Auctions of 10- and 30-year Treasury debt this week face scrutiny for signs of flagging foreign demand after several of last month’s sales, the first ones since the US attacked Iran, were shunned by overseas investors. While good results for a three-year note sale Tuesday — the first of the US government’s seven major auctions in April — allayed concern that the war is pushing up borrowing costs b...
Auctions of 10- and 30-year Treasury debt this week face scrutiny for signs of flagging foreign demand after several of last month’s sales, the first ones since the US attacked Iran, were shunned by overseas investors. While good results for a three-year note sale Tuesday — the first of the US government’s seven major auctions in April — allayed concern that the war is pushing up borrowing costs by sidelining buyers, doubts persist ahead of a 10-year note auction at 1 p.m. New York time. Gains for Treasuries spurred by a temporary cease-fire agreement trimmed the expected yield for the sale, however it still was poised to exceed 10-year auction results since July. Treasury Department data for the three auctions conducted during the first half of March revealed declines in the shares awarded to foreign accounts. Combined with Federal Reserve data showing a drop since mid-February in the amount of Treasury debt held in custody for foreign official and international accounts, it has advanced the theory that the war dented overseas demand for US debt, either directly or via the surge in oil prices it unleashed. “The March auction data doesn’t prove or disprove that theory as it is only one month of auction results, but the fall in foreign custody holdings indicates this may be the case,” said John Briggs , head of US rates strategy at Natixis SA’s US investment bank. Auction Allotments Demand was weak for most of last month’s auctions from investors of all stripes as elevated market volatility discouraged participation. The Treasury market suffered its biggest loss in a year as the oil surge drove up inflation expectations and mostly eliminated wagers on Federal Reserve interest-rate cuts this year. Foreign demand, however, has since been shown to have reversed a months-long trend of improvement in March. Treasury Department data released March 25 showed that the shares of three- and 10-year debt auctions allotted to foreign and international accounts declined to the lo...
Reply [EXM, STAR: REY] has been confirmed one of a small number of Launch Partners for Agent 365, supporting the general availability of Microsoft's new platform designed to provide enterprise-grade governance, observability and lifecycle management for AI agents.
Reply [EXM, STAR: REY] has been confirmed one of a small number of Launch Partners for Agent 365, supporting the general availability of Microsoft's new platform designed to provide enterprise-grade governance, observability and lifecycle management for AI agents.
Hedge funds are rushing to close out bets against US stocks at a pace not seen since the market rebounded from the crash set off by the pandemic in March 2020. Goldman Sachs Group Inc. ’s trading desk division reported that hedge fund managers sharply accelerated the covering of short positions tied to macro products — like major indexes and exchange-traded funds — late Tuesday, just after Preside...
Hedge funds are rushing to close out bets against US stocks at a pace not seen since the market rebounded from the crash set off by the pandemic in March 2020. Goldman Sachs Group Inc. ’s trading desk division reported that hedge fund managers sharply accelerated the covering of short positions tied to macro products — like major indexes and exchange-traded funds — late Tuesday, just after President Donald Trump announced a temporary ceasefire deal in his war against Iran. The bank said the volume of such unwinding is on track to reach the levels seen early in the pandemic. “This is the offramp the market has been waiting for,” John Flood , Goldman’s head of Americas equities execution services and partner, wrote in a note to clients Wednesday, adding that investors he’s speaking with see a high likelihood the move marks “the beginning of the end” of the conflict. The scramble to close out those positions may be helping to fuel the stock rally Wednesday, which has pushed up major indexes by more than 2%. It’s the sharpest jump since March 31, when the S&P 500 gained almost 3% on speculation that Trump was eager to extricate himself from the conflict he launched with Israel at the end of February. The movement marks a significant shift away from the buildup of positions that had been wagering the stock market had further to fall as the oil-price shock threatened to both derail US growth and reignite inflation. Goldman’s prime brokerage data shows that hedge fund short exposure in US macro products — including indexes and ETFs — had climbed to 12% of total gross exposure, the highest since the pandemic. The closing out of such bets — which typically entail selling borrowed securities, wagering they can be bought back after the price declines — can often boost prices as investors repurchase them. “The freeze phase is now behind us — we are currently in the squeeze phase,” Flood said. In early March, Flood warned that hedge-fund positioning across US equities has create...
Pam Bondi, US attorney general, during a swearing-in ceremony in the Oval Office of the White House in Washington, DC, US, on Tuesday, March 24, 2026. Graeme Sloane | Bloomberg | Getty Images Former Attorney General Pam Bondi will not appear as scheduled on April 14 to testify to the House Oversight and Government Reform Committee about her and the Department of Justice's handling of the Jeffrey E...
