Indonesia’s central bank intervened in the foreign-exchange markets as the rupiah set a new record low. Bank Indonesia intervened through offshore and domestic non-deliverable forwards, spot transactions and government bonds in the secondary market, Erwin Hutapea , executive director of monetary and securities management, said in a mobile-phone message on Tuesday. The rupiah dropped 0.2% to 17,422...
Indonesia’s central bank intervened in the foreign-exchange markets as the rupiah set a new record low. Bank Indonesia intervened through offshore and domestic non-deliverable forwards, spot transactions and government bonds in the secondary market, Erwin Hutapea , executive director of monetary and securities management, said in a mobile-phone message on Tuesday. The rupiah dropped 0.2% to 17,422 per dollar on the day, marking an all-time low. Investors are dumping assets of nations which are most impacted by the surge in oil prices following the Iran war, with the Indian rupee also falling to a new record low. The Philippine peso also weakened and is very close to an all-time low. The central bank will continue to be present in the market to ensure market mechanisms function properly and to stabilize the rupiah in line with its fundamental value, Hutapea said. One by One, Asian Currencies Are Faltering as Oil Worries Worsen Indian Rupee Drops to Record as Crude Surges on Iran Tensions Philippine Peso Edges Lower After April CPI Beat Estimates
The US and Iran exchanged fire in the Persian Gulf in a flareup of violence on Monday that also drew in the United Arab Emirates. Bloomberg's Joumanna Bercetche reports. (Source: Bloomberg)
The US and Iran exchanged fire in the Persian Gulf in a flareup of violence on Monday that also drew in the United Arab Emirates. Bloomberg's Joumanna Bercetche reports. (Source: Bloomberg)
Wyoming lawmakers say tight new restrictions on abortion are needed to grow the state's population. Demographers and others say economic conditions are more to blame for an exodus of young people. (Image credit: Jamie Schwaberow)
Wyoming lawmakers say tight new restrictions on abortion are needed to grow the state's population. Demographers and others say economic conditions are more to blame for an exodus of young people. (Image credit: Jamie Schwaberow)
Disruptions caused by artificial intelligence are threatening private credit firms’ potential recovery rates in the software sector, according to Davidson Kempner Capital Management LP chief investment officer Tony Yoseloff . “My real concern is in recovery value in these assets,” Yoseloff said at the Milken Institute Global Conference on Monday, adding that the average recovery in first-lien debt...
Disruptions caused by artificial intelligence are threatening private credit firms’ potential recovery rates in the software sector, according to Davidson Kempner Capital Management LP chief investment officer Tony Yoseloff . “My real concern is in recovery value in these assets,” Yoseloff said at the Milken Institute Global Conference on Monday, adding that the average recovery in first-lien debt over the past five years was already below 40 cents. Software businesses are likely to fare even worse because they lack hard assets to support valuations once performance deteriorates, he said. Private equity sponsors — the mainstay of private credit lending — are heavily exposed to the sector, with roughly 41% of capital invested by buyout firms in the US last year directed to software companies, he added. Software has been a particular pain point for direct lenders, as recent advances in AI have sparked concerns that many in the industry could be displaced. Software businesses make up an outsize portion of business-development companies’ loan portfolios, which have been beset by a wave of investor redemptions in recent months. Anne Walsh , chief investment officer at Guggenheim Partners , said the boom in AI and technology is still in its infancy. “It is absolutely investible, but also comes with creative destruction and a substantial amount of change,” she said. Walsh emphasized the scale of investment required to build infrastructure for rising demand, estimating $3 trillion to $4 trillion in AI-related spending over the next five years. Financing will rely heavily on private credit, alongside corporate and securitized debt, she added. Gemcorp Hires From Oaktree, Deepening Push Into Private Credit Thoma Bravo Is Combing Every BDC Book for Software Loan Bargains Khosla Warns Software Pain Will ‘Taint Everything’ Across Credit Fortress Investment Group ’s focus in the software sector has been in the “picks and shovels” segment of the supply chain, said co-chief executiv...
Ferocity of women’s sport juxtaposed with cosy homes and pretty snow scenes in TV series gaining wider recognition The concept of sisu – used to refer to guts or inner strength – is often talked about as the source of Finnish happiness. And Guts, a hit Finnish TV series about top female cross-country skiers, makes it clear from the beginning that any happiness in this psychodrama is going to be ex...
Ferocity of women’s sport juxtaposed with cosy homes and pretty snow scenes in TV series gaining wider recognition The concept of sisu – used to refer to guts or inner strength – is often talked about as the source of Finnish happiness. And Guts, a hit Finnish TV series about top female cross-country skiers, makes it clear from the beginning that any happiness in this psychodrama is going to be exceptionally hard-won. Continue reading...
