Berkshire Hathaway Inc. sold ¥272.3 billion ($1.7 billion) of yen-denominated bonds, marking its first such deal since Warren Buffett stepped down as chief executive officer. The six-tranche offering comprised maturities ranging from three to 30 years. The 10-year notes were priced at a spread of 90 basis points over benchmarks, with a coupon of 3.084%. In its previous yen deal in November 2025, B...
Berkshire Hathaway Inc. sold ¥272.3 billion ($1.7 billion) of yen-denominated bonds, marking its first such deal since Warren Buffett stepped down as chief executive officer. The six-tranche offering comprised maturities ranging from three to 30 years. The 10-year notes were priced at a spread of 90 basis points over benchmarks, with a coupon of 3.084%. In its previous yen deal in November 2025, Berkshire sold 10-year notes at a coupon of 2.422%. The Omaha, Nebraska-based company has expanded its investments in Japan, including stakes in major trading houses, and recently agreed to invest about ¥300 billion in Tokio Marine Holdings Inc. , signaling its continued confidence in the country. The deal attracted investors despite rising volatility in Japanese government bonds amid heightened tensions over Iran. It was the issuer’s third-largest yen deal on record, following its ¥430 billion debut in 2019 and a ¥281.8 billion sale in October 2024. “In this kind of environment, lesser-known issuers may find it difficult to come to market,” said Shunsuke Oshida , managing director at Manulife Investment Management (Japan) Ltd. “Issuers with a track record and exposure to Japan offer reassurance, making it easier for investors to participate.”
Apart from pesky issues with the spacecraft's toilet and waste disposal system , most of the Artemis II mission has proceeded like clockwork. NASA has made few changes to the flight plan since the launch of the lunar flyby mission April 1. But ground controllers revamped the timeline Wednesday as the Artemis II astronauts zoomed toward Earth after a close encounter with the Moon earlier this week....
Apart from pesky issues with the spacecraft's toilet and waste disposal system , most of the Artemis II mission has proceeded like clockwork. NASA has made few changes to the flight plan since the launch of the lunar flyby mission April 1. But ground controllers revamped the timeline Wednesday as the Artemis II astronauts zoomed toward Earth after a close encounter with the Moon earlier this week. The four astronauts were supposed to take manual control of their Orion spacecraft, named Integrity, for a piloting demonstration Wednesday night. Instead, mission managers canceled the demo to make time for an additional test of the ship's propulsion system. The goal was to gather data on a "small leak" of helium gas, which Orion uses to push propellant through a series of tanks and pipes to feed the spacecraft's rocket engines, said Jeff Radigan, NASA's lead flight director for the Artemis II mission. Read full article Comments
Turns Out the Elites Like The Administrative State Better Than Democracy Authored by William L. Anderson via MisesInstitute , If there is a mantra among progressive American political and media elites, it would be “our democracy,” usually preceded by what they believe to be a threat from the Right. For example, progressives deemed the recent reversal of Roe “a threat to our democracy” because it r...
Turns Out the Elites Like The Administrative State Better Than Democracy Authored by William L. Anderson via MisesInstitute , If there is a mantra among progressive American political and media elites, it would be “our democracy,” usually preceded by what they believe to be a threat from the Right. For example, progressives deemed the recent reversal of Roe “a threat to our democracy” because it removed laws regulating abortion from Supreme Court jurisdiction and returned the issue to democratically elected legislatures. It would seem inconsistent to invoke the democratic electoral process to deal with a contentious issue like abortion, but progressives are nothing if not inconsistent. But even in challenging logic on political issues, progressives at least try to stick to the language of democracy, and especially the language of “ our democracy.” However, occasionally progressive elites demonstrate their contempt for democracy because they realize that the democratic process is not going to have the desired progressive results because voters and their representatives do not want to knowingly harm themselves. Recently, the New York Times , in a progressive moment of truth, reacted to the US Supreme Court’s decision in West Virginia v. EPA , in which the court ruled that because carbon dioxide is not among the pollutants regulated by the 1990 Clean Air Act Amendments, the Environmental Protection Agency could not enforce CO2 emissions rules for electric power plants. In its 6–3 ruling, the SCOTUS indicated that Congress was free to pass legislation to regulate carbon dioxide but that the EPA was not free to simply add it to its list of regulated power plant emissions on its own . In other words, the high court declared that democratically elected members of the US House and Senate are free to write (and pass) any anti–climate change legislation they choose. This is what the ancients once called democracy. Not surprisingly, the NYT went ballistic, and in so doing expo...
