A proposed increase in the Hong Kong government’s borrowing cap for its bond programmes to HK$900 billion (US$115 billion) will be sufficient to finance infrastructure projects over the next three years, officials have said, while leaving the door open to further rises in the long run if needed. Andrew Lai Chi-wah, permanent secretary for financial services and the treasury, made the remarks on Th...
A proposed increase in the Hong Kong government’s borrowing cap for its bond programmes to HK$900 billion (US$115 billion) will be sufficient to finance infrastructure projects over the next three years, officials have said, while leaving the door open to further rises in the long run if needed. Andrew Lai Chi-wah, permanent secretary for financial services and the treasury, made the remarks on Thursday during a Legislative Council subcommittee meeting scrutinising the plan to lift the...
Ildo Frazao/iStock via Getty Images Private markets' software industry lending-related concerns face another upheaval as over $330B of high-yield, leveraged debt and business development company-linked software and technology loans are coming due for repayment through 2028, Bloomberg News reported . A significant portion of the total debt is tied to the private markets, the Thursday, April 9 repor...
Ildo Frazao/iStock via Getty Images Private markets' software industry lending-related concerns face another upheaval as over $330B of high-yield, leveraged debt and business development company-linked software and technology loans are coming due for repayment through 2028, Bloomberg News reported . A significant portion of the total debt is tied to the private markets, the Thursday, April 9 report noted. More than $140B of technology company debt is maturing in 2028. For business development companies, over $31B of software-linked loans are maturing in 2026 itself, said Bloomberg. Companies looking to refinance in the near term face headwinds, with some private credit funds turning away software borrowers outright, people with knowledge of the matter reportedly told Bloomberg. Several software company sales planned by private equity firms have reportedly stalled. The private credit sector, including Apollo Global Management ( APO ), Ares Management ( ARES ), Blackstone ( BX ), Blue Owl Capital Inc. ( OWL ), and KKR ( KKR ), received $20.8B in redemption requests during Q1 2026, according to the Financial Times. The private credit industry grew rapidly after the 2008 financial crisis, as regulators limited the amount of risks big banks could take. Asset managers filled the gap, providing financing to the buyout industry as they attracted investments from pension funds, endowments, and other institutional investors lured by attractive returns. As investments from large institutional investors have slowed, private credit has more recently turned to affluent retail investors to maintain growth. Retail investors, though, aren't as likely to have the long-term investing horizons that institutional investors have and tend to be more unpredictable in requesting redemptions. The recent round of redemption requests underscores concerns over the private credit sector's lending to private equity-backed software companies and the uncertainty those software businesses face as ar...
LD Morgan Stanley, in its analysis of the March FOMC minutes, highlighted a Federal Reserve that is firmly in “wait-and-see” mode as it contends with an increasingly uncertain economic and geopolitical backdrop. While policymakers acknowledged shifts in growth expectations, potential output, and the neutral rate, the central bank offered little detail on the rationale behind these adjustments, lea...
LD Morgan Stanley, in its analysis of the March FOMC minutes, highlighted a Federal Reserve that is firmly in “wait-and-see” mode as it contends with an increasingly uncertain economic and geopolitical backdrop. While policymakers acknowledged shifts in growth expectations, potential output, and the neutral rate, the central bank offered little detail on the rationale behind these adjustments, leaving markets looking ahead for further guidance. The investment bank emphasized that geopolitical tensions in the Middle East are playing a growing role in shaping the policy outlook. Despite persistent concerns around inflation—particularly stemming from elevated oil prices—the firm noted that these developments may ultimately tilt the Fed toward rate cuts rather than hikes. Insights from the minutes also pointed to some divergence among policymakers. A small contingent—likely four to five participants—favored more flexible, two-sided guidance on interest rates, reflecting a willingness to adjust policy in either direction depending on incoming data. While not the dominant view, it signals a meaningful degree of debate within the committee. Although the March press conference struck a relatively hawkish tone, the minutes themselves appeared more balanced, citing both upside risks to inflation and downside risks to employment. Morgan Stanley continues to forecast rate cuts in September and December, while warning that risks remain skewed toward fewer or delayed reductions. Market Tracking ETFs: ( DIA ), ( DDM ), ( DOG ), ( DXD ), ( SDOW ), ( SPY ), ( VOO ), ( IVV ), ( RSP ), ( SSO ), ( UPRO ), ( SH ), ( SDS ), ( SPXU ), ( QQQ ), ( QQQM ), ( TQQQ ), ( QID ), and ( SQQQ ). More on markets Risk-on rally expands: Over 75% of S&P 500 stocks now trade above their 20-day MA VIX falls below 20 for the first time since the conflict began in the Middle East Why this oil rally isn’t crashing stocks—Deutsche Bank breaks it down Cantor Fitzgerald calls the market pullback a buying oppor...
