juvaida khatun/iStock via Getty Images The U.S. high-yield market delivered its third consecutive year of total returns over 8% in 2025. While the fourth quarter's return was more muted and spread volatility increased, overall spreads continued to trend lower. Fund strategy Concentrates on the high level of current income that high-yield bonds offer and that has historically driven a significant p...
juvaida khatun/iStock via Getty Images The U.S. high-yield market delivered its third consecutive year of total returns over 8% in 2025. While the fourth quarter's return was more muted and spread volatility increased, overall spreads continued to trend lower. Fund strategy Concentrates on the high level of current income that high-yield bonds offer and that has historically driven a significant portion of their total return Leads with straightforward investing in the high-yield market so investors know what they're invested in; drives alpha through security selection rather than relying on out-of-index allocations to boost income or returns Assesses the trade-off between risk and relative value using a time-tested, proprietary process conducted by a team of high-yield specialists Fund performance Columbia High Yield Bond Fund Institutional Class ( CHYZX ) shares returned 1.34% for the quarter ending December 31, 2025. The fund's benchmark, the ICE BofA US Cash Pay High Yield Constrained Index (the benchmark), returned 1.36% for the same period. Monthly fund performance is available online at columbiathreadneedleus.com. Market overview The ICE BofA US Cash Pay High Yield Constrained Index (the benchmark) returned 1.36% during the fourth quarter. Lower-quality issuers underperformed notably with BB, B and CCC rated issues returning 1.58%, 1.52% and -0.23%, respectively. Overall spreads ended 5 basis points (bps) tighter. (A basis point is 1/100 of a percent.) Fourth-quarter total returns were positive, albeit coupon-driven, as spreads and interest rates were little changed. This marks the thirteenth consecutive quarter of positive high-yield market returns, the longest streak since the inception of the index in 1996. The modestly positive total return masks intra-quarter volatility, as idiosyncratic credit loss events in other asset classes (i.e., bank loans and structured credit) drove spreads sharply wider to begin the quarter. Spreads subsequently recovered but wi...
Anna Edwards, Tom Mackenzie and Morwenna Coniam break down today's key themes for analysts and investors on "Bloomberg: The Opening Trade." (Source: Bloomberg)
Anna Edwards, Tom Mackenzie and Morwenna Coniam break down today's key themes for analysts and investors on "Bloomberg: The Opening Trade." (Source: Bloomberg)
Chinese conglomerate Fosun International Ltd. has secured a refinancing loan package of around $500 million despite recently warning that its preliminary annual loss could widen by as much as fivefold. HSBC Holdings Plc, JPMorgan Chase & Co. and Natixis are among the dozen foreign lenders participating in the three-year facility, according to a document reviewed by Bloomberg News. Several banks fr...
Chinese conglomerate Fosun International Ltd. has secured a refinancing loan package of around $500 million despite recently warning that its preliminary annual loss could widen by as much as fivefold. HSBC Holdings Plc, JPMorgan Chase & Co. and Natixis are among the dozen foreign lenders participating in the three-year facility, according to a document reviewed by Bloomberg News. Several banks from the previous lending group have not joined the latest deal, the document shows, though talks are ongoing and the loan could be upsized via a greenshoe option later, a person familiar with the matter said. Proceeds from the multi-currency loan will be used to refinance Fosun’s $520 million loan, according to people familiar with the matter. Earlier this month, management had told investors it plans to prepay the April-due loan by the end of March, the people said, asking not to be identified discussing private matters. Fosun, HSBC and Natixis didn’t immediately respond to requests for comment. JPMorgan declined to comment. Backed by billionaire Guo Guangchang , the Shanghai-based firm’s fundraising effort has been closely watched by investors, particularly after it shocked the market earlier this month by warning of a preliminary net loss of up to 23.5 billion yuan ($3.4 billion) for 2025. That would be a jump from a 4.4 billion yuan loss a year earlier. The loss warning sent the company’s Hong Kong-listed shares down by nearly 5% in early trading on March 9, though the stock rebounded after a separate filing showed controlling shareholders planned to increase their stakes through open-market purchases. One key driver to Fosun’s hefty loss is the property business under its retail arm Shanghai Yuyuan Tourist Mart Group Co., which accounted for about 55% of the impairment. Yuyuan’s residential projects underperformed, while Fosun also booked charges on goodwill and intangibles from non-core business. Fosun has solid financial access, exhibits strong willingness to repay bo...
