matejmo/iStock via Getty Images Market Recap - First Quarter 2026 There were many memorable moments during the first quarter of 2026, the capture of Nicolas Maduro, the perceived death of software due to AI disruption, upheaval within the private credit market, the US men's hockey team taking the gold for the first time since 1980, and small caps and value stocks outperforming. However, the waters...
matejmo/iStock via Getty Images Market Recap - First Quarter 2026 There were many memorable moments during the first quarter of 2026, the capture of Nicolas Maduro, the perceived death of software due to AI disruption, upheaval within the private credit market, the US men's hockey team taking the gold for the first time since 1980, and small caps and value stocks outperforming. However, the watershed moment occurred on February 28th with the launch of Operation Epic Fury. What had been a blistering two-month stretch for stocks, outside of US mega cap growth, was quickly neutralized by the ensuing drop in asset prices throughout March. The US stock market had been undergoing a welcome broadening, with the S&P 500 Equal Weight Index gaining +7.1% versus the traditional market capitalization based S&P 500 Index's modest +0.7% showing through the end of February. But after a war-torn March, the equal weight index lost -6.0%, leaving it up just +0.7% at the end of the quarter, while the flagship index lost -5.0% to tumble -4.3% by March 31st. The impact of a +50% increase in the price of oil hit international equities harder than the domestic market, owing to their much greater reliance on importing energy and commodity resources through the now closed Strait of Hormuz (the Strait). The developed markets MSCI EAFE Index jumped double digits to +10.1% through February, only to drop -10.3% in March. Emerging markets fell prey to a similar fate, rocketing up +14.8% in the first two months of the year before free falling -13.1%. Fixed income markets were unable to escape the ravages of volatility, largely due to the pricing out of Federal Reserve interest rate cuts related to the reemergence of inflation fears due to the jump in oil. Like stocks, bonds had a nice run through February with rates falling, sending the Bloomberg US Aggregate Bond Index up +1.8%, before March came in like a lion sending rates higher and the index down -1.8%. Outlook Entering 2026, notwithstanding...
The queues start to form before the lunchtime rush at Phed Mark, a Bangkok kitchen with a pop-up feel that dishes up steaming plateloads of pad kaphrao – a runny fried egg with fiery minced meat over rice – to a clientele of mainly Chinese tourists. Founded by YouTuber Mark Wein, Phed Mark has turned a Thai staple into a must-eat for Chinese visitors, who defy the heat to patiently wait each day o...
The queues start to form before the lunchtime rush at Phed Mark, a Bangkok kitchen with a pop-up feel that dishes up steaming plateloads of pad kaphrao – a runny fried egg with fiery minced meat over rice – to a clientele of mainly Chinese tourists. Founded by YouTuber Mark Wein, Phed Mark has turned a Thai staple into a must-eat for Chinese visitors, who defy the heat to patiently wait each day on plastic stools for their turn outside the Ekkamai bus terminal. A lot has to do with its...
China’s early lead in humanoid robots will help power the next phase of its global manufacturing and export dominance, according to new research from Morgan Stanley. Much like the early identification of electric vehicles as a growth driver a decade ago, China’s investments and early lead in humanoid robotics will see the nation’s share of global manufacturing expand to 16.5% by 2030, from 15% tod...