The U.S. government long saw giving international aid as a way to build goodwill throughout the world. Did it work? And what does the reducing of foreign aid mean for that effort now? (Image credit: Ben de la Cruz/NPR)
The U.S. government long saw giving international aid as a way to build goodwill throughout the world. Did it work? And what does the reducing of foreign aid mean for that effort now? (Image credit: Ben de la Cruz/NPR)
US Gulf Coast crude exports are poised to reach a record 5 million barrels per day in May as Asian buyers snap up cargoes from the Atlantic basin to offset the loss of Middle Eastern supply. Crude shipments for April are already inching toward about 4.9 million barrels a day based on current loadings, up from roughly 3.97 million barrels a day in March. Analysts now expect crude flows to push even...
US Gulf Coast crude exports are poised to reach a record 5 million barrels per day in May as Asian buyers snap up cargoes from the Atlantic basin to offset the loss of Middle Eastern supply. Crude shipments for April are already inching toward about 4.9 million barrels a day based on current loadings, up from roughly 3.97 million barrels a day in March. Analysts now expect crude flows to push even higher in May, with increasing numbers of very large crude carriers, or VLCCs, loading from the Gulf Coast. “US crude exports look set to continue the strength we see coming through for April,” said Matt Smith, director of commodity research at Kpler, adding that May exports could break the 5-million-barrel-a-day mark — eclipsing a prior record of 4.5 million — as Asia demand remains high. As the war in the Middle East rages on despite a fragile ceasefire agreement, buyers across the world are grappling with the worst disruption to global energy markets in history. American exports have been critical to help fill the gap, with President Donald Trump pushing for more production as part of his energy dominance agenda. With peak summer demand on the horizon, if exports continue to surge, US refiners will have to cough up more to keep barrels at home. Gasoline prices have already jumped to the highest since 2022 at more than $4 a gallon, and if pump prices rise further, it poses political risks for Trump’s Republican Party in the upcoming midterm elections. Exports have briefly approached 5 million barrels on a weekly basis, according to the Energy Information Administration . However, shipments have yet to sustain that pace on a four-week average, meaning May loadings could mark the first time exports consistently hold near the threshold. Roughly 28 supertankers have already been contracted to carry US crude in May, compared with about five typically at this point in a month, according to analysts. Much of that demand is tied to Asian refiners seeking replacement barrels foll...
jetcityimage/iStock Editorial via Getty Images 2026 is really shaping up to be a difficult year for shareholders of electric vehicle giant Tesla, Inc. ( TSLA ). On April 2nd of this year, the stock dropped 5.4%. This came after management announced deliveries for the first quarter of the 2026 fiscal year that fell short of analysts’ expectations. But this is just the start of the troubles that the...
jetcityimage/iStock Editorial via Getty Images 2026 is really shaping up to be a difficult year for shareholders of electric vehicle giant Tesla, Inc. ( TSLA ). On April 2nd of this year, the stock dropped 5.4%. This came after management announced deliveries for the first quarter of the 2026 fiscal year that fell short of analysts’ expectations. But this is just the start of the troubles that the company is facing. Since I last reaffirmed it as a Strong Sell back in February of this year, the stock has fallen 12%. The S&P 500 ( SP500 ), meanwhile, is down just 4.8% over that window of time. And year to date, shares are down 19.8%. This is, quite honestly, abysmal. What makes matters worse is that this is already coming off of a difficult 2025. Last year, shares were up just 11.4%. But the S&P 500 rose 17.9%. Those who are bullish about the company point to different opportunities, most recently the robotics revolution. As I detailed in my previous article about the company, that is unlikely to save it. The fact of the matter is that the firm still relies heavily on electric vehicles, and that is unlikely to change. Even under rather rosy assumptions, I don't see a scenario where the business is anything other than absurdly overvalued. Add on top of this increasing competitive pressures that have admittedly eased up in recent months as other car companies cut back on their own electric vehicle programs, weak consumer confidence, and the absence now of the $7,500 electric vehicle tax credit that expired in September of last year, and I don't see anywhere but down for the stock from this point on. It is always possible that my opinion on the matter could change as new data comes in. And it just so happens that, after the market closes on April 22nd , management will be announcing financial results for the first quarter of the company's 2026 fiscal year. Overall financial performance is forecasted to improve. But I don't think it will improve enough to justify anything...
jetcityimage/iStock Editorial via Getty Images 2026 is really shaping up to be a difficult year for shareholders of electric vehicle giant Tesla, Inc. ( TSLA ). On April 2nd of this year, the stock dropped 5.4%. This came after management announced deliveries for the first quarter of the 2026 fiscal year that fell short of analysts’ expectations. But this is just the start of the troubles that the...