The transition towards renewable energy received a boost last week when representatives from 57 countries met in Santa Marta, Colombia, for a world-first climate meeting aimed at bringing the fossil fuels era to an end. Madeleine Finlay hears from the Guardian’s global environment editor, Jon Watts, about how the landmark conference came about, who was missing, and whether the optimism can transla...
The transition towards renewable energy received a boost last week when representatives from 57 countries met in Santa Marta, Colombia, for a world-first climate meeting aimed at bringing the fossil fuels era to an end. Madeleine Finlay hears from the Guardian’s global environment editor, Jon Watts, about how the landmark conference came about, who was missing, and whether the optimism can translate into real world action Could Santa Marta climate talks mark ground zero in push to ditch fossil fuels? Support the Guardian: theguardian.com/sciencepod Continue reading...
In December 1982, South African Rodney Wilkinson walked four bombs into Koeberg power station – the crown jewel of the apartheid state – pulled the pins and then left on his bicycle. How did he do it? At 21, Rodney Wilkinson was the best fencer in South Africa: national champion in foil and sabre, second in epee. He had toured Europe and Argentina. He had not stood on the Olympic podium, because S...
In December 1982, South African Rodney Wilkinson walked four bombs into Koeberg power station – the crown jewel of the apartheid state – pulled the pins and then left on his bicycle. How did he do it? At 21, Rodney Wilkinson was the best fencer in South Africa: national champion in foil and sabre, second in epee. He had toured Europe and Argentina. He had not stood on the Olympic podium, because South Africa was banned. The apartheid state had taken that from him, along with everything else it took from everyone. One evening in August 1971, Wilkinson stood in the gym at the University of the Witwatersrand in Johannesburg, foil in hand. He was facing his coach Vincent Bonfil, a 25-year-old Englishman who had represented Britain as a reserve at the 1968 Mexico Olympics, and who was now in Johannesburg finishing a master’s thesis in metallurgy. They were working on a technique in which both fencers lunge simultaneously, and the one who reads the other’s move a split second earlier wins the point. They came at each other. Wilkinson’s foil caught the edge of Bonfil’s sleeve. There was a pop. Continue reading...
Parties accused of ‘fiscal denial’ and failing to tell voters the scale of the challenge The next Scottish government will need to make “really difficult” spending decisions soon after taking power, including tackling its large public sector pay bill, senior economists have said. Economists with the Fraser of Allander Institute, at the University of Strathclyde, believe the manifestos published by...
Parties accused of ‘fiscal denial’ and failing to tell voters the scale of the challenge The next Scottish government will need to make “really difficult” spending decisions soon after taking power, including tackling its large public sector pay bill, senior economists have said. Economists with the Fraser of Allander Institute, at the University of Strathclyde, believe the manifestos published by Scotland’s political parties during the campaign failed to tell voters about the true scale of the challenge. Continue reading...
The Room Next Door star on overnight success, ‘sneaky follows’ from politicians and how internet commenting has dragged society down How did you get into comedy? I was submitting sketches to Spitting Image when I was 17 and making my own sketches pre-internet. But I guess in terms of my actual break, that didn’t happen until [online political sketch series] The Room Next Door . Was that an overnig...
The Room Next Door star on overnight success, ‘sneaky follows’ from politicians and how internet commenting has dragged society down How did you get into comedy? I was submitting sketches to Spitting Image when I was 17 and making my own sketches pre-internet. But I guess in terms of my actual break, that didn’t happen until [online political sketch series] The Room Next Door . Was that an overnight success? I was watching a particularly bad interview with Boris Johnson and jotted down the concept of an adviser next door who was pulling his hair out over what was being said. I then filmed it after dinner, posted it before I went to bed and the next morning it was in the millions. So that is literally an overnight success, isn’t it? Continue reading...
One in four late-night venues went out of business between 2020 and 2025. Those that remain are struggling to pull in customers. Maybe a night out in Birminghan will reveal why The £5 entry is a good start. So is the loud, lively music booming down the nightclub’s stairway. But when I finally reach the dancefloor, hidden behind a curtain, my hopes for a wild night out in Birmingham are dashed. Des...
One in four late-night venues went out of business between 2020 and 2025. Those that remain are struggling to pull in customers. Maybe a night out in Birminghan will reveal why The £5 entry is a good start. So is the loud, lively music booming down the nightclub’s stairway. But when I finally reach the dancefloor, hidden behind a curtain, my hopes for a wild night out in Birmingham are dashed. Despite the roving disco lights and blaring pop bangers, it is entirely empty, aside from a few bartenders milling around, tending to no one. This isn’t 9pm on a random Tuesday. I am hitting the town on Saturday night, when the city’s bars and clubs should be in full swing, but Birmingham is looking like a bust. Continue reading...
