 7% level that the central bank had strongly defended with its debt purchases just last month. This is the highest level since June 2024, and analysts expect yields to rise as high as 7.25% in the coming weeks. The local bond and currency markets were shut Tuesday and Wednesday for a holiday. The RBI’s crackdown on bearish rupee positions may be followed by additional measures, including tighter limits on banks’ positions and further curbs in the offshore currency market, according to Barclays Plc strategists. The move risks amplifying stress beyond bonds into broader funding markets, complicating the government’s ability to carry out its record borrowing for the new fiscal year that began Wednesday. “The RBI starting to take sharp administrative measures to curb speculation in the rupee could be the first clear sign that the monetary policy reaction-function is changing and that policy communication is likely to undergo a material shift,” said Abhishek Upadhyay , senior economist at ICICI Securities Primary Dealership Ltd. Read More: Arb Trade’s $30 Billion Blowup Is Just Starting for Indian Rupee The unease is visible in the swaps market. Traders are now pricing in a full rate hike, along with tighter liquidity, as soon as next week’s policy meeting. The three-month overnight indexed swap rate jumped 17 basis points on Monday — its biggest rise in nearly four years — to 5.72%, nearly 50 basis points above the RBI’s benchmark rate of 5.25%. The market is concerned over whether the RBI could tilt toward tighter policy, given the rising inflation risks, said Rajeev Pawar , head of treasury at Ujjivan Small Finance Bank Ltd. Although he does not expect...
Adjusted for inflation, oil prices are less than half what they were when they peaked at $144 in July 2008. Technical indicators suggest to Lee that risk assets are primed for a bounce
Adjusted for inflation, oil prices are less than half what they were when they peaked at $144 in July 2008. Technical indicators suggest to Lee that risk assets are primed for a bounce
tupungato/iStock Editorial via Getty Images Shares of French luxury retailer LVMH Moët Hennessy-Louis Vuitton ( LVMHF ) ( LVMUY ) has experienced their worst start to a year ever, dropping 28% in the first quarter, the greatest decline among major European luxury companies. According to a Bloomberg analysis this decline surpasses the downturns seen during the 2008-2009 financial crisis, the 2020 C...
tupungato/iStock Editorial via Getty Images Shares of French luxury retailer LVMH Moët Hennessy-Louis Vuitton ( LVMHF ) ( LVMUY ) has experienced their worst start to a year ever, dropping 28% in the first quarter, the greatest decline among major European luxury companies. According to a Bloomberg analysis this decline surpasses the downturns seen during the 2008-2009 financial crisis, the 2020 Covid-19 pandemic, and the 2001 Dot-com bubble. The sell-off underscores the deepening impact of the Middle East conflict on the global economy, specifically the disruption to high-end travel and tourism corridors essential for luxury consumption. This weakness is reflected across the broader market, as the Consumer Discretionary Select Sector SPDR Fund ( XLY ) declined 10.72% in Q1 2026. The sector significantly underperformed the benchmark S&P 500 Index, which recorded a 7.5% loss over the same period. Market analysts, including Morningstar’s Jelena Sokolova, note that investors remain deeply concerned about the conflict's ripple effects on the cost of living and global growth. This sentiment has dragged down other European heavyweights like Novo Nordisk ( NVO ) and SAP ( SAP ), further weighing on regional indices. While LVMH is due to report Q1 revenue later this month, with analysts forecasting a marginal 0.65% uptick in its core Fashion & Leather Goods unit, the financial damage is already visible. The share price collapse has erased $55.9 billion from CEO Bernard Arnault’s net worth, bringing his fortune to approximately $152 billion, according to the Bloomberg Billionaires Index. Despite the volatility, the Arnault family strategically increased its stake in LVMH during the quarter, crossing the symbolic 50% ownership threshold. However, headwinds remain; Morgan Stanley warned that the company can only partially offset the effects of foreign exchange and tariffs through price increases, aiming to avoid losing middle-income consumers. Notably, the Wine & Spirits divis...
Donny DBM/iStock via Getty Images Key takeaways 1 The fund lagged its benchmark for the quarter but exceeded peers. Class A shares underperformed the MSCI ACWI Growth Index for the quarter but exceeded the peer group average, ranking in the 40 th percentile (147 of 314) of the Morningstar Global Large-Stock Growth category. 2 US stocks lagged non-US stocks; growth stocks underperformed Global equi...
