Trading Ideas

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(Bloomberg) — Indian assets suffered a rough start to the week as stocks extended declines as trading resumed after a system-wide halt, and the rupee tumbled to a new low following a lockdown in much of Asia’s third-biggest economy.The S&P BSE Sensex and the NSE Nifty indexes plunged 11% each as of 11:18 a.m. in Mumbai. The gauges must tumble 15% from yesterday’s close to trigger another trading halt, after a 10% fall within minutes of the opening bell triggered a circuit breaker. The currency declined 1.1% after hitting a new low of 76.1550.Prime Minister Narendra Modi and state leaders …read more […]

(Bloomberg) — SoftBank Group Corp. unveiled a plan to raise as much as 4.5 trillion yen ($41 billion) to replenish its coffers and slash debt over the coming year, moving to address investors’ concerns about its exposure to money-losing businesses during the coronavirus pandemic. Its shares surged.The Japanese investment giant said it’s authorized the sale or monetization over the next four quarters of its assets, which include major holdings in corporations from China’s Alibaba Group Holding Ltd. to sharing-economy stalwarts such as Uber Technologies Inc. Billionaire Masayoshi Son’s company also said it was establishing a new share buyback program of …read more […]

SoftBank Group Corp said on Monday it is selling or monetising up to 4.5 trillion yen ($41 billion) in assets to buy back 2 trillion yen of its shares and reduce debt, sending its stock soaring to its biggest daily gain in nearly 12 years. The share buyback will be in addition to the up to 500 billion yen buyback announced earlier this month, in the Japanese tech conglomerate’s biggest ever repurchase, and comes amid pressure from activist hedge fund Elliott Management to improve shareholder returns. The asset sales come during a growing financial squeeze on SoftBank and …read more […]

Mar.23 — Gary Dugan, chief executive officer at Global CIO Office, discusses his investment strategy for volatile markets. He speaks on “Bloomberg Markets: Asia.” …read more […]

Mar.23 — The International Olympic Committee made its most public step yet toward delaying the world’s biggest sporting event. Calling a board meeting on Sunday, The IOC says it started planning changes to Tokyo 2020 with a decision within the next month. Bloomberg’s Chris Anstey reports on “Bloomberg Markets: Asia.” …read more […]

Mar.23 — President Donald Trump didn’t make a direct comment to forgo taxpayer stimulus funds for his network of hotels and golf courses as the coronavirus pandemic ravages the travel industry. He speaks at the Virus Task Force press conference at the White House. …read more […]

(Bloomberg) — India’s stocks tumbled, triggering a trading halt as the the world’s second-most populous nation edged toward a lockdown after the number of coronavirus cases in the country approached 400.The S&P BSE Sensex Index slid 10%, setting off a 45 minute system-wide trading halt as of 9:58 a.m. in Mumbai. The NSE Nifty 50 Index sank 9.6%, tracking declines across the region as the flight from riskier assets continued. The regional MSCI Asia Pacific Index lost 2.4%.Prime Minister Narendra Modi and state leaders over the weekend imposed an almost-complete lockdown, which will probably worsen an economy already set to …read more […]

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(Bloomberg) — A crisis in credit markets deepened on Sunday as a cluster of funds that own mortgage bonds sought to sell billions in assets to meet investor redemptions, sparking pleas for government intervention.The sales included at least $1.25 billion of securities being listed by the AlphaCentric Income Opportunities Fund on Sunday, according to people with knowledge of the sales. It sought buyers for a swath of bonds backed primarily by private-label mortgages as it sought to raise cash, said the people, who asked not to be identified discussing the private offerings. The fund plunged 17% on Friday, bringing its …read more […]

We hate to say this but, we told you so. On February 27th we published an article with the title Recession is Imminent: We Need A Travel Ban NOW and predicted a US recession when the S&P 500 Index was trading at the 3150 level. We also told you to short the market and buy […] …read more […]

We hate to say this but, we told you so. On February 27th we published an article with the title Recession is Imminent: We Need A Travel Ban NOW and predicted a US recession when the S&P 500 Index was trading at the 3150 level. We also told you to short the market and buy […] …read more […]

* Spot gold fell 0.7% to $1,487.83 per ounce by 0101 GMT. * The metal rose as much as 3.1% on Friday as a wave of fiscal and monetary stimulus from central banks across the globe halted a run for cash. * U.S. gold futures rose 1% to $1,499.50 per ounce. …read more […]

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Asian shares slid on Monday as more countries all but shut down in the fight against the coronavirus, threatening to overwhelm policymakers’ frantic efforts to cushion what is clear to be a deep global recession. In a taste of the pain to come, E-Mini futures for the S&P 500 dived 5% at the open to be limit down. MSCI’s broadest index of Asia-Pacific shares outside Japan lost 2%, with South Korea badly hit. …read more […]