China Borrows on a US Par
China Borrows on a US Par
China has issued $ 2 billion in sovereign bonds at yields equivalent to US treasuries. The three- and five-year debt was issued in Saudi Arabia and was twenty times over-subscribed. US treasuries have also been considered the benchmark for risk-free securities. Is the market starting to challenge this assumption?
Klarna Files IPO Papers
Swedish buy now pay later fintech, Klarna, has filed documentation with the US SEC as it prepares for an initial public offering. It is anticipated that the business will be valued at close to $22 billion. Its value has fluctuated between $6.7 billion and $47 billion in the last three years! The company has been rocked by governance challenges, increasing interest rates and regulatory scrutiny. It is using AI to significantly cut costs.
ETF Records Smashed
According to State Street, the market for exchange traded funds has reached $1.4 trillion. This compares to $1.33 trillion as at the end of 2021. Following Trump’s election last week, a one-day record of $22.2 billion was set.