Bangladesh is seeking about $2 billion in loans from multilateral lenders by June as the new government looks to finance imports of liquefied natural gas and other fuels during the summer, according to people familiar with the matter. Prime Minister Tarique Rahman’s administration expects to receive $1.3 billion from the International Monetary Fund under an existing program, along with about $700 ...
Bangladesh is seeking about $2 billion in loans from multilateral lenders by June as the new government looks to finance imports of liquefied natural gas and other fuels during the summer, according to people familiar with the matter. Prime Minister Tarique Rahman’s administration expects to receive $1.3 billion from the International Monetary Fund under an existing program, along with about $700 million from the Asian Development Bank, according to the people, who asked not to be identified as the talks are private. The funds are part of a broader strategy to ensure uninterrupted power supplies during the summer without raising domestic prices. They will also help ease pressure on foreign exchange reserves. Rashed Al Mahmud Titumir, the prime minister’s adviser on finance and planning, confirmed the talks are ongoing but declined to disclose the amount being discussed. “We’re negotiating an interest rate which is a bit lower than the market rate,” he said. “There is reasonable progress with the Asian Development Bank, so we will definitely get that. We’ll likely get the IMF as well.” The Ministry of Finance did not immediately respond to a request for comment. Bangladesh spends roughly $12 billion annually on energy imports, including crude oil, liquefied natural gas, liquefied petroleum gas and coal, according to government data. LNG is the fastest-growing component of the country’s energy bill. In 2025, Bangladesh spent about $4 billion to import 109 LNG cargoes, up from about $3 billion for 86 cargoes in 2024. Rising global prices remain a key risk for the nation. If oil, gas and coal prices stay at current elevated levels, Bangladesh’s annual fossil fuel import bill could increase by $4.8 billion — about 40% higher than 2025 levels, according to Zero Carbon Analytics.
Coastline Trust Co increased its holdings in Micron Technology, Inc. (NASDAQ:MU - Free Report) by 4,473.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 7,089 shares of the semiconductor manufacturer's stock after buying an additional 6,934 shares during the quarter. Coastline Trust Co's holdings in Mic...
Coastline Trust Co increased its holdings in Micron Technology, Inc. (NASDAQ:MU - Free Report) by 4,473.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 7,089 shares of the semiconductor manufacturer's stock after buying an additional 6,934 shares during the quarter. Coastline Trust Co's holdings in Micron Technology were worth $2,023,000 at the end of the most recent reporting period. Other large investors also recently added to or reduced their stakes in the company. GK Wealth Management LLC raised its position in Micron Technology by 44.5% in the fourth quarter. GK Wealth Management LLC now owns 3,846 shares of the semiconductor manufacturer's stock worth $1,098,000 after acquiring an additional 1,185 shares during the period. Union Bancaire Privee UBP SA grew its position in shares of Micron Technology by 3,502.8% during the 4th quarter. Union Bancaire Privee UBP SA now owns 140,510 shares of the semiconductor manufacturer's stock valued at $40,107,000 after acquiring an additional 136,610 shares during the period. GAMMA Investing LLC increased its stake in shares of Micron Technology by 14.7% in the 4th quarter. GAMMA Investing LLC now owns 23,811 shares of the semiconductor manufacturer's stock worth $6,796,000 after purchasing an additional 3,053 shares in the last quarter. Triumph Capital Management increased its stake in shares of Micron Technology by 21.4% in the 3rd quarter. Triumph Capital Management now owns 3,267 shares of the semiconductor manufacturer's stock worth $547,000 after purchasing an additional 576 shares in the last quarter. Finally, AIA Group Ltd raised its holdings in Micron Technology by 82.9% in the 3rd quarter. AIA Group Ltd now owns 113,646 shares of the semiconductor manufacturer's stock worth $19,015,000 after purchasing an additional 51,494 shares during the period. 80.84% of the stock is currently owned by institutional investors. Get ...
SMCI tumbles as U.S. alleges NVDA chips sent to China A federal indictment naming Super Micro Computer co-founder and senior vice president Yih-Shyan Wally Liaw as part of a scheme to divert advanced Nvidia accelerators to China jolted AI hardware stocks, sending SMCI lower and sharpening scrutiny on Nvidia’s export pipeline. Prosecutors allege the group used fabricated documents and a pass-throug...
