Argentine dollar bonds rallied Wednesday after Fitch Ratings upgraded the country’s credit score to its highest level since 2019 amid improved economic conditions. The South American nation was raised late Tuesday to B-, six notches below investment grade. Argentina has been rated above CCC at Fitch for less than six years in the last quarter century. Benchmark notes due 2035 — the country’s most ...
Argentine dollar bonds rallied Wednesday after Fitch Ratings upgraded the country’s credit score to its highest level since 2019 amid improved economic conditions. The South American nation was raised late Tuesday to B-, six notches below investment grade. Argentina has been rated above CCC at Fitch for less than six years in the last quarter century. Benchmark notes due 2035 — the country’s most widely traded global bond — rose 1.4 cents to 75.9 cents on the dollar, pushing yields down to 9.66%. Bonds maturing in 2041 saw similar gains, while shorter-term issuances posted gains of less than one cent. Fitch cited a “stronger external position” as the country “emerged as a net energy exporter,” helping shield it from the oil shock linked to the Iran war. The agency also cited improved fiscal and external balances, central bank dollar purchases, progress on economic reforms and expectations that the government will secure financing to meet upcoming debt obligations. “This is an additional incentive to bring sovereign spreads closer to market-access levels,” said Pedro Siaba Serrate , Head of Research at Portfolio Personal Inversiones. “Fitch has recognized what the market had been slowly pricing for months: a structurally stronger macro framework, a firmer fiscal anchor and improving external dynamics.” Investors and officials expect further upgrades in Argentina’s credit rating to help unlock demand for its debt, as a number of institutional investors may be able to allocate funds to the asset class if other rating agencies follow with similar upgrades. Milei’s rise to power and his decisive midterm victory late last year triggered a sharp repricing of risk, with yields on longer-dated securities falling from distressed levels. But more recent progress had yielded only moderate gains in the country’s debt, with investors noting that Argentina’s presence in the CCC category continued to weigh on demand — effectively sidelining a large pool of buyers, such as pension f...
As the saying goes, there are many possible reasons for an insider to sell a stock, but only one reason to buy -- they expect to make money. So let's look at two noteworthy recent insider buys. On Tuesday, Patrick Industries' Chief Executive Officer, Andy L. Nemeth, made a $88
As the saying goes, there are many possible reasons for an insider to sell a stock, but only one reason to buy -- they expect to make money. So let's look at two noteworthy recent insider buys. On Tuesday, Patrick Industries' Chief Executive Officer, Andy L. Nemeth, made a $88
takasuu/iStock via Getty Images Market Overview Just as markets began to grow more confident about the path forward for inflation and interest rates, an unexpected variable took center stage. Escalating conflict in the Middle East disrupted global energy markets, driving oil prices higher and reintroducing inflation risks that had largely faded to the background. As energy costs ripple through tra...
takasuu/iStock via Getty Images Market Overview Just as markets began to grow more confident about the path forward for inflation and interest rates, an unexpected variable took center stage. Escalating conflict in the Middle East disrupted global energy markets, driving oil prices higher and reintroducing inflation risks that had largely faded to the background. As energy costs ripple through transportation, manufacturing, and consumer spending, uncertainty around the economic outlook increased, and with it, market volatility. Similar to sudden tariff announcements last year, the conflict in Iran and broader instability across the Middle East injected a new layer of uncertainty into the outlook for the economy and financial markets. These external shocks have complicated the inflation picture, driven volatility, and left the Federal Reserve (the Fed) in wait-and-see mode as the future path of policy has become less clear. While we cannot predict how long these disruptions will last or how markets will react in the near term, we can prepare for the inevitable surprises. That means continuing to emphasize our long-term discipline: focusing on business quality, valuation, and risk management, while avoiding the temptation to react to short-term headlines. Energy shocks may alter the path of the economy, but we believe a consistent investment process remains the most reliable way to navigate periods like this. Inflation measures were steady leading up to the war in Iran, but disruption from the conflict is already creating upward pressure, with the March consumer price index (CPI) jumping to 3.3%, the highest reading since May 2024. Rising energy and commodity prices pose a real threat to the inflation and economic outlook, particularly given the unpredictable nature of the conflict. Prior to the escalation in the Middle East, economic conditions were generally encouraging. GDP growth remained positive, manufacturing indicators showed improvement, and the job market he...
Sports-centric predictions market platform Underdog has hired Nick Lundgren, the previous head of Crypto.com ’s event contracts exchange , to serve as chief legal officer. Lundgren also served as chief legal officer at Crypto.com and helped the exchange launch the trading of sports contracts in the US in late 2024. Since then, the industry has surged with sports markets accounting for the vast maj...
Sports-centric predictions market platform Underdog has hired Nick Lundgren, the previous head of Crypto.com ’s event contracts exchange , to serve as chief legal officer. Lundgren also served as chief legal officer at Crypto.com and helped the exchange launch the trading of sports contracts in the US in late 2024. Since then, the industry has surged with sports markets accounting for the vast majority of the trading volume on some of the most popular US platforms. “After working with Underdog, getting to know the team, their ability to build product and seeing them acquire the full stack of prediction markets licenses, it became obvious to me they were going to win the largest category of prediction markets, sports,” Lundgren said in a statement. Underdog said it plans to keep its focus on sports, unlike some of the leading exchanges like Kalshi Inc. and Polymarket that offer wagers on almost anything. The Brooklyn, New York-based company in March acquired an exchange and clearinghouse from Aristotle Inc. that were registered with the Commodity Futures Trading Commission . It has partnered with Crypto.com to execute sports trades while it builds out its own infrastructure and plans to make the switch to using its own licenses later this year. Read More: How Prediction Markets Turned the World Into a Casino: Explainer In February, Underdog cut about 20% of its workforce, or about 125 people, according to Front Office Sports. The staff reduction was due in part to the company’s use of artificial intelligence, as well as its push into prediction markets, Front Office Sports said. The broader prediction markets industry is ensnared in legal battles with tribal groups and state gaming regulators challenging whether the platforms should be treated as state-regulated sports betting operations. The CFTC has repeatedly sided with the industry and argued the agency has “exclusive jurisdiction” over exchanges like Kalshi and Crypto.com.
Target has a new employee dress code, but it won’t fix what’s broken at the company, Bloomberg Opinion columnist Beth Kowitt explains. (Source: Bloomberg)
Target has a new employee dress code, but it won’t fix what’s broken at the company, Bloomberg Opinion columnist Beth Kowitt explains. (Source: Bloomberg)
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Dividend income arrives whether markets rally or sell off. For investors seeking recurring cash flow, high-yield equities remain the cleanest source outside a paycheck. They settle in cash, clear immediately, and can be redeployed or spent without selling property or waiting on private placements. Pharma is one of the few sectors where mature franchises, regulatory ... 6 Pharma Dividend Stocks Yielding Up to 6.44% — and They’ve Survived Every Market Crash