Credit investors are swiftly unwinding long positions worth tens of billions of dollars and jumping into hedging trades. Bullish bets in high-grade credit-default swap indexes have plunged by about a fifth in recent weeks, based on data compiled by Bloomberg. Indicators by BNP Paribas SA, which track metrics like the amount of cash investors hold or the volatility of their portfolio, show that inv...
Credit investors are swiftly unwinding long positions worth tens of billions of dollars and jumping into hedging trades. Bullish bets in high-grade credit-default swap indexes have plunged by about a fifth in recent weeks, based on data compiled by Bloomberg. Indicators by BNP Paribas SA, which track metrics like the amount of cash investors hold or the volatility of their portfolio, show that investors are now short risk. Conflict in the Middle East and worries about the disruptive impact of artificial intelligence are pushing money managers to reduce long positions that had insulated the safest part of the credit market from most risks over the past year. They’re doing so in an unsettled period, when markets can swiftly reverse direction depending on the headlines of the day. “There is a lot of nervousness and a lot of uncertainty and people are afraid,” said Viktor Hjort , global head of credit strategy at BNP Paribas. “Many of them have already sold and dumped the risk.” In credit, the mood shift is most clearly seen in CDS indexes. Formerly just a hedge against companies going bust, these gauges have become a popular way to take a broad view on market direction because of their high levels of liquidity. They are also able to react to news much faster than corporate bonds, which are still the main building block of a credit portfolio. Read more: Credit Traders Are Wagering Market Stays Calm in Big CDS Bet Bullish bets in CDS indexes have been eroding over the past few weeks amid anxiety over the software sector, according to DTCC data compiled by Barclays Plc. The weekly data doesn’t yet reflect the impact of war in Iran, though a jump in CDS index spreads amid high trading volumes suggests the positioning shift is ongoing. A separate US credit positioning indicator run by BNP Paribas fell below zero in the past few days, while a European measure sank deeper into negative territory, indicating that investors are now short risk. The gauges include metrics like ca...
The Nasdaq 100 (^NDX) is home to some of the biggest success stories in tech and growth investing. However, certain stocks in the index face challenges like profitability concerns, rising costs, or shifts in market trends. Investing in Nasdaq 100 stocks isn’t just about picking big names - it’s about finding the right ones, and that’s where StockStory comes in. That said, here are two Nasdaq 100 s...
The Nasdaq 100 (^NDX) is home to some of the biggest success stories in tech and growth investing. However, certain stocks in the index face challenges like profitability concerns, rising costs, or shifts in market trends. Investing in Nasdaq 100 stocks isn’t just about picking big names - it’s about finding the right ones, and that’s where StockStory comes in. That said, here are two Nasdaq 100 stocks that have huge potential and one best left off your watchlist. One Stock to Sell: NXP Semiconductors (NXPI) Market Cap: $53.21 billion Spun off from Dutch electronics giant Philips in 2006, NXP Semiconductors (NASDAQ: NXPI) is a designer and manufacturer of chips used in autos, industrial manufacturing, mobile devices, and communications infrastructure. Why Does NXPI Worry Us? Annual sales declines of 3.9% for the past two years show its products and services struggled to connect with the market during this cycle Projected sales growth of 10.6% for the next 12 months suggests sluggish demand At $210.94 per share, NXP Semiconductors trades at 15.5x forward P/E. Check out our free in-depth research report to learn more about why NXPI doesn’t pass our bar. Two Stocks to Buy: Nvidia (NVDA) Market Cap: $4.45 trillion Founded in 1993 by Jensen Huang and two former Sun Microsystems engineers, Nvidia (NASDAQ:NVDA) is a leading fabless designer of chips used in gaming, PCs, data centers, automotive, and a variety of end markets. Why Will NVDA Outperform? Annual revenue growth of 88.3% over the past two years was outstanding, reflecting market share gains this cycle Share buybacks catapulted its annual earnings per share growth to 80.5%, which outperformed its revenue gains over the last five years Robust free cash flow margin of 45.5% gives it many options for capital deployment, and its recently improved profitability means it has even more resources to invest or distribute Nvidia is trading at $182.10 per share, or 22x forward P/E. Is now a good time to buy? See for yourself...
Iran is under intense pressure not just from the war but from internal unrest and political uncertainty and Aliyev's message comes across as a warning to Tehran: any attempt to pressure Azerbaijan militarily or diplomatically could result in a response from Baku, including one that affects Iran's internal stability.
Iran is under intense pressure not just from the war but from internal unrest and political uncertainty and Aliyev's message comes across as a warning to Tehran: any attempt to pressure Azerbaijan militarily or diplomatically could result in a response from Baku, including one that affects Iran's internal stability.
“At this point, it’s Israel/Palestine. Rangers/Celtic. No one remembers how it got started. All they know is, ‘I like this team and I don’t like that team.’ The whole country’s gone fucking mad. It’s what happens in a civil war – everyone starts thinking with the blood.” In a new play simply titled The Battle, those words are spoken by a fictionalised Damon Albarn, as he leads his band Blur into a...
