Bond traders kicked off the week betting that the Federal Reserve will keep interest rates on hold for the coming year, with the Treasuries market holding steady ahead of President Donald Trump’s extended deadline for Iran to reopen the Strait of Hormuz. Interest-rate swaps showed traders wiped out what little remained of their wagers on Fed easing after unexpectedly strong US labor market data we...
Bond traders kicked off the week betting that the Federal Reserve will keep interest rates on hold for the coming year, with the Treasuries market holding steady ahead of President Donald Trump’s extended deadline for Iran to reopen the Strait of Hormuz. Interest-rate swaps showed traders wiped out what little remained of their wagers on Fed easing after unexpectedly strong US labor market data were released Friday during a holiday-abbreviated session. That view prevailed as trading resumed Monday, keeping the yield on policy-sensitive two-year Treasuries around 3.86% and the 10-year yield at about 4.34%. The dollar slid. “The uncertainties created by the war in Iran continue to overshadow the fundamentals,” Ian Lyngen , head of US rates strategy at BMO Capital Markets, wrote in a note. “The US rates market remains slightly cheaper, although the strength of the March payrolls report has undoubtedly contributed to a bond-bearish underpinning at the moment.” Monday’s only major economic release, the Institute for Supply Management’s report on services activity for March, had limited market impact as its overall gauge and an employment measure declined more than economists estimated, while indexes for prices and new orders exceeded estimates. Investors in the $31 trillion US government debt market remain on alert for geopolitical developments as optimism mounts for an agreement on terms to end the war with Iran. Trump extended his deadline to Tuesday for Tehran to reopen the Strait of Hormuz, and global benchmark Brent traded near $109 a barrel, after a session high near $112. Disruptions to oil supply from the region have been a major driver for bond investors, who are stuck considering both the growth and inflation risks posed by a surge in energy prices. Yields over the past month have largely tracked oil prices higher on the perception that rising gasoline prices would show up in US inflation gauges and force the Fed to delay rate cuts. Before the US attacked Iran ...
A daughter of Malaysia’s late finance minister Daim Zainuddin will be charged at the Kuala Lumpur Sessions Court on Tuesday. Lawyer Yu Ying Ying confirmed that Asnida Daim, who is in her 60s, will be charged under Section 36(2) of the Malaysian Anti-Corruption Commission (MACC) Act 2009. That section relates to the offence of failing to comply with a written notice from the MACC to declare assets....
A daughter of Malaysia’s late finance minister Daim Zainuddin will be charged at the Kuala Lumpur Sessions Court on Tuesday. Lawyer Yu Ying Ying confirmed that Asnida Daim, who is in her 60s, will be charged under Section 36(2) of the Malaysian Anti-Corruption Commission (MACC) Act 2009. That section relates to the offence of failing to comply with a written notice from the MACC to declare assets. Court records indicate the case will be mentioned before Judge Rosli Ahmad at 9am. In a separate...
The Zacks Computer - Services industry players like CACI, GIB and PDFS are poised to benefit from digital transformation despite macroeconomic headwinds.
The Zacks Computer - Services industry players like CACI, GIB and PDFS are poised to benefit from digital transformation despite macroeconomic headwinds.
Corn price action is showing fractional losses on Monday morning coming out of Easter weekend, though they are ~3 cents off overnight lows. Futures headed into the long weekend, with some front month weakness as money was being taken off the table. Old crop contracts were fractionally to 2 cents...
Corn price action is showing fractional losses on Monday morning coming out of Easter weekend, though they are ~3 cents off overnight lows. Futures headed into the long weekend, with some front month weakness as money was being taken off the table. Old crop contracts were fractionally to 2 cents...
Wheat is trading with early losses across the three exchanges so far on Monday as the market comes out of the long weekend. The wheat complex held on for marginal gains to head into the long weekend. Chicago SRW futures saw fractional to 2 cent gains on the day, with...
