The AI investment boom is entering a riskier phase, as Big Tech increasingly relies on external capital to fund surging costs — a shift that raises bubble risks, according to Greg Jensen, Co-CIO of Bridgewater Associates. “There is a reasonable probability that we will soon find ourselves in a bubble,” Jensen wrote. 🔹 Why the...
Phillips 66 has approved a $2.4 billion capital budget for 2026, slightly above its 2025 outlook, as the company sharpens its focus on midstream expansion and higher-return refining projects. The move reinforces the U.S. refiner’s strategy to enhance margins, cash flow, and shareholder returns, CEO Mark Lashier said. 🔹 Capital Allocation Shift 🔹 Key Midstream...
Hedge funds reduced exposure to tech stocks in Japan and Hong Kong last week, just ahead of a sharp decline in the Hang Seng and Nikkei indices, according to a Goldman Sachs client note. The move came as concerns over stretched tech valuations and a potential AI bubble intensified. 🔹 Key Flow Signals 🔹 Japan:...
ICICI Prudential Asset Management’s $1.2 billion IPO was fully subscribed by day two, underscoring strong institutional appetite for one of India’s largest and most established fund managers. The deal ranks as India’s fourth-largest IPO this year, keeping the country on track for a second consecutive year of record primary market fundraising. 🔹 Key Highlights 🔹...
Foreign investors turned cautious on Indian government bonds last week, posting their largest weekly selloff of index-linked debt in over six months, as expectations for near-term rate cuts faded, bond supply remained heavy, and the rupee weakened. According to clearing house data, foreign funds net sold ₹54.3B (~$600M) of index-linked bonds — the sharpest outflow...
Nomura Holdings is actively exploring private debt asset management acquisitions as it scales its alternatives platform, CEO Kentaro Okuda said, signaling the firm’s next phase of global expansion. With Japan emerging from deflation and interest rates rising, Nomura sees growing demand for direct lending and private credit—areas long dominated by banks domestically but mature overseas....