Pam Bondi, US attorney general, during a swearing-in ceremony in the Oval Office of the White House in Washington, DC, US, on Tuesday, March 24, 2026. Graeme Sloane | Bloomberg | Getty Images Former Attorney General Pam Bondi will not appear as scheduled on April 14 to testify to the House Oversight and Government Reform Committee about her and the Department of Justice's handling of the Jeffrey Epstein files, the panel's spokeswoman said Wednesday. The committee will contact Bondi's lawyer "to discuss next steps regarding scheduling her deposition," the spokeswoman said. Bondi's appearance was canceled because "she is no longer Attorney General and was subpoenaed in her capacity as Attorney General," the spokeswoman said. President Donald Trump fired Bondi as attorney general on April 2 after reports that he was unhappy with her handling of the Epstein files. Read more about the Jeffrey Epstein files List: High-profile people burned by past dealings exposed in the Epstein files House committee subpoenas Attorney General Pam Bondi Goldman Sachs’ Ruemmler, Bill Gates, Leon Black will testify to House panel Bill Clinton on Jeffrey Epstein: 'I saw nothing, and I did nothing wrong' DOJ withheld Epstein files about claim Trump sexually abused minor: MS NOW This is breaking news. Please refresh for updates. Choose CNBC as your preferred source on Google and never miss a moment from the most trusted name in business news.
Guido Mieth/DigitalVision via Getty Images Investment Summary My previous investment thought on Chagee ( CHA ) was still a hold rating because the core growth drivers were still weak. As for this update, I still do not think the recent developments are enough to justify a more bullish rating. What has improved is that management is now clearly focused on the right issue, which is same-store recove...
Guido Mieth/DigitalVision via Getty Images Investment Summary My previous investment thought on Chagee ( CHA ) was still a hold rating because the core growth drivers were still weak. As for this update, I still do not think the recent developments are enough to justify a more bullish rating. What has improved is that management is now clearly focused on the right issue, which is same-store recovery rather than unit growth. That is encouraging. But the operating data is still soft, and 2026 guidance also points more to stabilization than recovery. In my view, this keeps the stock range-bound for now. Management is Finally Working on the Right Problem Finally, we are seeing some actions being taken to fix the key issue with CHA, and we can see this from the 2026 operating plan. Management said same-store recovery is now the top KPI and plans for ~300 net new teahouses in Mainland China (note this figure was 824 in 2025). This is perhaps the most telling data point that management is stepping back from the previous playbook. It reads to me that management is now focused on fixing the same-store sales issue, and they have four focus areas here: (1) store operations, (2) consumer experience, (3) product innovation, and (4) organizational efficiency. Notice the focus here was not to lean on pricing, which I believe is the right strategy since it might have helped traffic for a while, but it would also have damaged the brand and made the recovery look low quality. Instead, by leaning towards driving demand through better products and a better store experience, I think that is the better path, even though the results may take longer to surface. There is also at least some early evidence that this approach can work. For instance, the new Signature Pu-erh tea launched in December had a 51% dormant member reactivation rate. This point is really good, as it shows two things: (1) product newness works, and (2) customers are still paying attention to CHA’s brand. Management also...
Insurance company seeking almost £300,000 for protests at UK offices, during which red paint was daubed on buildings One of the world’s largest insurance companies is suing six people alleged to have taken part in Palestine Action protests against the company. Allianz is seeking damages of almost £300,000 for protests at its UK offices in October 2024 and March 2025, in what is believed to be the ...
Insurance company seeking almost £300,000 for protests at UK offices, during which red paint was daubed on buildings One of the world’s largest insurance companies is suing six people alleged to have taken part in Palestine Action protests against the company. Allianz is seeking damages of almost £300,000 for protests at its UK offices in October 2024 and March 2025, in what is believed to be the first civil case brought against people accused of involvement in direct action with the protest group. Continue reading...
Stockah/iStock via Getty Images On paper, Primo Brands Corporation ( PRMB ) is the largest bottled water company in North America, leading in retail market share and operating more than 80 springs across the country. With a business model that consists of extracting water from natural springs or via purification of municipal water for its subsequent bottling and distribution both in supermarkets a...
