London ( UKX ) -0.30% Germany ( DAX:IND ) -0.69%. Germany’s factory orders dropped 3.8% mom in April 2026, reversing a downwardly revised 4.5% increase in the prior month and missing market estimates. France ( CAC:IND ) -0.62% In other parts of Europe, t he Czech unemployment rate edged down to 4.8% in May. The trade surplus in the Czech Republic sharply narrowed to CZK 6.8B in April. The pan-Euro...
London ( UKX ) -0.30% Germany ( DAX:IND ) -0.69%. Germany’s factory orders dropped 3.8% mom in April 2026, reversing a downwardly revised 4.5% increase in the prior month and missing market estimates. France ( CAC:IND ) -0.62% In other parts of Europe, t he Czech unemployment rate edged down to 4.8% in May. The trade surplus in the Czech Republic sharply narrowed to CZK 6.8B in April. The pan-European Stoxx 600 ( STOXX) slipped 0.61% to €618.9, as traders weighed the renewed escalation of the conflict between Iran and Israel and a fresh spike in oil prices. Gold slipped below $4,300 an ounce on Monday, falling to its lowest level in more than two months. The euro steadied just above $1.15, close to its weakest level since start of April. Brent crude futures jumped more than 4% to above $97 per barrel on Monday. In the bond market, the yield on the US 10-year Treasury was up 4 basis points to 4.57%. UK's 10-year yield was up 4 basis points to 4.95%. Germany's 10-year yield was up 2 basis points to 3.06%, reaching its highest since May 21, as traders nearly fully priced in three ECB rate hikes this year. Currencies: ( EUR:USD ) ( GBP:USD ) ( CHF:USD ) ETFs: (NYSEARCA: EWG ), (NYSE: GF ), (NYSEARCA: EWI ), (NYSEARCA: EWQ ), (NASDAQ: FGM ), (NASDAQ: DAX ), (NYSEARCA: FLGR ), (NYSEARCA: FXB ), (NYSEARCA: EWU ), (NASDAQ: FKU ), (BATS: EWUS ), (NYSEARCA: FLGB ), (NYSEARCA: GREK ) More on Europe Week Ahead: Surging Greenback On Robust Jobs Data, While ECB Hike Seen As A Done Deal Stronger Dollar Trade: The Most Unexpected Macro Bet (Part 2) New Fed May Sap Market's Reaction Function To U.S. Jobs Report Global stocks extend retreat as rate hike fears, Middle East tensions rattle markets Goldman Sachs drops 2026 Fed cut call after strong jobs data
Key PointsWhat previously required multi-step communications, relatively expensive infrastructure, and time can now be efficiently accomplished by the savvy use of mobile technology.
Key PointsWhat previously required multi-step communications, relatively expensive infrastructure, and time can now be efficiently accomplished by the savvy use of mobile technology.
Spain-Style Blackout Risk Rises As ERCOT Flags Boston-Sized Data Center Loads Tripping Offline The Electric Reliability Council of Texas (ERCOT) gave the market another concrete reason to stop pretending the grid can absorb unlimited hyperscale load growth on top of an already strained generation mix. In a May 21st report, ERCOT disclosed that multiple clusters of proposed data centers and crypto ...
Spain-Style Blackout Risk Rises As ERCOT Flags Boston-Sized Data Center Loads Tripping Offline The Electric Reliability Council of Texas (ERCOT) gave the market another concrete reason to stop pretending the grid can absorb unlimited hyperscale load growth on top of an already strained generation mix. In a May 21st report, ERCOT disclosed that multiple clusters of proposed data centers and crypto facilities failed voltage ride-through testing . When subjected to simulated routine voltage disturbances, such as the kind caused by transmission faults, capacitor switching, or equipment issues, four groups of these large users simply disconnected . Models showed each group capable of removing more than 5,000 MW of demand in one event. “Those abrupt drops in demand were equivalent to the electricity consumption of a large city such as Boston ” In a real-world fault on the Texas grid, those facilities would not ride through the sag and remain online like traditional industrial customers. Their protection systems would trip them offline to protect servers and mining rigs. Only Texas is aware of the power demand tsunami that is coming. The US is woefully unprepared for the coming explosion in electricity demand pic.twitter.com/9wfgBbS6D8 — zerohedge (@zerohedge) December 13, 2024 The instantaneous loss of thousands of megawatts of demand creates an immediate generation surplus . Frequency rises sharply. Other units can trip on over-frequency protection or be forced into abnormal operation. In tight reserve conditions or during summer peak, the event does not stay localized . It becomes a system stress event. ERCOT has already recorded at least 26 such disconnection events involving data centers or crypto operations since 2023. The operator is now reviewing roughly 20 GW of large-customer applications, including several gigawatts slated to energize before July. The board has elevated voltage ride-through performance to a top priority precisely because the scale of these new l...