SMCI tumbles as U.S. alleges NVDA chips sent to China A federal indictment naming Super Micro Computer co-founder and senior vice president Yih-Shyan Wally Liaw as part of a scheme to divert advanced Nvidia accelerators to China jolted AI hardware stocks, sending SMCI lower and sharpening scrutiny on Nvidia’s export pipeline. Prosecutors allege the group used fabricated documents and a pass-through firm to steer at least $510 million worth of servers into China between 2024 and 2025 in violation of U.S. export controls. Super Micro itself was not charged. The company condemned the alleged conduct as contrary to its policies and compliance controls. The case lands as Washington tightens the screws on AI chip flows and investors reassess how much gray-market risk is embedded in the AI trade. The indictment and alleged scheme According to the Justice Department, three individuals, including Liaw, conspired to move high-end servers equipped with Nvidia’s advanced AI chips into China despite escalating U.S. restrictions. The charging documents outline a playbook familiar to export-control enforcers: falsified paperwork, misrepresented end-users, and a middleman company to obscure the ultimate destination. The government says at least $510 million in servers were diverted over roughly two years, underscoring both the scale of Chinese demand for cutting-edge compute and the permeability of global supply chains when incentives collide with compliance. Nvidia’s most capable data center accelerators are restricted for China under rules tightened multiple times since late 2023. The case, if proven, shows how fast enforcement has had to evolve as AI demand surges. Super Micro’s response and compliance overhang Super Micro said the alleged conduct runs counter to its policies, calling out efforts to circumvent applicable export control laws and regulations. The company itself is not named in the indictment, which limits immediate legal exposure. Still, with a co-founder and seni...
London ( UKX ) +0.50% to 10,113. UK public sector net borrowing rose to £14.3B in February 2026 from £12.1B in the same month last year, exceeding expectations of £8.5B. Germany ( DAX:IND ) +1.23% to 23,111. Producer prices in Germany declined 3.3% Y/Y February. France ( CAC:IND ) +0.86% to 7,869. In other parts of Europe, the manufacturing confidence indicator in Denmark rose to 94 in March. The ...
London ( UKX ) +0.50% to 10,113. UK public sector net borrowing rose to £14.3B in February 2026 from £12.1B in the same month last year, exceeding expectations of £8.5B. Germany ( DAX:IND ) +1.23% to 23,111. Producer prices in Germany declined 3.3% Y/Y February. France ( CAC:IND ) +0.86% to 7,869. In other parts of Europe, the manufacturing confidence indicator in Denmark rose to 94 in March. The pan-European Stoxx 600 ( STOXX ) moved 0.70% higher to 587.7. T he rebound was supported by declining oil prices and followed sharp losses in the previous session, when cautious messaging from central banks across the region dampened investor sentiment. UK natural gas futures dropped to around 150 pence per therm, pulling back from a more than three-year high. Brent crude futures fell toward $108 per barrel on Friday after surging above $113 in the previous session. Coming up in the session: Euro Area trade balance. In the bond market , the U.S. 10-year Treasury yield was down 1 basis point to 4.27%. Germany's 10-year yield was down 1 basis point to 2.95%. UK's 10-year yield was up 1 basis point to 4.85%. 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 Technical Levels For Major FX Pairs Ahead Of The FOMC U.S. Tariffs: A New Trade War? EWG: Amid Fracturing Global Order, Germany Must Rise To The Occasion ECB keeps key interest rates unchanged, committed to 2% inflation target Bank of England holds rates at 3.75% amid rising inflation risks from Middle East conflict
wildpixel/iStock via Getty Images By Benjamin Schroeder , Senior Rates Strategist | Michiel Tukker , Senior European Rates Strategist Aggressive front-end pricing might overstate how quickly the European Central Bank can act The impression that yesterday's European Central Bank meeting left – given the magnitude of events – was a relatively balanced one amid this environment of high uncertainty. U...
wildpixel/iStock via Getty Images By Benjamin Schroeder , Senior Rates Strategist | Michiel Tukker , Senior European Rates Strategist Aggressive front-end pricing might overstate how quickly the European Central Bank can act The impression that yesterday's European Central Bank meeting left – given the magnitude of events – was a relatively balanced one amid this environment of high uncertainty. Unsurprisingly, there was an acknowledgement of the increased upside inflation risks, but also of the downside risks to growth. Importantly, without really passing judgement as to what will hold more weight at this juncture. There is a clear readiness to act, however, which itself is a hawkish shift in the ECB’s stance. And President Christine Lagarde highlighted that the ECB will monitor everything from supply bottlenecks and firms' price-setting intentions to wage developments to determine the pass-through of the shock. Lagarde stood by a data-dependent and meeting-by-meeting approach to assess the ECB’s appropriate policy stance. While the ECB did not seem to signal imminent action at its meeting, subsequent press reports suggested that some officials were ready to raise rates as soon as April. The market is now fully discounting two hikes and the possibility of more this year. The upcoming April meeting has an implied probability of a 25bp hike of over 60%. But at the same time, markets do not set prices in a vacuum, and we saw, for instance, that just prior to the ECB meeting, markets digested a surprisingly hawkish Bank of England that also dragged up EUR rates – highlighting again that there is some element of positioning in play as well, and that market pricing should not be taken entirely at face value. For now, oil prices and geopolitical developments will remain in the driving seat. That is until we reach a tipping point where adverse risk sentiment takes over. What we did observe was that the long end has had a greater struggle to keep pace with the rise in short...
