The cost of insuring Asian investment-grade debt against default fell the most in 11 months amid signs the Middle-East conflict may be nearing an end. Credit-default swaps on such debt dropped by at least seven basis points, according to traders, putting a Markit index for the securities on track for its biggest one-day decline since May. At the same time, the yield premiums on high-grade Asian bo...
The cost of insuring Asian investment-grade debt against default fell the most in 11 months amid signs the Middle-East conflict may be nearing an end. Credit-default swaps on such debt dropped by at least seven basis points, according to traders, putting a Markit index for the securities on track for its biggest one-day decline since May. At the same time, the yield premiums on high-grade Asian bonds narrowed by at least one basis point, the traders said, set for the first drop in four days, according to a Bloomberg index . Risk appetite improved after US President Donald Trump said on Tuesday he foresaw ending the war on Iran within two to three weeks, suggesting the US had largely accomplished its military goals. Wednesday’s rebound in Asian credit markets followed a selloff in March when the escalating Iran war sapped risk sentiment. The Markit CDS index had it biggest monthly increase since August 2023, while the average yield premium on Asian debt widened by the most since April 2025. “There seems to be a desire on all sides to downgrade the conflict,” said Rajeev De Mello , a global macro portfolio manager at Gama Asset Management. “Asia CDS are reflecting this moderation. Unless there is a flaring up of attacks and rhetoric, I see this move as the start of a normalization in CDS markets.”
Getty Images By Jennifer Nash Job openings fell more than expected in February, settling at 6.882 million vacancies, according to the latest Job Openings and Labor Turnover Survey (JOLTS). This represents a decrease of 358,000 from the previous month, the largest monthly decline since September 2024. The latest reading was lower than the expected 6.890 million vacancies. From the press release : T...
Getty Images By Jennifer Nash Job openings fell more than expected in February, settling at 6.882 million vacancies, according to the latest Job Openings and Labor Turnover Survey (JOLTS). This represents a decrease of 358,000 from the previous month, the largest monthly decline since September 2024. The latest reading was lower than the expected 6.890 million vacancies. From the press release : The number of job openings was little changed at 6.9 million in February, the U.S. Bureau of Labor Statistics reported today. Over the month, hires decreased to 4.8 million, and total separations changed little at 5.0 million. Within separations, quits (3.0 million) were little changed while layoffs and discharges (1.7 million) were unchanged. Background on JOLTS (Job Openings and Labor Turnover) The JOLTS report is a monthly survey released by the BLS that tracks job openings, hiring, and separations (quits, layoffs, and discharges). Unlike the unemployment rate, which measures labor supply, JOLTS data helps gauge labor demand. An increase in job openings is generally a positive sign, indicating ample job opportunities. The chart below displays the monthly data for the four components of the JOLTS series. Due to their volatility, six-month moving averages are included to highlight trends. The moving average for job openings remained above hires for over five years starting in 2015. It briefly dipped below hires in May and June 2020 but rebounded above in July 2020. From mid-2022 to September 2024, job openings, hires, and quits all declined, with job openings showing the steepest drop. However, since September 2024, hires and quits have stabilized. Meanwhile, job openings have continued their downward trend, while layoffs/discharges have gradually risen since mid-2022. Jobs Report vs. JOLTS JOLTS data lags the BLS employment report by one month. As a reminder, 92,000 jobs were lost in February, and the unemployment rate was at 4.4%. For comparison, here is the monthly BLS E...
Earnings Call Insights: nCino (NCNO) Q4 fiscal 2026 Management View “We exceeded our financial guidance across every key metric and delivered an exceptional ACV result, up 17% year-over-year,” with CEO Sean Desmond framing the outperformance as “largely driven by customers embracing our AI strategy and product innovation” (CEO, President & Director Sean Desmond). AI commercialization and adoption ...
Earnings Call Insights: nCino (NCNO) Q4 fiscal 2026 Management View “We exceeded our financial guidance across every key metric and delivered an exceptional ACV result, up 17% year-over-year,” with CEO Sean Desmond framing the outperformance as “largely driven by customers embracing our AI strategy and product innovation” (CEO, President & Director Sean Desmond). AI commercialization and adoption was a core theme, with Desmond stating that “over 170 customers…have already purchased AI intelligence units as of the end of fiscal '26,” and adding, “we believe nCino is rapidly becoming the de facto AI platform for financial institutions across the globe” (CEO Desmond). International and enterprise momentum were highlighted through deal callouts, including: “in the U.S. enterprise market, we delivered our best sales quarter in over 4 years,” a “marquee net new customer win in Austria,” and “the fourth quarter signing of one of the largest banks in the world for a commercial lending transformation” in Japan (CEO Desmond). A key go-to-market change was announced: “nCino has hired Keith Kettell as our new Chief Revenue Officer,” as Desmond said the company is “further investing in our go-to-market organization” (CEO Desmond). CFO Greg Orenstein reported Q4 financials and profitability expansion, stating, “Total revenues were $149.7 million,” “subscription revenues were $133.4 million,” and “non-GAAP operating income…was $34.7 million or 23% of total revenues” (CFO & Treasurer Gregory D. Orenstein). Outlook Q1 fiscal 2027 guidance was set at “total revenues of $154.5 million to $156.5 million” and “subscription revenues of $137 million to $139 million,” with “non-GAAP operating income…approximately $38 million to $40 million” (CFO Orenstein). Based on the provided estimates, Q1 revenue guidance of $154.5 million to $156.5 million vs. $152,743,800.0 (analysts’ estimate). nCino did not provide EPS guidance in the current transcript, so no EPS comparison was included. For fisca...
US president says responsibility for reopening strait of Hormuz rests on countries relying on it; secretary of state says Washington must review whether Nato alliance is still serving the US well ‘Get your own oil’: Trump launches tirade against Europe for not joining Iran war Hello and welcome to our continuing coverage of the US-Israel war on Iran and the wider repercussions throughout the Middl...
US president says responsibility for reopening strait of Hormuz rests on countries relying on it; secretary of state says Washington must review whether Nato alliance is still serving the US well ‘Get your own oil’: Trump launches tirade against Europe for not joining Iran war Hello and welcome to our continuing coverage of the US-Israel war on Iran and the wider repercussions throughout the Middle East and globally. Donald Trump said on Tuesday that US forces would end operations in Iran “very soon,” suggesting a timeline of two to three weeks . The US president also told reporters that the responsibility for keeping the strait of Hormuz open will rest with countries that rely on it. “That’s not for us … That’ll be for whoever’s using the strait,” he said. Two-thirds of Americans believe that the US should work to end its involvement in the Iran war quickly, even if that means not achieving the goals set out by the Trump administration , a Reuters/Ipsos poll has found. Asian markets rose sharply early on Wednesday after US stocks soared to their best day in almost a year on renewed hopes that the Iran war could soon end. South Korea’s Kospi surged 6.4% in early trading, while Tokyo’s Nikkei 225 rose 4%. Hong Kong’s Hang Seng was up 1.9%, while the Shanghai Composite index was trading 1.4% higher. Thousands of additional US troops are heading to the Middle East. The aircraft carrier USS George HW Bush deployed on Tuesday and is slated to travel to the region along with three destroyers, two US officials said. The carrier strike group consists of more than 6,000 personnel. The Israeli military said on Wednesday it had identified the launch of a missile from Yemen towards Israel . It said defence systems were operating to intercept the missile. Iran’s state broadcaster IRIB said areas in northern, eastern and central Tehran were under attack on Wednesday morning. The broadcaster said on Telegram that explosions were heard in the capital’s north, east and centre, repor...