The private credit industry has experienced a rapid expansion, raising concerns about how it will fare during a downturn. One of the most pressing concerns is the lack of prior experience with a significant economic setback. This raises questions about how borrowers will be impacted in a crisis situation. During JPMorgan’s Investor Day, Chairman and
In May, the Nasdaq100 index once again demonstrated significant growth in US markets, which also had a positive impact on global markets. The index neared the 19,000 level, showing an increase of over 11% from the lows seen on April 19. However, a wave of selloffs caused a 2% decline in the index from its
In recent weeks, the 10-year JGB yield has shown an upward trend, reaching 1%, while the 3-month and 6-month overnight indexed swap (OIS) rates in Japan stand at 0.12% to 0.17%. Despite these bullish movements in JGB yields and OIS rates, the Japanese Yen (JPY) has failed to strengthen. The main drivers of short-term JPY
Norfolk Southern has reached an agreement to pay $310 million in order to resolve charges related to a toxic train derailment that occurred in East Palestine, Ohio in February 2023. This settlement includes various components, such as covering past and future cleanup costs, paying a civil penalty for Clean Water Act violations, and implementing measures
The recent report from the Labor Department indicates that the number of Americans filing new claims for unemployment benefits has decreased once again. This trend suggests that there is an underlying strength in the labor market that is expected to continue supporting the overall economy. While there has been a slowdown in job growth due
Nvidia had an impressive quarter with its data center revenue soaring by 427%. The company’s first-quarter revenue of $26.04 billion surpassed Wall Street estimates, showing that there is still a strong demand for its artificial intelligence chips. This led to the stock price jumping by more than 10% in a single day. The company’s guidance
After the release of the minutes from the latest US Federal Reserve meeting, the price of gold fell to $2370.00 per troy ounce. The Fed’s policymakers displayed a notably cautious sentiment, indicating the need for more time to be confident that US inflation is declining towards the 2% target. This cautious stance has tempered market
Asian markets experienced a downturn on Thursday as investors grappled with the impact of major economies choosing to adopt a cautious approach towards monetary easing amidst concerns of persistent inflation. The MSCI’s broadest index of Asia-Pacific shares outside Japan dropped by 0.57%, with Australia’s S&P/ASX 200 index witnessing a decline of 0.8%. The reluctance of
When it comes to the value of the New Zealand Dollar (NZD), various economic factors play a crucial role in determining its strength and weaknesses. The government’s deficit, fiscal policies, and external influences all contribute to the fluctuations of the Kiwi in the foreign exchange market. Government’s Deficit and Fiscal Policies Finance Minister Nicola Willis
Recently, the Financial Conduct Authority (FCA) in the UK has granted approval to WisdomTree to list exchange-traded products (ETPs) that are backed by cryptocurrencies like Bitcoin and Ether on the London Stock Exchange. This decision has sparked a lot of discussions and speculations among investors and regulatory bodies alike. The approval of these ETPs comes
The NZD/USD pair has shown signs of preparing for a mid-week rally, nearing the 0.6116 level. This recent surge marks the highest point for the Kiwi in two months, following the Reserve Bank of New Zealand’s decision to maintain its monetary policy structure unchanged during the May meeting. With the interest rate remaining steady at
The Consumer Financial Protection Bureau recently declared that customers of the buy now, pay later industry are entitled to the same federal protections as credit card users. This development has significant implications for the rapidly growing sector, which is currently dominated by fintech firms like Affirm, Klarna, and PayPal. The regulatory framework put forth by