When it comes to investing in the stock market, talk is often cheap. Forecasts from management teams are often viewed skeptically, and shareholders are typically not enthusiastic about buying a stock if they don't see a management team with skin in the game. That said, when management or a chief executive officer does purchase a material amount of their company's stock, it can be viewed as a stron...
When it comes to investing in the stock market, talk is often cheap. Forecasts from management teams are often viewed skeptically, and shareholders are typically not enthusiastic about buying a stock if they don't see a management team with skin in the game. That said, when management or a chief executive officer does purchase a material amount of their company's stock, it can be viewed as a strong signal to shareholders that management is confident in what they are doing. Why else burn their own money? Recently, new Berkshire Hathaway (NYSE: BRKA) (BRKB 0.62%) CEO Greg Abel sent Wall Street an undeniable signal about the company's stock. It couldn't be any clearer. Double-dipping Abel took the reins of Berkshire at the start of this year, stepping into the big shoes left by Warren Buffett, who ran the sprawling conglomerate for roughly six decades and is widely considered the best value investor of all time. During his tenure, Buffett turned Berkshire into one of the largest insurance companies in the U.S. and built huge businesses in energy and mortgages, among others. Buffett also increased Berkshire's stock portfolio to more than $300 billion in total value and built up a hoard of cash and short-term U.S. Treasury bonds, valued at close to $370 billion at the end of 2025. Despite leaving the company in strong shape, Berkshire's stock has not been a great performer recently since Buffett announced his retirement. The stock has declined about 7% during the past year while the S&P 500 index rose almost 17%. Although nobody expects Abel to be another Buffett, the Oracle of Omaha handpicked Abel to succeed him. Abel previously served as the chairman and CEO of Berkshire Hathaway Energy. As the year kicked off, Abel became more visible, first with an 18-page letter to shareholders that outlined how he plans to run the company. Soon after that, Abel gave Wall Street an undeniable signal that couldn't have been clearer. Expand NYSE : BRKB Berkshire Hathaway Today's Chan...
Oracle (ORCL +1.81%) investors got some hopeful news last week after the company released its fiscal 2026 third-quarter results (for the three months ended Feb. 28). Shares of the tech giant rose more than 9% on March 11, the day after the release. It's worth noting that Oracle stock has lost 49% of its value in the past six months, owing to multiple concerns, including a reliance on OpenAI for a ...
Oracle (ORCL +1.81%) investors got some hopeful news last week after the company released its fiscal 2026 third-quarter results (for the three months ended Feb. 28). Shares of the tech giant rose more than 9% on March 11, the day after the release. It's worth noting that Oracle stock has lost 49% of its value in the past six months, owing to multiple concerns, including a reliance on OpenAI for a significant share of its contractual backlog and taking on sizable debt to build artificial intelligence (AI) data centers. However, those concerns took a backseat after Oracle's beat-and-raise quarterly report. Let's see what worked for Oracle last quarter. Then, let's take a closer look at its valuation to find out if it's too late to invest in this AI stock that has the potential to soar impressively for the rest of the year. Oracle is being smart with its AI hardware spending Oracle's quarterly revenue jumped 22% year over year to $17.2 billion, exceeding the $16.9 billion Wall Street estimate. The company's non-GAAP earnings growth of 21% to $1.79 was a bigger surprise, as analysts would have settled for $1.70 per share. The company's cloud infrastructure business also outperformed expectations, with revenue increasing by 84% year over year to $4.9 billion. That was higher than the $4.74 billion consensus expectation. Even better, Oracle's cloud infrastructure business is likely to continue growing at a terrific pace in the future. Its remaining performance obligations (RPO) jumped a whopping 325% year over year in the quarter to $553 billion. RPO is a forward-looking revenue metric that refers to contracts the company has yet to fulfill. The massive increase in the RPO last quarter suggests that Oracle's future revenue pipeline is stronger than before, as more companies look to run AI workloads on its cloud infrastructure. Expand NYSE : ORCL Oracle Today's Change ( 1.81 %) $ 2.77 Current Price $ 155.67 Key Data Points Market Cap $447B Day's Range $ 148.89 - $ 156.90 5...
