Summary: Ackman proposes taking SpaceX public via a SPARC merger Tesla shareholders would receive rights to invest in SpaceX Structure avoids IPO fees, dilution and market timing risk Pershing Square commits $4bn at the same valuation Path created for a future xAI listing Ackman is offering Musk a way to take SpaceX public without Wall Street banks, without IPO…
GBP/USD gains ground after three days of losses, trading around 1.3390 during the Asian hours on Monday. The pair depreciates as the Pound Sterling (GBP) holds ground ahead of the release of the United Kingdom (UK) Gross Domestic Product (GDP) for the third quarter. The British Pound may face headwinds as markets have fully priced in a first interest…
The People’s Bank of China is due to set the daily USD/CNY reference rate at around 0115 GMT (2115 US Eastern time), a fixing that remains one of the most closely watched signals in Asian foreign exchange markets. China operates a managed floating exchange rate system, under which the renminbi (yuan) is allowed to trade within a prescribed band…
Federal Reserve Bank of Cleveland President Beth Hammack said that monetary policy is in a good place to pause and assess the effects of 75 basis points (bps) of rate cuts in the economy during the first quarter, Bloomberg reported on Sunday. Key quotes My base case is that we can stay here for some period of time, until…
Summary Indian equities have entered an unusually low-volatility phase Regulatory curbs have reduced derivatives activity and intraday swings Domestic institutions now dominate ownership as foreign funds exit Equity returns lag global peers despite market stability Options traders are being forced to rethink volatility-selling strategies Info via a Bloomberg (gated) piece. India’s equity market has entered an unusually tranquil phase,…
Pound Sterling’s (GBP) post-BoE push through 1.34 has reversed alongside a broader US Dollar (USD) rebound, leaving GBP/USD back near the middle of its recent range. A narrow 5–4 vote to cut rates underscored how finely balanced policy decisions have become, with markets still leaning toward a follow-up cut in April but showing less conviction beyond that, Scotiabank’s Chief…
KEY POINTS: US CPI surprises to the downside, potentially opening the door for an earlier than expected rate cut US Jobless Claims disagree with NFP report. We’ll get a clearer picture next month. Key technical levels are limiting the upside. Traders are waiting for breakouts. FUNDAMENTAL OVERVIEW The US CPI yesterday surprised to the downside across the board, but…
The Bank of Japan’s (BoJ) 25bp rate hike to a 30-year high of 0.75% failed to support the yen, as cautious guidance from Governor Ueda undercut confidence. Despite rising domestic yields and narrowing US–Japan spreads, the JPY weakened sharply, likely exacerbated by positioning, Scotiabank’s Chief FX Strategists Shaun Osborne and Eric Theoret report. JPY slides despite narrowing yield spreads…
KEY POINTS: US CPI came out much softer than expected, potentially giving the Fed a reason to cut earlier than expected The Fed’s dovish reaction function remains a tailwind for the stock market The Santa Claus rally might be starting, but traders will look for technical breaks to have more conviction FUNDAMENTAL OVERVIEW The US CPI yesterday surprised to…
The GBP/USD pair hovers around familiar levels, yet it has dropped below the 1.3400 mark on Friday after Retail Sales in the UK missed estimates and Federal Reserve (Fed) speakers crossed the wires. At the time of writing, the pair trades at around 1.3370, virtually unchanged. Sterling eases after disappointing UK consumption data, while cautious BoE and Fed rhetoric…
