Category: Finance

The rates trade is back in focus for stock investors

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Wall Street is worried that the rates trade could once again drag down stocks.

The 10-year Treasury yield (^TNX) has risen roughly 25 basis points in the last 10 days alone. It’s now hovering around 4.32%, just shy of levels Morgan Stanley chief investment officer Mike Wilson recently noted could be a critical level for stock investors.

“We view 4.35% on the 10-year US Treasury yield as an important technical level to watch for signs that rate sensitivity may increase for equities,” Wilson wrote in a note to clients on Sunday.

Bank of America’s March Global Fund Manager Survey released

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Unilever bought Ben & Jerry’s 24 years ago. Now it’s exiting the ice cream business.

Posted on by arijoeam

Unilever’s ownership of quirky ice cream maker Ben & Jerry’s is coming to the end of its sometimes rocky road. The British consumer products company said Tuesday it plans to spin off the brand as well as its other ice cream businesses.

In its announcement, Unilever said the decision is based on its board’s view that the company should focus on “superior brands with strong positions in highly attractive categories that have complementary operating models.” The spinoff will include Unilever’s additional ice cream brands, such as Magnum and Cornetto.

The ice cream businesses have “a very different operating model, and

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Kolibri Global Energy Inc. Announces Anticipated Late Filing of Financial Statements

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THOUSAND OAKS, Calif., March 20, 2024–(BUSINESS WIRE)–Kolibri Global Energy Inc. (the “Company“) announced today that it will likely miss its filing deadline of April 2, 2024 to file audited annual financial statements and accompanying management’s discussion and analysis and related CEO and CFO certificates for the financial year ended December 31, 2023 (collectively, the “Annual Filings“), as required under applicable Canadian securities laws.

In connection with the Company’s inability to file the Annual Filings on time, the Company has applied for a Management Cease Trade Order (“MCTO“) under National Policy 12-203 – Management

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L&T Finance declares fund raise not exceeding ₹1.01 lakh crore via NCD. Details here

Posted on by arijoeam

The board of directors of L&T Finance on Monday considered and approved the proposal for fundraising to the tune of ₹1.01 lakh crore. The company board gave its approval for the raising of funds not exceeding the above-mentioned figure through the issuance of nonconvertible debentures (NCDs) in one or more tranches. The company informed the Indian stock market exchanges about the development in an exchange filing.

L&T Finance fundraising details

Informing Indian exchanges about the fundraising move, L&T Finance said, “Pursuant to Regulations 30 and 51, read with Schedule III of the SEBI (Listing Obligations and Disclosure Requirements) Regulations,

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High-yield borrowers tap offshore bonds as investor appetite improves | Finance News

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bonds

Financial sector firms Indiabulls Housing Finance and Shriram Finance are also in talks, these bankers said.

From renewable power to financial firms, a number of Indian borrowers are ready to tap the high-yield offshore bond market, taking advantage of strong investor appetite amid a drop in supply from Asian peers, bankers said.

The increased interest, visible in strong subscriptions for issues this year, is likely to push up offshore bond fund raising by Indian firms after it hits a 14-year low in 2023.

“We expect there to be $15 to $20 billion in India dollar denominated bonds in 2024, which

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Govt considers changing SARFAESI, DRT; to provide legal weight to e-notices | Finance News

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To speed up the debt recovery process, the Finance Ministry has set up a panel to suggest amendments to the SARFAESI and DRT Acts, including a provision for granting legal sanctions to e-notices to debtors, sources said.

The committee headed by an Additional Secretary held several meetings, and discussions are in the advanced stage in this regard, sources told PTI.

Last month, the Finance Ministry held extensive deliberations with the top brass of banks and Debt Recovery Tribunals (DRTs) to enhance the efficacy of DRTs for expeditious recovery of debts.

“We have formed a committee led by the Additional Secretary

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Marco Secures $12M in Series A Funding to Revolutionize LatAm SME Trade Finance

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Since launching in 2020, Marco has surpassed $540M in cumulative volume funded, across 63k+ receivables and against 1,700+ primarily investment-grade debtors

MIAMI, March 19, 2024 /PRNewswire/ — Marco, the trade finance platform catering to the needs of SME exporters in Latin Americahas announced the successful closure of a $12 million Series A funding round. The round was led by IDC Ventures, with additional participation from IDB Lab (the innovation and venture laboratory of the Inter-American Development Bank Group), Barn Invest, SquareOne Capital, Arcadia Funds, Florida Funders, Miami Angels, Kayyak Ventures, and Neer Ventures, among others.

Founded in 2020

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The S&P 500 is up 5 months straight — and history favors momentum

Posted on by arijoeam

This is The Takeaway from today’s Morning Brief, which you can sign up to receive in your inbox every morning along with:

Since October, stocks have climbed the wall of worry and closed each month in the green — brushing aside concerns over inflation, recession, corporate earnings, Fed hiking, Fed easing, and the like. Barring disaster, Friday’s settlement will extend this winning streak to five months.

Over this brief period, the S&P 500 has rocketed 25% higher, leading reasonable investors to question if the market has moved too far too quickly.

History answers resoundingly once again for those who would

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