China has debuted a massive driverless mining truck that can “crab-walk” across difficult terrain, highlighting the country’s push to modernise its mining industry through technology. Despite a kerb weight of nearly 100 tonnes, this advanced model boasts exceptional manoeuvrability – it can move sideways and pivot on the spot, allowing it to operate in narrow pits and across complex, sloped roadwa...
China has debuted a massive driverless mining truck that can “crab-walk” across difficult terrain, highlighting the country’s push to modernise its mining industry through technology. Despite a kerb weight of nearly 100 tonnes, this advanced model boasts exceptional manoeuvrability – it can move sideways and pivot on the spot, allowing it to operate in narrow pits and across complex, sloped roadways. At the same time, it offers the hauling capacity and power required for continuous,...
Meta Platforms ( META ) is reportedly working on a financing package for a data center in El Paso, Texas, that could total roughly $13B, underscoring Big Tech’s growing reliance on debt to bankroll the infrastructure behind the AI boom. Morgan Stanley ( MS ) and JPMorgan Chase & Co. ( JPM ) are leading the process, as per reports. Bloomberg News, which first reported the news, said a majority of...
Meta Platforms ( META ) is reportedly working on a financing package for a data center in El Paso, Texas, that could total roughly $13B, underscoring Big Tech’s growing reliance on debt to bankroll the infrastructure behind the AI boom. Morgan Stanley ( MS ) and JPMorgan Chase & Co. ( JPM ) are leading the process, as per reports. Bloomberg News, which first reported the news, said a majority of the financing is expected to be in the form of debt, with the rest in equity. Meta ( META ) in March boosted its investment in the planned El Paso AI data center by more than sixfold to $10B, as it aims to reach 1 gigawatt of capacity ahead of the facility's projected 2028 opening. Meta and its rivals Amazon ( AMZN ), Alphabet ( GOOG ) ( GOOGL ) and Microsoft ( MSFT ) are projected to spend over $630B on AI infrastructure this year. More on Meta, Morgan Stanley, etc. Meta Platforms: Why AI Is Still Driving Ads Growth And Value Creation Meta's Post-Q1 2026 Earnings Price Slump Might Continue Meta Does Things Their Own Way Bessent warns Americans should be concerned about AI threats to bank accounts AI boom lifts big tech earnings, but Wall Street is picking winners and losers
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This is the forum for daily political discussion on Seeking Alpha. A new version is published every market day. Please don't leave political comments on other articles or posts on the site. The comments below are not regulated with the same rigor as the rest of the site, and this is an 'enter at your own risk' area as discussion can get very heated. If you can't stand the heat... you know what they say... More on Today's Markets: Moderation Guidelines: We remove comments under the following categories: Personal attacks on another user account Anti-Vaxxer or covid related misinformation Stereotyping, prejudiced or racist language about individuals or the topic under discussion. Inciting violence messages, encouraging hate groups and political violence. Regardless of which side of the political divide you find yourself, please be courteous and don't direct abuse at other users. For any issue with regards to comments please email us at : moderation@seekingalpha.com. Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.
kyoshino/E+ via Getty Images 8:30 AM International Trade in Goods and Services Updating the goods portion of the advance report and offering initial data on services, this report provides complete information on cross-border trade. Forecasters see the deficit widening to $60.4 billion in March from $57.3 billion in February. 9:45 AM PMI Composite Final The US Services Purchasing Managers' Index ( ...
kyoshino/E+ via Getty Images 8:30 AM International Trade in Goods and Services Updating the goods portion of the advance report and offering initial data on services, this report provides complete information on cross-border trade. Forecasters see the deficit widening to $60.4 billion in March from $57.3 billion in February. 9:45 AM PMI Composite Final The US Services Purchasing Managers' Index ( PMI ) is based on monthly questionnaire surveys collected from over 400 U.S. companies, which provide a leading indication of what is happening in the private sector services economy. The consensus looks for no revision from the flash at 52.0 for the April composite final, up from 50.3 in March. For services, an upward revision is expected to 52.1 from 51.3 in the flash versus 49.8 in March. 10:00 AM New Home Sales New home sales measure the number of newly constructed homes with a committed sale during the month. Home sales are seen recovering to a 668,000 rate in March and to 610,000 in February from a surprisingly low 587,000 in January. 10:00 AM ISM Services Index Producing a monthly composite on general activity tracked in volumes, the Institute for Supply Management surveys several hundred service-providing firms from 16 industries (construction and mining are included). Similar to the ISM manufacturing report that was unchanged from March to April at 52.7, the services index is seen as flat at 53.9 in April versus 54.0 in March. 10:00 AM JOLTS The Labor Department's JOLTS report tracks monthly change in job openings and offers rates on hiring and quits. 10:00 AM Michelle Bowman Speaks Federal Reserve Vice Chair for Supervision Michelle Bowman speaks before the 2026 Women in Housing and Finance Symposium. 12:30 PM Michael Barr Speaks Federal Reserve Board Governor Michael Barr participates in a "Banking Regulation" conversation at Magdalen College. More on U.S. Markets Macro Insights: Sell In May At All-Time High? Inflation Alarms Starting To Ring In The Bond Market W...
