Dragon Claws/iStock via Getty Images The first fiscal quarter decidedly took a wrong turn for Goldman Sachs BDC ( GSBD ), with the investment firm missing analyst expectations for net investment income by a massive $0.08 per share on May 7, 2026. The BDC suffered a severe deterioration in its dividend coverage as well as non-accrual ratio which led to a major sell-off for GSBD post-earnings. While...
Dragon Claws/iStock via Getty Images The first fiscal quarter decidedly took a wrong turn for Goldman Sachs BDC ( GSBD ), with the investment firm missing analyst expectations for net investment income by a massive $0.08 per share on May 7, 2026. The BDC suffered a severe deterioration in its dividend coverage as well as non-accrual ratio which led to a major sell-off for GSBD post-earnings. While general SaaS fears in the industry seem to be exaggerated, in my opinion, the Goldman Sachs BDC's increase in the non-accrual percentage and massive drop-off in net investment income are clearly concerns for high-yield investors. A dividend reset in the context of a 50% Y/Y drop-off in net investment income in Q1'26, in my opinion, is a near certainty, and I am therefore downgrading shares of Goldman Sachs BDC to 'Hold' only. Seeking Alpha Previous rating and concerns Goldman Sachs BDC was a ‘Buy’ for me in my last coverage in March -- Speculative Buy On Exaggerated SaaS Fears -- because I felt that the market was too negative about the private credit sector in light of growing investor concerns about AI and its impact on software companies. The BDC's dividend coverage ratio looked fine, however, which unfortunately just changed. In the first-quarter, Goldman Sachs BDC suffered a serious decline in its net investment income as well as a severe decline in its portfolio quality, which is now seriously pressuring the dividend. Massive increase in non-accruals, drop-off in NII sets GSBD up for dividend reset Goldman Sachs BDC is still heavily focused on first liens in its portfolio, which are typically highly secured and tend to have low loan loss rates. In the first quarter, Goldman Sachs BDC had a total of 97% of its assets invested in first liens, with only 3% falling into other asset groups, such as second liens, unsecured debt, and equity. Like so many other BDCs this earnings reporting season, Goldman Sachs BDC is seeing a compression of its debt yields in its portfolio ...
Romania is poised to keep interest rates at the highest level in the European Union as policymakers confront the dilemma of double-digit inflation and a deepening recession . The National Bank of Romania will leave the benchmark rate at 6.5% on Friday, according to all economists in a Bloomberg survey . Central bankers, who have kept borrowing costs steady for a year and half, are also weighing th...
Romania is poised to keep interest rates at the highest level in the European Union as policymakers confront the dilemma of double-digit inflation and a deepening recession . The National Bank of Romania will leave the benchmark rate at 6.5% on Friday, according to all economists in a Bloomberg survey . Central bankers, who have kept borrowing costs steady for a year and half, are also weighing the impact of a weaker currency following capital outflows triggered by renewed political instability. “The NBR is likely to prioritize preserving its inflation-fighting credentials and keep monetary conditions rather tight,” said Ciprian Dascalu , an economist at Romania’s unit of Erste Group Bank AG. The Black Sea nation is now led by an interim cabinet with limited powers after Prime Minister Ilie Bolojan lost a no-confidence vote in parliament this month. The government collapse occurred only 10 months since the country emerged from its worst political crisis in the post-communist era and has sought to reverse years of fiscal slippages. The central bank is also expected to approve an updated inflation forecast, with focus on the impact of higher fuel prices and the leu ’s drop to record lows against the euro. Governor Mugur Isarescu will present the fresh projections on May 19. Deputy Governor Cosmin Marinescu said on Tuesday that the central bank will likely keep rates unchanged for a longer period of time even if other central banks react to inflation impact of the Middle East conflict. He also warned about risks to the budget and current-account deficit from the weaker currency. A potential delay in fiscal consolidation may also complicate the bank’s fight against the surge in inflation, he said. Read more: Romania’s Economic Pain Worsens With 10% Inflation and Recession President Nicusor Dan , a key figure in efforts to break the political deadlock following the toppling of the government, said he plans to have formal talks with the main parties on May 18. A potential...
Unitree Unveils Real-Life Transformer Robot. Only Costs $650,000 Chinese robotics firm Unitree, known for its robot dogs and humanoids, has unveiled a production-ready "manned mecha": a large robotic machine piloted by a human. Unitree wrote on X that the manned mecha costs $650,000 and weighs as much as a car. The bipedal mecha is piloted by a human operator who sits in its belly. The machine loo...
Unitree Unveils Real-Life Transformer Robot. Only Costs $650,000 Chinese robotics firm Unitree, known for its robot dogs and humanoids, has unveiled a production-ready "manned mecha": a large robotic machine piloted by a human. Unitree wrote on X that the manned mecha costs $650,000 and weighs as much as a car. The bipedal mecha is piloted by a human operator who sits in its belly. The machine looks like something out of a sci-fi movie. And it tranforms into a giant robo-dog. Chinese media outlet Global Times reported that Unitree Robotics CEO Wang Xingxing piloted the bipedal mecha in the promotional video, calling it the "world's first production-ready manned mecha." "The application scenarios for Unitree's products are mainly aimed at changing the way we work. For example, our robots can be used in high-risk and harsh environments," said Huang Jiawei, a marketing staff member at Unitree. Jiawei continued, "At this stage, our B2 and A2 quadruped robots are already being applied in consumer and inspection scenarios. Through the use of robots, we hope to improve work efficiency and optimize the way people work." "The product is still in its first generation at this stage, and there is indeed a lot of room for imagination," he said. Unitree Unveils: GD01, A Manned Transformable Mecha, from $650,000 👏 The world's first production-ready manned mecha. It can transform. It's a civilian vehicle. It weighs ~500kg with you inside. Please everyone be sure to use the robot in a Friendly and Safe manner. pic.twitter.com/xa6eNiRDdV — Unitree (@UnitreeRobotics) May 12, 2026 We can use our imagination. This robot will eventually be dual-use and end up on a modern battlefield. Tyler Durden Thu, 05/14/2026 - 23:00