MarsYu/iStock via Getty Images In the 1986 hit movie Ferris Bueller's Day Off , Matthew Broderick famously says, "Life moves pretty fast. If you don't stop and look around once in a while, you could miss it." The same could be said for China’s capital markets, as things can evolve quickly, especially when global investors are not paying attention. Since September 2024, we have seen a significant i...
MarsYu/iStock via Getty Images In the 1986 hit movie Ferris Bueller's Day Off , Matthew Broderick famously says, "Life moves pretty fast. If you don't stop and look around once in a while, you could miss it." The same could be said for China’s capital markets, as things can evolve quickly, especially when global investors are not paying attention. Since September 2024, we have seen a significant increase in trading volumes and IPOs in Hong Kong and Mainland China. However, these changes have largely flown under the radar for US and global investors. As US equities have outperformed non-US equities since the Global Financial Crisis (GFC), global investors have become laser-focused on US equities. A major factor in this outperformance has been US equities' overweight to technology stocks and other growth factors, compared to a relative underweight to these factors in many non-US markets, and especially in Emerging Markets. This sector composition disparity between markets was especially stark for China. In 2015, financials, energy, and industrials accounted for over 50% of the MSCI China Index. Meanwhile, the S&P 500 Index already had a significant weight to information technology. Today, the MSCI China Index contains significantly more information technology stocks, reflecting the evolution of China's economy over the last decade. As MSCI China is heavily weighted to offshore China, which we define as Hong Kong and U.S.-listed stocks, this transformation did not hit the Mainland market until recently. In recent years, we have seen a rapid rise in the valuations of onshore-listed semiconductor makers, semiconductor equipment makers, and technology hardware providers, such as electrical equipment suppliers and communications equipment makers. At the same time, Mainland China's markets have been peppered with new listings of high-tech firms. Then, starting in 2022, local investors began to recognize China’s government’s emphasis on raising technology self-reliance in re...
Shares of enterprise software giant Oracle (NYSE:ORCL) fell 8% in the afternoon session after a stronger-than-expected jobs report signaled that the Federal Reserve may keep interest rates higher for longer.
Shares of enterprise software giant Oracle (NYSE:ORCL) fell 8% in the afternoon session after a stronger-than-expected jobs report signaled that the Federal Reserve may keep interest rates higher for longer.
Apollo Global Management (APO) is back in focus after recent commentary on strong revenue trends across its asset management and retirement businesses, combined with a high profile AI compute buildout partnership alongside Broadcom. See our latest analysis for Apollo Global Management. At a share price of US$128.03, Apollo has eased in the short term alongside a year to date share price return tha...
Apollo Global Management (APO) is back in focus after recent commentary on strong revenue trends across its asset management and retirement businesses, combined with a high profile AI compute buildout partnership alongside Broadcom. See our latest analysis for Apollo Global Management. At a share price of US$128.03, Apollo has eased in the short term alongside a year to date share price return that is down 12.67%, while a 3 year total shareholder return of 83.95% and 5 year total shareholder...
Here's Where Electricity Prices Jumped The Most In America Electricity prices are becoming one of the fastest-rising household expenses in parts of America. Using data from the U.S. Energy Information Administration (EIA), this map, via Visual Capitalist's Dorothy Neufeld, shows how residential electricity prices changed across all 50 states over the past year. The differences are striking. Washin...