Israel said it struck several military targets in Iran, retaliating against missile attacks by Tehran despite President Donald Trump’s call for Prime Minister Benjamin Netanyahu to refrain from hitting back. (Source: Bloomberg)
Israel said it struck several military targets in Iran, retaliating against missile attacks by Tehran despite President Donald Trump’s call for Prime Minister Benjamin Netanyahu to refrain from hitting back. (Source: Bloomberg)
Tuchel criticises England’s ‘freestyle’ approach Player guide | Bracketology | Wallchart | Mail David Good news for Spain. Rumours that Lamine Yamal may miss Spain’s first two World Cup group games (against Cape Verde and South Africa) may be wide of the mark. The 18-year-old Barcelona winger was absent for the final six matches of the season due to a torn hamstring and hasn’t played since April. ...
Tuchel criticises England’s ‘freestyle’ approach Player guide | Bracketology | Wallchart | Mail David Good news for Spain. Rumours that Lamine Yamal may miss Spain’s first two World Cup group games (against Cape Verde and South Africa) may be wide of the mark. The 18-year-old Barcelona winger was absent for the final six matches of the season due to a torn hamstring and hasn’t played since April. But, speaking to our very own Sid Lowe, Spain boss Luis de la Fuente gave this encouraging update: Continue reading...
Khanchit Khirisutchalual/iStock via Getty Images Investment Scorecard Global stock markets were a mixed bag in the first quarter. Markets were helped in large part by easing trade war fears and, by extension, reduced concerns about higher global tariffs. However, rising geopolitical tensions from the war in Iran weighed on sentiment across many markets. The Russia-Ukraine war dragged on, and conce...
Khanchit Khirisutchalual/iStock via Getty Images Investment Scorecard Global stock markets were a mixed bag in the first quarter. Markets were helped in large part by easing trade war fears and, by extension, reduced concerns about higher global tariffs. However, rising geopolitical tensions from the war in Iran weighed on sentiment across many markets. The Russia-Ukraine war dragged on, and concerns over global energy supplies continued to mount. Taiwan remains a point of contention between the United States and China, with no real resolution in sight. In the first quarter, the total return of the S&P 500 Index was down 4.3%, while most non-U.S. stock markets performed better. The MSCI EAFE was roughly flat in the quarter. Some of the weaker foreign markets were India, down over 15%, and Germany, down about 7%. South Korea, on the other hand, was up a notable 20%. Brazil had a strong quarter, with its market up 16%. During the first quarter, the Federal Reserve did not cut short-term interest rates and left them standing at 3.8%. We expect the Federal Reserve will probably keep rates steady for a few more months, even after a new Federal Reserve Chair takes over. It is worth noting that many foreign central banks have been more aggressive in normalizing interest rates. Portfolio Highlights Total Net Assets: $68.7 Million NAV (Class I): $35.49 Turnover: (a) 5% Inception Date: 02/03/94 Gross/Net Expense Ratio: (b) 1.35%/0.90% Click to enlarge (a) For the six months ended June 30, 2025. (b) As of the current prospectus dated April 30, 2026. Net expense ratio after reimbursement from the Adviser. Effective through April 30, 2027, unless terminated early by the Fund's Board of Directors. Share Class Symbol Class AAA: GAGCX Class A: GAGAX Class I: GAGIX Click to enlarge Comparative Results Average Annual Returns through March 31, 2026 (a) Total returns and average annual returns reflect changes in share price, reinvestment of distributions, and are net of expenses. Perfo...