Streetbeat News

Credit

REI

Ring Energy Inc. announced that its borrowing base has been reaffirmed at $600 million under its $1.0 billion senior revolving credit facility.

Portfolio Pulse from Benzinga Newsdesk

December 21, 2023 | 11:49 am

FXI

The People's Bank of China (PBOC) has announced its intention to maintain reasonably ample liquidity and ensure that credit growth remains reasonable. This move is aimed at stabilizing the financial markets and supporting economic growth in China.

Portfolio Pulse from Charles Gross

December 21, 2023 | 10:58 am

IVA

Inventiva has announced the randomization of the first patient in China for the NATiV3 Phase III clinical trial, which has triggered a milestone payment of $3 million from CTTQ. This payment enables Inventiva to meet the conditions required to draw the second €25 million tranche of its loan from the European Investment Bank (EIB).

Portfolio Pulse from Benzinga Newsdesk

December 20, 2023 | 9:04 pm

ABR

CMTG

REM

XLRE

U.S. mortgage rates have dropped to a 6-month low, with the average 30-year fixed mortgage rate falling to 6.83%. This decline is attributed to positive inflation news and the Federal Reserve's indication of future rate cuts. Mortgage applications are up 18% year-over-year despite a recent 1.5% slowdown. Real estate stocks have surged, with the Real Estate Select Sector SPDR Fund (XLRE) and iShares Mortgage Real Estate ETF (REM) seeing significant gains. Arbor Realty Trust Inc. (ABR) and Claros Mortgage Trust Inc. (CMTG) have also experienced notable stock price increases.

Portfolio Pulse from Piero Cingari

December 20, 2023 | 3:06 pm

GPMT

Granite Point Mortgage Trust (GPMT) resolved a $93M nonaccrual senior loan through a sale of the collateral San Diego office property. They provided a $49M senior floating rate loan to the new owners. GPMT expects a $30M loss, largely covered by prior reserves, impacting Q4 2023 results.

Portfolio Pulse from Benzinga Newsdesk

December 19, 2023 | 9:51 pm

USDCUSD

USDTUSD

Bank of Korea Governor Rhee Chang-yong expressed concerns about the impact of stablecoins like USDT and USDC on central banking operations at a conference. He highlighted the risks they pose to financial stability and the effectiveness of monetary policies, especially with the involvement of global networks such as Visa and Mastercard. Rhee also discussed South Korea's pilot projects for retail and wholesale CBDCs using DLT and the potential benefits of programmability through smart contracts.

Portfolio Pulse from Murtuza Merchant

December 19, 2023 | 6:39 pm

SPY

Federal Reserve Bank of Atlanta President Raphael Bostic stated that while the Fed's inflation target is 2%, this is not the only possible target. However, he emphasized that the current target will be maintained until price stability is achieved.

Portfolio Pulse from Benzinga Newsdesk

December 19, 2023 | 6:19 pm

SPY

Federal Reserve Bank of Atlanta President Raphael Bostic stated that it is not the appropriate time to consider altering the central bank's inflation goal. He emphasized that while the goal should not be set in stone, the current focus should be on addressing the high inflation rates.

Portfolio Pulse from Benzinga Newsdesk

December 19, 2023 | 6:17 pm

CRDT

EWU

IHY

PGHY

PICB

SPY

PIMCO CIO Daniel Ivascyn has expressed concerns about a potential 'hard landing' for the UK economy, predicting a significant downturn next year. He sees more risk in the UK and Europe compared to the resilient US economy. Ivascyn favors UK government bonds over US ones, anticipating economic hardship in the UK. The UK economy contracted in October, and bond yields have fallen, which is good for bondholders but negative for equities. Investors in the iShares MSCI United Kingdom ETF (EWU) should monitor these developments. Ivascyn also highlighted opportunities in global bond investing, mentioning ETFs that track international bonds, including PICB, PGHY, CRDT, and IHY. In contrast, the US economy's growth is reflected in the SPDR S&P 500 ETF (SPY), which has outperformed EWU over the past year.

Portfolio Pulse from Surbhi Jain

December 19, 2023 | 6:05 pm

SPY

VGK

Ukraine's President Zelenskiy expressed uncertainty about the end of the war, emphasizing the need for resilience to hasten its conclusion. He is confident in the continued financial support from the U.S. and Europe, highlighting Ukraine's special relationship with these regions.

Portfolio Pulse from Benzinga Newsdesk

December 19, 2023 | 4:29 pm