Stockah/iStock via Getty Images On paper, Primo Brands Corporation ( PRMB ) is the largest bottled water company in North America, leading in retail market share and operating more than 80 springs across the country. With a business model that consists of extracting water from natural springs or via purification of municipal water for its subsequent bottling and distribution both in supermarkets and direct delivery. So far, an easy model to understand. As I have observed that the price has had a significant decline of -18% over the past month , I have decided to go deeper to determine whether this is due to an operational issue affecting the value chain of its two main verticals, which account for approximately 81% of revenues, with Regional Spring Water leading at $3.32B, followed by Purified Water/Direct Delivery at $2.1B. In other words, in this article we will discuss what happens to the water before it reaches the bottle and what happens after the bottle leaves the plant. Cost Structure Under Pressure First of all, I will start with the cost structure of the business itself, as it is an important part of understanding the model in large-scale bottled water production. Packaging represents the main source of COGS, including PET bottles, caps, labels, and shrink wrap, with a weight that I estimate to be around 40% or 50% of the unit cost of each bottle. Since 2025, PRMB has faced reciprocal tariffs applied to PET ranging from 15% to 50% , depending on the country of origin, pushing the spot price to $1,480/MT this past February 2026 . Additionally, simultaneously, there is the closure of Alpek’s plant in Cedar Creek, which has reduced domestic capacity by around 170,000 metric tons annually, tightening local supply just as imports continue to become more expensive. Therefore, all these developments or regulations related to PET packaging directly impact margins, where I estimate that for every 10% increase in PET costs, there is approximately a 140 bps compressio...
(RTTNews) - After skyrocketing at the start of trading on Wednesday, stocks have given back some ground over the course of the session but remain sharply higher. The major averages are all posting significant gains after ending the previous session narrowly mixed.
(RTTNews) - After skyrocketing at the start of trading on Wednesday, stocks have given back some ground over the course of the session but remain sharply higher. The major averages are all posting significant gains after ending the previous session narrowly mixed.
Activist investing is booming despite market uncertainty. Darren Novak, the Global Co-Head of Shareholder Engagement and M&A Capital Markets at JP Morgan joined Bloomberg Open Interest to explain why volatility, undervaluation, and record M&A activity are fueling a global surge in campaigns, and how evolving tactics are forcing boards to rethink how they engage with investors. (Source: Bloomberg)
Activist investing is booming despite market uncertainty. Darren Novak, the Global Co-Head of Shareholder Engagement and M&A Capital Markets at JP Morgan joined Bloomberg Open Interest to explain why volatility, undervaluation, and record M&A activity are fueling a global surge in campaigns, and how evolving tactics are forcing boards to rethink how they engage with investors. (Source: Bloomberg)
If you own an older Kindle e-reader, including models with physical keyboards or physical page-turn buttons that you've been reluctant to give up, Amazon has bad news for you. The company sent a message to owners of those devices today, informing them that starting on May 20 they would no longer be able to buy or download books from the Kindle Store. The change (as reported by Good E-Reader and el...
If you own an older Kindle e-reader, including models with physical keyboards or physical page-turn buttons that you've been reluctant to give up, Amazon has bad news for you. The company sent a message to owners of those devices today, informing them that starting on May 20 they would no longer be able to buy or download books from the Kindle Store. The change (as reported by Good E-Reader and elsewhere) affects all Kindles introduced and sold in 2012 or earlier, going all the way back to the original Kindle from 2007. Users will still be able to read books that have already been downloaded to those devices, but they won't be able to download more, and if they reset those Kindles to their factory defaults, the devices won't be able to sign back in to an Amazon account. "Affected devices include Kindle 1st and 2nd Generation, Kindle DX and DX Graphite, Kindle Keyboard, Kindle 4, Kindle Touch, Kindle 5, and Kindle Paperwhite 1st Generation," reads the message from the Kindle team. Older 2011 and 2012-era Kindle Fire tablets will also lose access to the Kindle Store. Read full article Comments
Kurt James Wolf, President & CEO of Pitney Bowes (NYSE:PBI) , executed the indirect sale of 200,208 common shares for a total consideration of approximately $2.22 million, as reported in the SEC Form 4 filing . Transaction value based on SEC Form 4 weighted average purchase price ($11.08); post-transaction value based on April 2, 2026 market close ($11.03). Pitney Bowes is a leading provider of in...
Kurt James Wolf, President & CEO of Pitney Bowes (NYSE:PBI) , executed the indirect sale of 200,208 common shares for a total consideration of approximately $2.22 million, as reported in the SEC Form 4 filing . Transaction value based on SEC Form 4 weighted average purchase price ($11.08); post-transaction value based on April 2, 2026 market close ($11.03). Pitney Bowes is a leading provider of integrated freight and logistics solutions, with a diversified business model spanning technology, logistics, and financial services. Continue reading