After being “out of vogue” for years, Ariel Bezalel says his bond strategy is back in the spotlight. The fund manager has just wrapped up a tour across South America, where his message was straightforward: in a world of tremendous geopolitical volatility, flexibility pays. In recent weeks, Jupiter Asset Management ’s Bezalel has snapped up the debt of a Bahraini oil refinery, shorted European high...
After being “out of vogue” for years, Ariel Bezalel says his bond strategy is back in the spotlight. The fund manager has just wrapped up a tour across South America, where his message was straightforward: in a world of tremendous geopolitical volatility, flexibility pays. In recent weeks, Jupiter Asset Management ’s Bezalel has snapped up the debt of a Bahraini oil refinery, shorted European high-yield credit, wagered against interest-rate hikes from the Bank of England, and piled into Brazilian local-currency bonds. The wide-ranging bets have delivered a near 2% return over the past month — putting the fund ahead of most rivals. That freedom to make bold trades underscores the appeal of so-called go-anywhere or unconstrained bond funds, which don’t need to follow a benchmark. While that opaque mandate and a patchy track record has made them a hard sell in the past — investors suffered heavy losses during 2022’s inflation shock and longer-term performance is poor — interest is now reviving. “In recent months, we’ve been having a lot more conversations with investors. Outflows are drying up and we’re starting to see some money come back,” said Bezalel, who oversees $6 billion in assets across three unconstrained bond funds. It’s a picture being reflected across the industry, just as bond funds overall get a boost from souring appetite for private credit. Total assets managed by “flexible” global bond funds domiciled in Europe rose to €80.5 billion ($94.6 billion) this year, up a third from 2024, according to Morningstar Inc. That’s only a whisker away from a high set in 2014, but around a quarter of comparative corporate bond funds. Read more: Private Credit’s Rude Awakening Gives Bond Funds a New Edge “If you go back a decade, unconstrained fixed income was all the rage,” said Andrew Chorlton , chief investment officer for fixed income at M&G Investments. Now, “there’s a lot of money chasing credit and it’s perhaps a little bit stickier because people don’t want to...
MadamLead/iStock via Getty Images Market Overview The U.S. economy concluded 2025 with a divergent picture: robust services activity contrasted sharply with persistent manufacturing weakness and a cooling labor market. The Institute for Supply Management (ISM) Services Purchasing Managers' Index (PMI) surged to 54.4% in December – the highest reading of the year and the 10th consecutive month of e...
MadamLead/iStock via Getty Images Market Overview The U.S. economy concluded 2025 with a divergent picture: robust services activity contrasted sharply with persistent manufacturing weakness and a cooling labor market. The Institute for Supply Management (ISM) Services Purchasing Managers' Index (PMI) surged to 54.4% in December – the highest reading of the year and the 10th consecutive month of expansion – signaling continued strength in the sector responsible for more than two thirds of economic activity. However, manufacturing faced headwinds from tariff uncertainty, elevated input costs, and weak demand: the ISM Manufacturing PMI fell to 47.9% in December, marking the 10th consecutive month of contraction and the lowest level of 2025. The labor market showed signs of significant deceleration. The payroll report, compiled by the U.S. Bureau of Labor Statistics, showed nonfarm payrolls rising just 50,000 in December, well below expectations of 73,000. It was the worst year for hiring since 2020, with only 584,000 jobs created in all of 2025. The unemployment rate edged down from November's revised 4.5% to 4.4% in December, but the improvement was partly attributable to declining labor force participation rather than robust hiring. Inflation showed encouraging moderation. November's annual Consumer Price Index (CPI) inflation came in at 2.7%, which was down from 3.0% in September. November's core CPI reading was 2.6%, the lowest since March 2021. Year-over-year energy prices rose 4.2% while shelter costs – historically a stubborn component – increased 3.0%, indicating progress toward the U.S. Federal Reserve's 2% inflation target. The combination of cooling inflation, weakening labor markets, and resilient services activity suggests an economy in transition that is navigating tariff impacts and government spending shifts while avoiding outright recession. Fund Review We have been pleased with the Fund's performance in the fourth quarter and for the full year. We en...
Wall Street’s bearish price targets for the stocks in this article signal serious concerns. Such forecasts are uncommon in an industry where maintaining cordial corporate relationships often trumps delivering the hard truth.
Wall Street’s bearish price targets for the stocks in this article signal serious concerns. Such forecasts are uncommon in an industry where maintaining cordial corporate relationships often trumps delivering the hard truth.