A rare dislocation in China’s money markets is pointing to a buildup of liquidity, which analysts say is a sign of slowing credit growth. The overnight repo rate has sunk to a near three-year low, widening its gap with the People Bank of China’s de-facto seven-day policy rate to the widest since September 2024. The spread suggests that banks are flush with cash. The divergence has caught traders a...
A rare dislocation in China’s money markets is pointing to a buildup of liquidity, which analysts say is a sign of slowing credit growth. The overnight repo rate has sunk to a near three-year low, widening its gap with the People Bank of China’s de-facto seven-day policy rate to the widest since September 2024. The spread suggests that banks are flush with cash. The divergence has caught traders and analysts off-guard given that the PBOC has taken steps to drain cash from the banking system. Instead of tightening, the widening spread suggests waning demand for funds as banks struggle to channel that cash into productive lending. The mismatch is emerging at a time when market watchers are looking for signs of increased fiscal spending and loan issuance to offset oil-driven growth headwinds, deepening concerns that surplus liquidity is becoming a new headache for an already fragile economy. “Appetite for loans, or credit demand from the real economy, has been very weak, leading to soft nominal economic growth,” according to Kelvin Lam , senior China economist at Pantheon Macroeconomics. Market rates are falling as weak loan demand leaves banks with excess cash that could otherwise go into deposits, he added. Under normal circumstances, China’s central bank uses a range of tools to fine-tune liquidity in financial markets. But during weak economic cycles, it must also straddle the line of maintaining an accommodative policy stance while avoiding an excessive drop in borrowing costs that could risk asset bubbles. Excess liquidity is spilling over into other parts of the financial system. The one-year yield on banks’ negotiable certificate of deposits onshore — a popular funding instrument — slid to a record low just this week. The dynamic has heightened concerns among analysts about potential fallout for the broad economy, including a loss of momentum in China’s credit expansion from earlier this year. Liu Jie , an analyst at Tianfeng Securities, warned that it’s possib...
格隆汇4月10日｜美国联邦通讯委员会(FCC)表示，拟禁止中国三大电讯公司在美国运营数据中心，并禁止其他运营商在美国与这些公司建立互联。 FCC初步结论认为，应禁止在美国运营的美国及其他电讯运营商与“受控清单”(Covered List)上的公司进行互联，指这些公司存在国家安全隐患，其中包括中国移动、中国电讯和中国联通。FCC考虑禁止拥有数据中心或存在点(Points of Presence，Po...
格隆汇4月10日｜美国联邦通讯委员会(FCC)表示，拟禁止中国三大电讯公司在美国运营数据中心，并禁止其他运营商在美国与这些公司建立互联。 FCC初步结论认为，应禁止在美国运营的美国及其他电讯运营商与“受控清单”(Covered List)上的公司进行互联，指这些公司存在国家安全隐患，其中包括中国移动、中国电讯和中国联通。FCC考虑禁止拥有数据中心或存在点(Points of Presence，PoP)的中国电讯公司与其他企业进行互联，又研究将禁止提供美国电讯服务的范围扩大至国家安全名单上一些公司的关联企业，还可能禁止电讯运营商与那些安装“受控清单”上企业设备的公司进行互联，这些设备供应商包括华为和中兴通讯。FCC计划在4月30日的会议上就该提桉进行初步表决。
A number of stocks fell in the morning session after reports of a ceasefire breach in the Middle East spiked market volatility as fears grew that a fragile U.S.-Iran truce would unravel.
A number of stocks fell in the morning session after reports of a ceasefire breach in the Middle East spiked market volatility as fears grew that a fragile U.S.-Iran truce would unravel.