China’s early lead in humanoid robots will help power the next phase of its global manufacturing and export dominance, according to new research from Morgan Stanley. Much like the early identification of electric vehicles as a growth driver a decade ago, China’s investments and early lead in humanoid robotics will see the nation’s share of global manufacturing expand to 16.5% by 2030, from 15% today, economists led by Chetan Ahya wrote in a report. Over the past couple of years, robotics has shifted from the lab to the real world, with Chinese tech parks, factories and universities among those deploying humanoids. Government procurement is also kicking in, the Morgan Stanley economists note, paving the way for broader adoption. “China has a track record of spotting the next big growth areas early and planning ahead,” Ahya, the bank’s chief Asia economist, wrote in the report, citing China’s now-dominant EV and battery industries. “The robotics industry has followed a similar path.” Like with EVs, China is building out capacity across the humanoid supply chain. That gives it an edge over competitors including the US, Japan and South Korea, which often rely on Chinese inputs and components. Almost every week, Chinese media reports on the next leap forward in humanoid robotics. A red humanoid recently completed a half-marathon in 50 minutes and 26 seconds — about seven minutes faster than the men’s world record. Robotics shares jumped on that news. With American firms like Tesla Inc. also investing heavily , the race to dominate the humanoid robot market is part of the broader strategic competition between the world’s two largest economies. The US approach has been to focus on high-cost and high-spec prototypes, with an emphasis on testing before scaling up production, the Morgan Stanley economists wrote. Chinese firms have been quicker to roll out models, with the local market acting as a testing ground. Protectionism will be a threat. Chinese EVs have run into tariff...
IRSA Inversiones y Representaciones Sociedad Anónima press release ( IRS ): for nine-month ended March 31, 2026 GAAP EPS of ARS 283.71. Revenue of ARS 464.37B (+4.2% Y/Y). Adjusted EBITDA from rental segments reached ARS 232,327 million in the first nine months of 2026, increasing 4.6% year-over-year. In the Shopping Malls segment, revenues and Adjusted EBITDA increased by 2.4% and 2.0%, respectiv...
IRSA Inversiones y Representaciones Sociedad Anónima press release ( IRS ): for nine-month ended March 31, 2026 GAAP EPS of ARS 283.71. Revenue of ARS 464.37B (+4.2% Y/Y). Adjusted EBITDA from rental segments reached ARS 232,327 million in the first nine months of 2026, increasing 4.6% year-over-year. In the Shopping Malls segment, revenues and Adjusted EBITDA increased by 2.4% and 2.0%, respectively, during the first nine months of fiscal year 2026, driven by higher base rent and other fixed components. We maintained 100% occupancy in our premium office portfolio during the third quarter, while the Hotels segment continued to show a recovery in revenue and EBITDA levels. More on IRSA Inversiones y Representaciones Sociedad Anónima IRSA: Asymmetrical Call Option On Argentina's Real Estate Renaissance IRSA Inversiones y Representaciones Sociedad Anónima 2026 Q2 - Results - Earnings Call Presentation Top 5 small-cap REIT quant picks: highest vs. lowest ahead of Q1 results Small-Cap real estate stocks ranked by quant ratings after earnings season Seeking Alpha’s Quant Rating on IRSA Inversiones y Representaciones Sociedad Anónima
The US and Iran are considering a fresh proposal to end the war, as President Donald Trump searches for an exit from a conflict that has elevated energy prices and damaged his political standing. Alan Eyre, Middle East Institute Distinguished Diplomatic Fellow & Former Senior US Diplomat spoke to Bloomberg’s Horizons Middle East & Africa anchor Joumanna Bercetche on the path ahead. Original filena...
The US and Iran are considering a fresh proposal to end the war, as President Donald Trump searches for an exit from a conflict that has elevated energy prices and damaged his political standing. Alan Eyre, Middle East Institute Distinguished Diplomatic Fellow & Former Senior US Diplomat spoke to Bloomberg’s Horizons Middle East & Africa anchor Joumanna Bercetche on the path ahead. Original filename: 20260507_044850_Fragile_Ceasefire_in_Iran_Conflict_Leaves_Risk_of_Escalation.mp4 (Source: Bloomberg)
As the traditional route of school, university and entry-level job is ever more precarious, it’s no wonder parents are feeling the strain Called on to do long division, how would you fare? I had no illusions going in. I couldn’t do it the first time round and, four decades later, it seemed unlikely the situation had improved. (For a split second I thought AI might help, but it was like listening t...