Donny DBM/iStock via Getty Images Key takeaways 1 The fund lagged its benchmark for the quarter but exceeded peers. Class A shares underperformed the MSCI ACWI Growth Index for the quarter but exceeded the peer group average, ranking in the 40 th percentile (147 of 314) of the Morningstar Global Large-Stock Growth category. 2 US stocks lagged non-US stocks; growth stocks underperformed Global equities rose, led by emerging market and European equities, as Asia's technology-driven gains offset late-quarter weakness in US technology stocks. 3 Positioned for upside in 2026 Looking to 2026, we believe a supportive macroeconomic backdrop and easing monetary policy support our constructive outlook for global equities. We believe the most compelling opportunities are in high quality companies and leading AI innovators. Manager perspective and outlook Global equities were positive for the quarter, with international equities outperforming the US as late-quarter concerns about elevated technology valuations appeared to temper AI-driven momentum. Emerging markets led due to a broad Asian technology rally and robust results in South Korea; China lagged due to weak economic data and currency strength. Europe also delivered solid returns, supported by a stronger euro, improving manufacturing trends and expectations of fiscal stimulus in Germany. Looking to 2026, we maintain a constructive outlook for global equities, supported by reduced trade policy uncertainty, firmer growth forecasts and expected monetary easing led by the US Federal Reserve, despite cooling in the US labor market. Risks such as slower growth, renewed inflation and geopolitics have persisted, but we do not expect them to materially alter our long-term investment views. In this environment, we still favor high quality companies with good balance sheets, attractive profit margins and solid cash-generation capabilities. We see greater vulnerabilities in private markets and lower quality AI-themed companies relia...
Earnings Call Insights: Beyond Meat (BYND) Q4 2025 Management view “We entered a challenging year for our brand with an equally challenging quarter,” and management said it used the period to execute “foundational building blocks,” including “an enterprise-wide transformation initiative with a focus on rightsizing our operations and expanding our margins,” plus “laid the groundwork for repositioni...
Earnings Call Insights: Beyond Meat (BYND) Q4 2025 Management view “We entered a challenging year for our brand with an equally challenging quarter,” and management said it used the period to execute “foundational building blocks,” including “an enterprise-wide transformation initiative with a focus on rightsizing our operations and expanding our margins,” plus “laid the groundwork for repositioning Beyond Meat to Beyond the Plant protein company” (Founder, President & CEO Ethan Brown). Management attributed Q4 performance to “persistent weak demand in the plant-based meat category,” alongside “a number of significant nonroutine charges,” and said this created “substantial noise in our reported numbers” (CEO Brown). “Total company net revenues decreased 19.7% to $61.6 million” and the decline was “primarily driven by a 22.4% decrease in volume of products sold” (CFO & Treasurer Lubi Kutua). “We are encouraged by the progress of our transformation office led by our interim Chief Transformation Officer, John Boken,” including steps to consolidate production, optimize the “new continuous production line” in Columbia, Missouri, invest in automation, reduce material and logistics costs, exit less profitable lines, and reduce inventory (CEO Brown). Management highlighted new product efforts and a brand expansion into adjacent categories, centered on “our exciting new drink platform Beyond Immerse,” which it said generated “over 3 billion media impressions” and “sold out of our first limited-run inventory quickly” (CEO Brown). Outlook Net revenues guidance for Q1 2026 was “approximately $57 million to $59 million” vs. $63.51M (analysts’ revenue estimate for Q1 2026). Management said it is maintaining “only limited and very near-term guidance” because it continues to see “elevated levels of uncertainty and therefore, low visibility within our core category of plant-based meat” (CFO Kutua). Compared with the prior quarter’s approach, management again emphasized constrained v...
mohd izzuan nCino ( NCNO ) stock price jumped about 19% on Wednesday during pre-market hours of trading after it reported Q4 performance that exceeded guidance across key metrics. The outperformance was majorly driven by strong contract growth, margin expansion, and improved profitability, while returning capital via a $ 100M accelerated share repurchase . nCino ( NCNO ) posted Q4 revenue of $149....