jetcityimage/iStock Editorial via Getty Images 2026 is really shaping up to be a difficult year for shareholders of electric vehicle giant Tesla, Inc. ( TSLA ). On April 2nd of this year, the stock dropped 5.4%. This came after management announced deliveries for the first quarter of the 2026 fiscal year that fell short of analysts’ expectations. But this is just the start of the troubles that the company is facing. Since I last reaffirmed it as a Strong Sell back in February of this year, the stock has fallen 12%. The S&P 500 ( SP500 ), meanwhile, is down just 4.8% over that window of time. And year to date, shares are down 19.8%. This is, quite honestly, abysmal. What makes matters worse is that this is already coming off of a difficult 2025. Last year, shares were up just 11.4%. But the S&P 500 rose 17.9%. Those who are bullish about the company point to different opportunities, most recently the robotics revolution. As I detailed in my previous article about the company, that is unlikely to save it. The fact of the matter is that the firm still relies heavily on electric vehicles, and that is unlikely to change. Even under rather rosy assumptions, I don't see a scenario where the business is anything other than absurdly overvalued. Add on top of this increasing competitive pressures that have admittedly eased up in recent months as other car companies cut back on their own electric vehicle programs, weak consumer confidence, and the absence now of the $7,500 electric vehicle tax credit that expired in September of last year, and I don't see anywhere but down for the stock from this point on. It is always possible that my opinion on the matter could change as new data comes in. And it just so happens that, after the market closes on April 22nd , management will be announcing financial results for the first quarter of the company's 2026 fiscal year. Overall financial performance is forecasted to improve. But I don't think it will improve enough to justify anything...
Amazon.com Inc. is considering selling its chips to other companies, Chief Executive Officer Andy Jassy said Thursday, adding that the cloud-computing giant’s in-house silicon unit is on pace to bring in more than $20 billion over the course of a year. The disclosure offers a rare glimpse into the scale of Amazon’s in-house chip operation, which produces general-purpose computing and AI accelerato...
Amazon.com Inc. is considering selling its chips to other companies, Chief Executive Officer Andy Jassy said Thursday, adding that the cloud-computing giant’s in-house silicon unit is on pace to bring in more than $20 billion over the course of a year. The disclosure offers a rare glimpse into the scale of Amazon’s in-house chip operation, which produces general-purpose computing and AI accelerators, as well as chips that make the company’s servers run more efficiently. Today, Amazon rents that hardware to customers of Amazon Web Services, the cloud-computing unit. But demand for processors capable of building artificial intelligence models has strained supply and sent companies looking for alternatives to Nvidia Corp.’s market-leading graphics processing units. “There’s so much demand for our chips that it’s quite possible we’ll sell racks of them to third parties in the future,” Jassy said in his annual letter to shareholders. The Amazon chief, who took the reins almost five years ago, said the chip business would have a $50 billion annual run rate if it were an independent business selling semiconductors to AWS customers and other third parties. Jassy also touted Amazon’s $4 billion effort to bring speedy delivery to shoppers in rural America .
(Bloomberg) -- Amazon.com Inc. is considering selling its chips to other companies, Chief Executive Officer Andy Jassy said Thursday, adding that the cloud-computing giant’s in-house silicon unit is on pace to bring in more than $20 billion over the course of a year.The disclosure offers a rare glimpse into the scale of Amazon’s in-house chip operation, which produces general-purpose computing and...
(Bloomberg) -- Amazon.com Inc. is considering selling its chips to other companies, Chief Executive Officer Andy Jassy said Thursday, adding that the cloud-computing giant’s in-house silicon unit is on pace to bring in more than $20 billion over the course of a year.The disclosure offers a rare glimpse into the scale of Amazon’s in-house chip operation, which produces general-purpose computing and AI accelerators, as well as chips that make the company’s servers run more efficiently.Today, Amazo
BlackBerry (NYSE: BB) stock is soaring in Thursday's trading. The company's share price was up 12% as of 11:15 a.m. ET. At the same point in the daily session, the S&P 500 and the Nasdaq Composite were both down 0.2%. BlackBerry published its fourth-quarter results before the market opened this morning and reported sales and earnings for the period. Sweetening the pot, the company also issued forw...
BlackBerry (NYSE: BB) stock is soaring in Thursday's trading. The company's share price was up 12% as of 11:15 a.m. ET. At the same point in the daily session, the S&P 500 and the Nasdaq Composite were both down 0.2%. BlackBerry published its fourth-quarter results before the market opened this morning and reported sales and earnings for the period. Sweetening the pot, the company also issued forward guidance that was significantly better than Wall Street's expectations. Image source: Getty Images. Continue reading