Fixed income

Multicoin Cap

2026-08-22 02:12:33

Tushar Jain says STRC still has not repegged despite BTC rally

Multicoin Capital co-founder Tushar Jain said STRC has not returned to its peg even though BTC has posted a sharp rise. He attributed the gap to STRC’s dividend level, which he said remains too low. Jain also pointed to the product’s past drawdown of about 30%, arguing that a vehicle marketed as fixed income needs to offer meaningfully higher yield if investors are expected to absorb that level of downside. His comments frame the repeg issue as a compensation problem: without stronger income, the product does not offer enough return to match the risk it has already shown it can carry.

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AI

2026-08-20 07:00:00

AI debt wave may put the next real test for U.S. Treasuries in September

A temporary reprieve in the U.S. Treasury market may not last long. After the Treasury said it would expand long-dated bond buybacks, market tension eased, helping stocks rebound while gold and Bitcoin moved higher and the 10-year yield edged down. But several investors and strategists say the bigger challenge may arrive after Labor Day, when the U.S. investment-grade primary market typically becomes busy and AI-driven financing demand from large technology companies accelerates. Market participants cited in the report said September investment-grade corporate bond issuance could reach $200 billion, with a large share tied to AI capital spending. Issuance this year is already up 38% from a year earlier and could hit a record $2.1 trillion for 2026, according to asset managers cited by the article. Firms including Microsoft, Alphabet, Amazon, Meta and Oracle have been raising long-term debt to fund data centers, advanced chips and AI services. That supply is now colliding with a Treasury market already under pressure from a wider fiscal deficit, firmer inflation expectations and uncertainty around Federal Reserve policy. Some managers warn AI-related debt supply is nearing the market’s limit, while others see growing competition between long-dated corporate paper and Treasuries, especially as some issuers carry credit ratings that can rival or exceed the U.S. government.

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Asset Tokeniz

2026-08-12 06:09:58

Itaú Joins ANBIMA Pilot to Tokenize Brazilian Fixed-Income Securities

Latin America's largest private bank, Itaú, has joined an ANBIMA-led pilot to tokenize Brazilian fixed-income securities, working with OpenAssets. The initiative will examine blockchain's role in fixed-income assets, and it suggests traditional lenders are accelerating their move into asset tokenization. Cointelegraph reported.

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Itau

2026-08-11 19:11:58

Itaú joins OpenAssets in Brazil tokenization test for fixed-income products and funds

Itaú, the largest bank in Latin America by assets, is working with OpenAssets in an industry-led test tied to tokenized fixed-income products and investment funds. The report, cited by CoinDesk, says Brazil has become a testing ground for placing bonds, credit and other financial assets on blockchain rails within a regulatory framework. The development points to continued institutional participation in Brazil’s regulated tokenization efforts, with Itaú taking part alongside OpenAssets rather than launching a separate disclosed initiative. The source material does not provide financial terms, a launch date, or technical details of the test, but it identifies the asset classes involved and places the effort within Brazil’s broader regulated experimentation around on-chain financial instruments.

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ICE

2026-08-11 13:39:02

NYSE Parent ICE Launches Investment-Grade Bond Sale Weeks After MarketAxess Deal

Intercontinental Exchange (ICE), the parent company of the New York Stock Exchange, has launched a US investment-grade bond offering, according to Bloomberg, just two weeks after announcing its roughly $6 billion deal to acquire electronic bond trading platform MarketAxess. The bond sale is split into as many as five tranches, with maturities ranging from three to ten years. Initial pricing guidance on the longest-dated notes is set at a spread of about 1.15 percentage points over US Treasuries. ICE said earlier it would buy MarketAxess Holdings for around $6 billion to expand in fixed-income trading. MarketAxess is one of the world's leading electronic bond trading venues, serving institutional investors with corporate and government debt products. The acquisition is seen as a key step in ICE's push to strengthen bond market infrastructure. ICE already operates the NYSE, futures exchanges, clearing houses and data services; MarketAxess's electronic network would broaden its fixed-income ecosystem. Market participants say traditional exchange operators are chasing institutional market share through acquisitions as bond trading goes digital, and the financing reflects a broader trend of large financial infrastructure firms using debt markets to back strategic M&A.

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BlackRock

2026-08-09 00:10:33

BlackRock CIO: Negative Payrolls Reflect AI Productivity Revolution, Rate Hikes Pointless

Rick Rieder, BlackRock's global fixed income chief investment officer, said the unexpected drop in U.S. nonfarm payrolls last Friday reflects a 'productivity revolution' driven by the AI era. Companies are learning to boost output without adding staff, he argued, adding that adjusting the federal funds rate won't solve the problem and rate hikes no longer make much sense.

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Berkshire Hat

2026-08-08 12:54:07

Berkshire Hathaway Q2 Net Income Rises to $25.67B, Cash Reserves Drop to $364.7B

Berkshire Hathaway A (BRK.A.N) has reported second-quarter 2026 earnings, showing a sharp jump in net income and a decline in revenue compared with a year earlier. Attributable net income came in at $25.67 billion in Q2, up from $12.37 billion in the year-ago period. Quarterly revenue was $12.98 billion, versus $92.52 billion in Q2 2025. At the end of Q2, Berkshire's cash reserves were $364.7 billion, down from $397 billion at the end of Q1. The company also held fixed-income securities with a fair value of $17.03 billion as of June 30. That total was made up of $3.0 billion in U.S. government bonds, $12.67 billion in foreign bonds and $1.36 billion in corporate bonds. On the equity side, 66% of the portfolio's total fair value sat in five names: American Express, Apple, Bank of America, Alphabet and Coca-Cola. The data was attributed to Jinshi.

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SK Hynix

2026-08-07 02:48:57

SK Hynix Emerges as Major Buyer in Korea’s Corporate Bond Market

SK Hynix has bought between 10 trillion won and 40 trillion won of Korean corporate bonds this year, or about $7 billion to $28 billion, according to Bloomberg citing people familiar with the matter. The scale has turned the memory-chip maker into one of the most significant buyers in the local credit market rather than just a large industrial issuer-side name. The company’s cash and cash equivalents climbed to 88 trillion won at the end of the second quarter, up nearly 62% from the prior quarter, even as it continued capital spending to expand production. Bloomberg’s reporting said SK Hynix’s bond purchases began to accelerate around April, with typical orders ranging from 100 billion won to 300 billion won and focused on investment-grade notes rated AA or above, mostly with maturities of less than three years. Its buying has expanded from one-year paper issued by public institutions and commercial banks to bonds from credit-card companies, securities firms and state-backed entities including Korea Electric Power Corp. Local media also reported large single purchases in June and early August. While that demand has supported liquidity in Korea’s credit market, reports from Korean media said it has also drained supply in high-quality paper and added to concerns about market imbalance.

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