As the traditional route of school, university and entry-level job is ever more precarious, it’s no wonder parents are feeling the strain Called on to do long division, how would you fare? I had no illusions going in. I couldn’t do it the first time round and, four decades later, it seemed unlikely the situation had improved. (For a split second I thought AI might help, but it was like listening to street directions, only worse.) And so, while parents of 11-year-olds offer sympathy and support for their children ahead of year 6 Sats exams next week, let’s not lose sight of the real victims here, which is us parents who have been forced to revisit multi-stage maths problems when we had made large and deliberate life choices to avoid them. Of course, Sats “don’t matter”, or if you’re a more liberal parent, exams as a whole don’t matter – a statement that, if it was a consoling lie at one time, seems to be becoming ever more true. Arguments around the value of testing have been going on for ever, but as AI eviscerates the entry-level job market and university degrees become increasingly expensive and at odds with the skills young people may actually need, you have to wonder whether the old systems of education are still fit for purpose – and if they’re not, what exactly should replace them? Emma Brockes is a Guardian columnist Continue reading...
Exclusive: Taped conversations also cover playwright’s relationship with fame, self-doubt and communism He was one of the greatest playwrights of the 20th century and she was one of the greatest actors. In newly unearthed recordings made over a period of nearly three decades, Arthur Miller opened up about his short-lived marriage to Marilyn Monroe, saying she wanted a husband who was a “father, lo...
Exclusive: Taped conversations also cover playwright’s relationship with fame, self-doubt and communism He was one of the greatest playwrights of the 20th century and she was one of the greatest actors. In newly unearthed recordings made over a period of nearly three decades, Arthur Miller opened up about his short-lived marriage to Marilyn Monroe, saying she wanted a husband who was a “father, lover, friend and agent,” and the child she longed for would have been an “additional problem”. In taped conversations with his friend and biographer Prof Christopher Bigsby, Miller said he had felt “death was always on her [Monroe’s] shoulder – always”. He had believed that if he did not “take care of her life” she would come to a “catastrophic end”. Continue reading...
Softly braised vegetables combine with crisp-skinned chicken thighs in this reliable, versatile dish The weather lately has been as temperamental as peas in pods. But peas are even harder to read than the sky: some pods contain sweet things no bigger than peppercorns, which explode when you bite them; the contents of others, however, are closer to small ball bearings, their size very likely a sign...
Softly braised vegetables combine with crisp-skinned chicken thighs in this reliable, versatile dish The weather lately has been as temperamental as peas in pods. But peas are even harder to read than the sky: some pods contain sweet things no bigger than peppercorns, which explode when you bite them; the contents of others, however, are closer to small ball bearings, their size very likely a sign that all the natural sucrose has been metabolised and transformed to pea starch. The best thing for the tiny ones is to snack on them alongside a bit of cheese, whereas the path for big ones is the same as for dried peas, so pea and ham soup or a long-simmered puree. Prepared for all the above, I first checked that there were frozen peas in the freezer. It was a packet I used to take for granted until, aged 14 and having finished all the biscuits, crisps, cereal and milk, I decided that peas were a decent late-night desperation snack. Fortunately, there was a packet, because I needed a good portion of it to make up for the pea shortfall caused by the huge and tiny ones found in one kilo of pods. Continue reading...
Test yourself on topical news trivia, pop culture and general knowledge every Thursday. How will you fare? Welcome to the Thursday news quiz, where it pays to listen carefully – although not necessarily to the extent of developing a question mark for an ear, as our illustration by Anaïs Mims may suggest. Have you been paying attention to the week’s events or just hearing half the story? Fifteen qu...
Test yourself on topical news trivia, pop culture and general knowledge every Thursday. How will you fare? Welcome to the Thursday news quiz, where it pays to listen carefully – although not necessarily to the extent of developing a question mark for an ear, as our illustration by Anaïs Mims may suggest. Have you been paying attention to the week’s events or just hearing half the story? Fifteen questions await on topical news, pop culture and general knowledge, generously sprinkled with some in-jokes. There are no prizes, but we always enjoy hearing how you got on in the comments. Allons-y! The Thursday news quiz, No 246 Continue reading...