Here's Where Electricity Prices Jumped The Most In America Electricity prices are becoming one of the fastest-rising household expenses in parts of America. Using data from the U.S. Energy Information Administration (EIA), this map, via Visual Capitalist's Dorothy Neufeld, shows how residential electricity prices changed across all 50 states over the past year. The differences are striking. Washington D.C. saw electricity prices surge 23% year over year, over two times the national average increase of 10%, while several states in the West saw little change or outright declines. Much of the pressure is being driven by rising grid investment costs and growing electricity demand, including from AI-related data center expansion in some regions. Electricity Price Growth by State The following table shows the annual change in average residential electricity prices by state in March 2026. Rank State Annual Change in Residential Electricity Prices Mar 2026 1 District of Columbia 22.5% 2 New Jersey 18.2% 3 New Hampshire 18.0% 4 Maryland 17.2% 5 Ohio 16.6% 6 Virginia 14.5% 7 Washington 14.1% 8 Pennsylvania 13.6% 9 Montana 13.0% 10 Tennessee 12.8% 11 Kentucky 12.7% 12 Idaho 12.4% 13 New York 12.2% 14 South Dakota 12.1% 15 Missouri 11.9% 16 Nebraska 11.9% 17 Mississippi 11.3% 18 Colorado 11.3% 19 Oklahoma 9.6% 20 Michigan 9.6% 21 Wyoming 9.5% 22 Indiana 8.8% 23 Louisiana 8.4% 24 Arkansas 8.3% 25 North Carolina 8.1% 26 Vermont 7.7% 27 South Carolina 7.7% 28 North Dakota 7.6% 29 Iowa 7.5% 30 Illinois 7.5% 31 Texas 7.3% 32 Kansas 7.0% 33 Utah 6.3% 34 Wisconsin 5.9% 35 Delaware 5.6% 36 Alaska 5.4% 37 Alabama 3.6% 38 West Virginia 3.0% 39 Arizona 3.0% 40 Hawaii 2.7% 41 California 2.7% 42 Georgia 2.2% 43 New Mexico 0.2% 44 Maine 0.2% 45 Massachusetts 0.1% 46 Minnesota -0.1% 47 Florida -1.5% 48 Oregon -1.8% 49 Nevada -1.8% 50 Connecticut -6.2% 51 Rhode Island -7.4% -- 🇺🇸 U.S. Average 10.2% Where Electricity Bills Are Surging the Most Electricity prices climbed significantly across muc...
bob_bosewell/iStock via Getty Images Hingham Institution for Savings ( HIFS ) is one of the more peculiar regional banks that I have written about over the last year. The small-cap bank has a geographic footprint that is scattered across the US with six branches in its home state of Massachusetts, one in San Francisco, and one in Washington, DC. With roots dating back to 1834, the bank is one of t...
bob_bosewell/iStock via Getty Images Hingham Institution for Savings ( HIFS ) is one of the more peculiar regional banks that I have written about over the last year. The small-cap bank has a geographic footprint that is scattered across the US with six branches in its home state of Massachusetts, one in San Francisco, and one in Washington, DC. With roots dating back to 1834, the bank is one of the oldest in the US . Hingham is able to offer its customers unlimited deposit insurance thanks to the Massachusetts Depositors Insurance Fund. Since this fund was started in 1934, no depositor has ever lost a penny in any Massachusetts savings or cooperative bank. The company also has some of the highest short interest I have seen on a profitable bank, with the ratio just above 13.6% as I write this analysis. With that kind of pessimism in the market, one might expect there to be large nonperforming loans or major charges taken recently to reposition investment securities. While asset quality is a concern of mine, the situation does not appear to be dire. The bank is not firing on all cylinders, but it does not appear to be on the precipice of failure, either. I have written about the company twice in the last eight months , and I considered HIFS to be a Hold on both occasions . That label has been justified by the stock’s total return of 12.6% during a time when the overall market has produced about the same rate of returns. In this analysis, I will take a look back at the company’s performance from the first three months of this year. I will also explain why there is some pessimism in the market for the company, although I am not sure that I can explain all of it. Based on the bank’s performance, I would still not be a buyer of HIFS at the current time, but I do not see quite enough evidence to rate the stock as a Sell. I am maintaining my neutral rating on the stock for the reasons discussed in this analysis. Company Overview As of June 5, Hingham Institution for Saving...
Key PointsVanguard Short-Term Bond ETF manages $69.9 billion in assets under management (AUM) and features a more conservative risk profile with a lower beta.
Key PointsVanguard Short-Term Bond ETF manages $69.9 billion in assets under management (AUM) and features a more conservative risk profile with a lower beta.