Key Points New Berkshire Hathaway CEO Greg Abel did two things in March that should give shareholders confidence in Berkshire Hathaway stock. The stock has been in transition since former Warren Buffett said he would step down from the CEO role last year. 10 stocks we like better than Berkshire Hathaway › When it comes to investing in the stock market, talk is often cheap. Forecasts from managemen...
Key Points New Berkshire Hathaway CEO Greg Abel did two things in March that should give shareholders confidence in Berkshire Hathaway stock. The stock has been in transition since former Warren Buffett said he would step down from the CEO role last year. 10 stocks we like better than Berkshire Hathaway › When it comes to investing in the stock market, talk is often cheap. Forecasts from management teams are often viewed skeptically, and shareholders are typically not enthusiastic about buying a stock if they don't see a management team with skin in the game. That said, when management or a chief executive officer does purchase a material amount of their company's stock, it can be viewed as a strong signal to shareholders that management is confident in what they are doing. Why else burn their own money? Will AI create the world's first trillionaire? Our team just released a report on the one little-known company, called an "Indispensable Monopoly" providing the critical technology Nvidia and Intel both need. Continue » Recently, new Berkshire Hathaway (NYSE: BRKA) (NYSE: BRKB) CEO Greg Abel sent Wall Street an undeniable signal about the company's stock. It couldn't be any clearer. Double-dipping Abel took the reins of Berkshire at the start of this year, stepping into the big shoes left by Warren Buffett, who ran the sprawling conglomerate for roughly six decades and is widely considered the best value investor of all time. During his tenure, Buffett turned Berkshire into one of the largest insurance companies in the U.S. and built huge businesses in energy and mortgages, among others. Buffett also increased Berkshire's stock portfolio to more than $300 billion in total value and built up a hoard of cash and short-term U.S. Treasury bonds, valued at close to $370 billion at the end of 2025. Despite leaving the company in strong shape, Berkshire's stock has not been a great performer recently since Buffett announced his retirement. The stock has declined about 7% d...
Amazon Pay acts as a registered corporate agent for these insurance products and does not underwrite the policies itself. Credit: Suvetha Sukumar/Shutterstock.com. Amazon Pay has extended its vehicle insurance services to reach around 280 million vehicle owners in India. The coverage includes approximately 250 million two-wheeler users and 30 million car owners. The insurance can be accessed throu...
Amazon Pay acts as a registered corporate agent for these insurance products and does not underwrite the policies itself. Credit: Suvetha Sukumar/Shutterstock.com. Amazon Pay has extended its vehicle insurance services to reach around 280 million vehicle owners in India. The coverage includes approximately 250 million two-wheeler users and 30 million car owners. The insurance can be accessed through the Amazon app, in partnership with HDFC ERGO, ACKO and ICICI Lombard. The offering is available nationwide, covering metropolitan areas as well as tier two and tier three cities such as Alwar, Bharatpur, Coimbatore, Gwalior, Jamshedpur, Jhansi, Kota, Sambalpur and Udupi. Users can obtain quotes by providing their vehicle registration number and choose their desired coverage level before completing the purchase digitally. For two-wheelers, no physical inspection is required and policies are issued within minutes. Claims are processed cashlessly at more than 9,000 network garages across India, subject to the insurer’s terms. The platform enables users to compare premiums from different insurers and select their preferred plan. Prime members can access exclusive discounts on premiums offered by insurers. Customers may also opt for additional cover options as needed. Payment methods include Amazon Pay balance, UPI or stored cards. Cashback is available through Amazon Pay. Purchased policies are immediately accessible via the Amazon orders page and are also sent by email. Amazon Pay acts as a registered corporate agent for these insurance products and does not underwrite the policies itself. Amazon Pay India CEO Vikas Bansal said: “Amazon Pay strives to innovate for every Indian, simplifying lives and fulfilling aspirations by solving for their payment and financial needs. “Our latest expansion of the vehicle insurance portfolio is a direct reflection of that commitment. With more than 70% of India’s registered two-wheelers uninsured, we are focused on driving deeper insuran...