JPMorgan Chase & Co. is weighing options for a fresh debt sale for Qualtrics International Inc. after underwriters got stuck with more than $5 billion of loans earlier this year.
US producer prices rose in September at the fastest pace in more than four years as higher energy costs reverberated through the US economy.
The producer price index advanced 1.3% from a month earlier — the most since March 2022 — and 6.3% from a year earlier, according to Bureau of Labor Statistics data.
Stephanie Roth, Chief Economist at Wolfe Research, reacts to the data. (Source: Bloomberg)
On this episode of Stock Movers:
– CoreWeave (CRWV) shares are continuing their slide amid a major issue with their debt. CoreWeave’s debt has weakened in recent months, with credit-default swaps pricing in a more than 50% chance of default within the next five years, and the company’s bonds now yield 15% — a level that is practically unheard of in the primary market for new debt.
– Taiwan Semiconductor Manufacturing (TSMC) shares are moving after it delivered a better-than-expected revenue outlook, projecting sales of as much as $54.3 billion in the December quarter. Still, the company’s upbeat projection failed to stem a global tech stock rout.
– RocketLab (RKLB) is falling as it delayed the debut of its Neutron rocket, pushing the vehicle’s first flight to 2027. CEO Peter Beck said the company won’t rush to the pad with unnecessary risk, and that development programs like Neutron have their challenges. (Source: Bloomberg)
Bitcoin briefly slid below $80,000 for the first time in almost a month, swept up in a broader retreat from risk assets as an AI-led selloff on Wall Street undercut crypto’s attempt to rebuild a bullish tone.
As old alliances are tested and the global balance of power shifts, this could be an opening for India to expand its influence.
At the Bloomberg #NewEconomyForum, leaders laid out how and the challenges that could stand in its way. Haslinda Amin has more from New Delhi. (Source: Bloomberg)
Winter heating, summer driving, spring planting, autumn harvest: the main seasonal patterns in commodities and why they’re context, not a trading rule.
Fewer shorts, buybacks ending, no inflows and too many longs imply no recovery is imminent, says a JPMorgan strategist.
Malaysia’s central bank governor Abdul Rasheed Ghaffour told Blomoberg’s Avril Hong that the central bank has greater room to adjust interest rates after changing its policy guidance last month and stands ready to act if inflation pressures intensify as the Middle East conflict keeps energy prices elevated. Speaking at the sidelines of the International Monetary Fund and World Bank meetings in Bangkok, the governor said policy decisions will remain data-dependent, with the monetary policy committee assessing the latest information at each meeting. (Source: Bloomberg)
Chancellor of the Exchequer John Healey discusses the International Monetary Fund’s comments that the UK is the “country that basically stands out” for plotting a path to bring down borrowing. Speaking to Bloomberg’s Lisa Abramowicz in Bangkok, Healey also discusses the importance of banks to the British economy, declining to comment on potential tax measures in the government’s Oct. 28 budget. (Source: Bloomberg)
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