mohd izzuan nCino ( NCNO ) stock price jumped about 19% on Wednesday during pre-market hours of trading after it reported Q4 performance that exceeded guidance across key metrics. The outperformance was majorly driven by strong contract growth, margin expansion, and improved profitability, while returning capital via a $ 100M accelerated share repurchase . nCino ( NCNO ) posted Q4 revenue of $149.7M, representing a ~6% Y/Y increase , that beat market expectations by $2.26M. While full-year fiscal 2026 revenue reached $594.8M. Subscription revenues continued to dominate the mix, accounting for 88% of total revenue in FY2026, up from 86% two years earlier, highlighting a structural shift toward higher-margin recurring income streams. Its annual contract value (ACV) rose 17% Y/Y, marking one of the strongest leading indicators of forward revenue growth. The fiscal 2026 ACV net retention rate improved to 112% from 106% prior year, signaling strong customer expansion. For fiscal 2027, nCino guided total revenue between $639M–$643M (vs. consensus of $ 641.69M) (~8% growth) and subscription revenue of $569M–$573M (9–10% growth) and an ACV target of $662.5M–$667.5M. Non-GAAP EPS for the quarter came in at $0.37, beating consensus by $0.16 and nearly doubling from $0.19 a year earlier. Non-GAAP net income reached $42.8M, compared with $22M in the prior-year quarter. Outlook for 2027 outlines Non-GAAP operating income between $165M–$170M (~26% margin) and free cash flow of $132M–$137M. Seeking Alpha gives the stock a Strong Sell quant rating with the factor grades given to valuation and momentum. SA contritutor wrote "nCino offers compelling value in the small/mid-cap space, with strong growth and a recent stock dip creating a buying opportunity." More on nCino nCino, Inc. (NCNO) Q4 2026 Earnings Call Transcript nCino, Inc. 2026 Q4 - Results - Earnings Call Presentation NCino outlines fiscal 2027 free cash flow of $132M-$137M while targeting 10% ACV growth nCino Non-GAAP EPS ...
The defense ministers of France and Japan pledged to work together on security in the Pacific as the conflict in the Middle East draws away American military supplies and troops from the region. “As the world attention focuses on the Middle East, it is important to ensure that there are no gaps in the security of the Indo-Pacific region,” Japanese Defense Minister Shinjiro Koizumi said after a mee...
The defense ministers of France and Japan pledged to work together on security in the Pacific as the conflict in the Middle East draws away American military supplies and troops from the region. “As the world attention focuses on the Middle East, it is important to ensure that there are no gaps in the security of the Indo-Pacific region,” Japanese Defense Minister Shinjiro Koizumi said after a meeting in Tokyo with Catherine Vautrin , minister of the Armed Forces of France. The ministers signed a roadmap for cooperation, although no details were provided. They have a mutual interest in maintaining a balance of power in the Indo-Pacific, where China is increasingly assertive. In September, Paris and Tokyo held a joint military exercise named Brunet-Takamori in New Calendonia, a French group of islands in the southwest Pacific Ocean. The ministers were meeting ahead of a summit between French President Emmanuel Macron and Japanese Prime Minister Sanae Takaichi later in the day. According to an official in Macron’s office, the leaders will discuss maritime security in the Strait of Hormuz — although French and Japanese officials have stressed that any expanded role in the area would only be envisaged once the current conflict has subsided. The meeting comes as Brent oil futures fell below $100 a barrel for the first time in a week, after President Donald Trump said he foresaw the war on Iran ending within two to three weeks. He has also said that countries relying on the Middle East for its oil should fend for themselves, leaving questions hanging over how the strait may be managed after the situation is settled. The effective closure of the Strait of Hormuz is a blow for both France and Japan. Japan relies on the Middle East for over 90% of its oil, while Europe has been dependent on natural gas — a fifth of which passes through the choke point. Earlier at a business event in Tokyo, Macron made a veiled jab at Trump when he touted Europe’s “predictability” compared to...
Stock index futures pointed higher before the bell Wednesday as Wall Street looked to continue its upbeat mood amid hopes of a resolution to the Iran conflict. Nasdaq 100 futures ( US100:IND ) rose 0.73%, S&P 500 futures ( SPX ) advanced 0.48%, and Dow Jones Industrial Average futures ( INDU ) climbed 0.44%. President Donald Trump will deliver a prime-time address on Wednesday at 9 p.m. Washington...
Stock index futures pointed higher before the bell Wednesday as Wall Street looked to continue its upbeat mood amid hopes of a resolution to the Iran conflict. Nasdaq 100 futures ( US100:IND ) rose 0.73%, S&P 500 futures ( SPX ) advanced 0.48%, and Dow Jones Industrial Average futures ( INDU ) climbed 0.44%. President Donald Trump will deliver a prime-time address on Wednesday at 9 p.m. Washington time to provide an update on the war in Iran, White House Press Secretary Karoline Leavitt said. On Tuesday, Trump said he was prepared to wind down the military campaign against the country within weeks. Treasury yields edged lower across the curve. The 10-year Treasury yield ( US10Y ) fell 3.9 basis points to 4.28%, while the 2-year yield ( US2Y ) dropped 4.3 basis points to 3.76%. The 30-year yield ( US30Y ) declined 4 basis points to 4.87%. On the economic calendar, investors will watch for the ADP Employment Report, Retail Sales, PMI Manufacturing Final, and ISM Manufacturing Index. More on markets Stasis In The U.S. Labor Market: A Peculiar Situation The Market Can Still Climb This Wall Of Worry - But Not Yet The Market's Big Problem Is Persistence Trump to address nation Wednesday on Iran as U.S. signals exit