Wheat is trading with early losses across the three exchanges so far on Monday as the market comes out of the long weekend. The wheat complex held on for marginal gains to head into the long weekend. Chicago SRW futures saw fractional to 2 cent gains on the day, with...
The largest part of the economy grew a bit slower in March as the Iran war drove up oil and other prices and companies responded by reducing employment, suggesting a rockier path for the economy until the conflict ends.
The largest part of the economy grew a bit slower in March as the Iran war drove up oil and other prices and companies responded by reducing employment, suggesting a rockier path for the economy until the conflict ends.
BING-JHEN HONG/iStock Editorial via Getty Images NVIDIA could be comparable to 'Liberation Day' on a fundamental basis NVIDIA Corporation (NASDAQ: NVDA ), in conjunction with semiconductors as a whole and the software that relies on them, are having a bad years as sectors. As of now, it's nowhere near as bad as last April's 'Liberation Day' tariff tantrum meltdown, but NVIDIA is underperforming th...
BING-JHEN HONG/iStock Editorial via Getty Images NVIDIA could be comparable to 'Liberation Day' on a fundamental basis NVIDIA Corporation (NASDAQ: NVDA ), in conjunction with semiconductors as a whole and the software that relies on them, are having a bad years as sectors. As of now, it's nowhere near as bad as last April's 'Liberation Day' tariff tantrum meltdown, but NVIDIA is underperforming the market. The question here is, despite the growth in share price from April 2025 til now, does the stock look like as good a deal fundamentally as April 2025? Let's explore. Analysts estimating NVIDIA forward earnings Seeking Alpha The most reliable data here will be the next 3 years of earnings; beyond that, there are not enough analysts offering their opinions to make the data worthwhile. As for 2027 through 2029, high double-digit average earnings growth is expected; if true, this would be an extension of the already phenomenal run. With revenue and earnings growth being the two most important fundamental multiple points, this growth can make a stock as cheap as a prior meltdown with only half as steep a drawdown. A Forward P/E Ratio Comparison Data by YCharts Here we can see the forward GAAP P/E ratio for NVIDIA. If you observe the dip for 2025, we are right at those same forward earnings multiple levels. -30+% drawdown vs. -15+% Data by YCharts Looking at the drawdowns over this period, the current drawdown is less than half as much as the year prior, but earnings growth and growth expectations have made the stock as cheap from this perspective as it was last year. 3 Year price vs growth metrics Data by YCharts Taking a look at the trailing 3 year reflexivity patterns, or in other words, comparing the 3-year growth rates in revenue, earnings, and free cash flow to the growth in price, we now find price once again dipping below those growth rates. This is usually a positive marker and entry point if growth rates continue. These are famously used by both Peter Lynch and...
BING-JHEN HONG/iStock Editorial via Getty Images NVIDIA could be comparable to 'Liberation Day' on a fundamental basis NVIDIA Corporation (NASDAQ: NVDA ), in conjunction with semiconductors as a whole and the software that relies on them, are having a bad years as sectors. As of now, it's nowhere near as bad as last April's 'Liberation Day' tariff tantrum meltdown, but NVIDIA is underperforming th...
BING-JHEN HONG/iStock Editorial via Getty Images NVIDIA could be comparable to 'Liberation Day' on a fundamental basis NVIDIA Corporation (NASDAQ: NVDA ), in conjunction with semiconductors as a whole and the software that relies on them, are having a bad years as sectors. As of now, it's nowhere near as bad as last April's 'Liberation Day' tariff tantrum meltdown, but NVIDIA is underperforming the market. The question here is, despite the growth in share price from April 2025 til now, does the stock look like as good a deal fundamentally as April 2025? Let's explore. Analysts estimating NVIDIA forward earnings Seeking Alpha The most reliable data here will be the next 3 years of earnings; beyond that, there are not enough analysts offering their opinions to make the data worthwhile. As for 2027 through 2029, high double-digit average earnings growth is expected; if true, this would be an extension of the already phenomenal run. With revenue and earnings growth being the two most important fundamental multiple points, this growth can make a stock as cheap as a prior meltdown with only half as steep a drawdown. A Forward P/E Ratio Comparison Data by YCharts Here we can see the forward GAAP P/E ratio for NVIDIA. If you observe the dip for 2025, we are right at those same forward earnings multiple levels. -30+% drawdown vs. -15+% Data by YCharts Looking at the drawdowns over this period, the current drawdown is less than half as much as the year prior, but earnings growth and growth expectations have made the stock as cheap from this perspective as it was last year. 3 Year price vs growth metrics Data by YCharts Taking a look at the trailing 3 year reflexivity patterns, or in other words, comparing the 3-year growth rates in revenue, earnings, and free cash flow to the growth in price, we now find price once again dipping below those growth rates. This is usually a positive marker and entry point if growth rates continue. These are famously used by both Peter Lynch and...