“At this point, it’s Israel/Palestine. Rangers/Celtic. No one remembers how it got started. All they know is, ‘I like this team and I don’t like that team.’ The whole country’s gone fucking mad. It’s what happens in a civil war – everyone starts thinking with the blood.” In a new play simply titled The Battle, those words are spoken by a fictionalised Damon Albarn, as he leads his band Blur into a contest with Oasis for a summer No 1 and the de facto kingship of Britpop. But then he recoils as he wonders what on earth he has got involved in. Musical considerations inevitably take second place to sales figures, as the brief, superficial friendship between the two groups curdles into a poisonous loathing, mostly on the Oasis side. And, ironically, the band that has a thoroughly uncomplicated relationship with fame and success – the one fronted by the dependably mad-for-it Gallagher brothers – ends up losing out to a quartet whose victory instantly fills them with angst and emptiness. The Battle – two hours of vivid, knockabout pop-cultural history, which I just saw at Birmingham Rep, ahead of its move to Manchester – is the work of John Niven, the former musician and music industry insider who recently published a profoundly moving family memoir titled O Brother, but is still most renowned for his grimly comic 2008 record-biz novel Kill Your Friends. double quotation mark In what becomes a running joke, Noel calls risotto rice cooked in Bovril Turned into a film in 2015, the story drew on all the excess and venality of the period The Battle is set in. What this new work most vividly deals in, though, is the eternal British fixation with class, which the Blur-Oasis clash was steeped in, something proved by a skip through the mountain of press coverage. As well as comparisons with the Beatles and Rolling Stones, this subtext was everywhere. The Guardian’s most pointed headline was, “Working-class heroes lead art-school trendies”, while in the eyes of the long-defunct To...
Rail passengers planning to travel over the Easter break face disrupted journeys owing to a six-day shutdown on Britain’s biggest intercity line. Engineering work means that there will be no mainline services on the west coast mainline between London Euston and Milton Keynes from Good Friday (3 April) to Wednesday 8 April. There will also be no service between Preston and Lancaster on the line on ...
Rail passengers planning to travel over the Easter break face disrupted journeys owing to a six-day shutdown on Britain’s biggest intercity line. Engineering work means that there will be no mainline services on the west coast mainline between London Euston and Milton Keynes from Good Friday (3 April) to Wednesday 8 April. There will also be no service between Preston and Lancaster on the line on 4-5 April. Network Rail said the work, part of a £400m project to boost the reliability of the line, was vital and that bank holidays were chosen for such works because they were among the least busy times to close. “The four-day period at Easter gives us a valuable opportunity to complete projects that simply can’t be delivered during a normal weekend,” said Jake Kelly, the body’s regional director for the north-west and central region. “This ensures we maximise the time our teams are out working on the tracks.” New track will be laid at Willesden, north London, while there will be repairs and upgrades at Harrow and Wealdstone station. A bridge in Ledburn, Buckinghamshire, will be given extra protection to prevent future damage. Network Rail shut the west coast mainline for four days over the Easter break last year. “We know how important bank holidays are – particularly at Easter, when families and friends come together,” Kelly said. “That’s why we work hard to keep as much of the network open as possible while carrying out these vital upgrades.” Elsewhere on Great Britain’s rail network, engineers will be involved in more than 270 other upgrade projects over the Easter period. Avanti West Coast will run services between Preston and Carlisle via the Settle and Carlisle line. Anglo-Scottish services will be diverted via Dumfries and Kilmarnock between Good Friday and Easter Monday. Over the same period, services between London Waterloo and Clapham Junction will be reduced, and there will be no trains between Winchester and Southampton in Hampshire, or between Herne Bay and...
Meta Platforms, Inc. is building human connections, powered by artificial intelligence and immersive technologies. The Company's products enable people to connect and share with friends and family through mobile devices, personal computers, virtual reality (VR) and mixed reality (MR) headsets, augmented reality (AR), and wearables. It also helps people discover and learn about what is going on in ...
Meta Platforms, Inc. is building human connections, powered by artificial intelligence and immersive technologies. The Company's products enable people to connect and share with friends and family through mobile devices, personal computers, virtual reality (VR) and mixed reality (MR) headsets, augmented reality (AR), and wearables. It also helps people discover and learn about what is going on in the world around them, enabling people to share their experiences, ideas, photos, videos, and other content with audiences ranging from their closest family members and friends to the public at large. The Company's segments include Family of Apps (FoA) and Reality Labs (RL). FoA segment includes Facebook, Instagram, Messenger, WhatsApp and Threads. RL segment includes its virtual, augmented, and mixed reality related consumer hardware, software and content. Its product offerings in VR include its Meta Quest devices, as well as software and content available through the Meta Horizon Store. Show More
Dow Jones futures fell modestly Friday morning, along with S&P 500 futures and Nasdaq futures as crude oil prices continued to surge on the Iran conflict. The February jobs report is due before the open.
Dow Jones futures fell modestly Friday morning, along with S&P 500 futures and Nasdaq futures as crude oil prices continued to surge on the Iran conflict. The February jobs report is due before the open.
Oil continues to surge with shipping through the Strait of Hormuz at a near-total halt as the war in the Middle East unleashes a wave of disruption across energy markets. Will Kennedy reports on Bloomberg Television. (Source: Bloomberg)
Oil continues to surge with shipping through the Strait of Hormuz at a near-total halt as the war in the Middle East unleashes a wave of disruption across energy markets. Will Kennedy reports on Bloomberg Television. (Source: Bloomberg)