In recent days, BeOne Medicines AG gained fresh attention as Wolfe Research initiated coverage with an Outperform rating and the company secured FDA orphan drug designation for its hepatocellular carcinoma candidate, adding to a portfolio anchored by oncology brands such as Brukinsa and Tevimbra. This combination of external validation from a new analyst and regulatory support for a liver cancer t...
In recent days, BeOne Medicines AG gained fresh attention as Wolfe Research initiated coverage with an Outperform rating and the company secured FDA orphan drug designation for its hepatocellular carcinoma candidate, adding to a portfolio anchored by oncology brands such as Brukinsa and Tevimbra. This combination of external validation from a new analyst and regulatory support for a liver cancer therapy reinforces the breadth and perceived quality of BeOne’s oncology pipeline. We’ll now...
XPeng Inc. recently reported that it delivered 27,415 vehicles in March 2026, an 80% month-on-month rebound, and 62,682 vehicles for the first quarter, while also unveiling a three-year Latin America plan that includes entering Mexico and rolling out pure electric and range-extended models from 2027. By pairing a sharp recovery in monthly deliveries with a clear roadmap for regional expansion, XPe...
XPeng Inc. recently reported that it delivered 27,415 vehicles in March 2026, an 80% month-on-month rebound, and 62,682 vehicles for the first quarter, while also unveiling a three-year Latin America plan that includes entering Mexico and rolling out pure electric and range-extended models from 2027. By pairing a sharp recovery in monthly deliveries with a clear roadmap for regional expansion, XPeng is signaling a push to reduce reliance on its home market and broaden its global...
Prices Jump, Employment Dumps As US ISM Services Disappoints In March The last six months or so has seen S&P Global's and ISM's Services PMI surveys diverge dramatically (former at three year lows, latter near four year highs). But, following S&P Global's Services PMI plunge into contraction in March , ISM's Services PMI actually 'agreed' and fell also (but only modestly) from 56.1 to 54.0 (still ...
Prices Jump, Employment Dumps As US ISM Services Disappoints In March The last six months or so has seen S&P Global's and ISM's Services PMI surveys diverge dramatically (former at three year lows, latter near four year highs). But, following S&P Global's Services PMI plunge into contraction in March , ISM's Services PMI actually 'agreed' and fell also (but only modestly) from 56.1 to 54.0 (still in expansion but worse than the expected 54.9)... Source: Bloomberg Under the hood it was a very mixed bag with a surge in New Orders (highest since Feb 2023 - good), but a simultaneous spike in Prices Paid (highest since August 2022 - bad), and a sudden plunge in Employment (weakest since Dec 2023 - ugly)... Thirteen industries reported growth in March, one fewer than in February, and the number reporting contraction remained at three. “The PMI survey data show the US economy buckling under the strain of rising prices and intensifying uncertainty, as the war in the Middle East exacerbates existing concerns regarding other policy decisions in recent months, notably with respect to tariffs," said Chris Williamson, Chief Business Economist at S&P Global Market Intelligence. Something for everyone in this report - doves will focus on slowing growth and tumbling employment; hawks on the continued expansion and spiking prices. For now, the market is undecided with rate-change odds flat. Tyler Durden Mon, 04/06/2026 - 10:06