Author: Multibagger News

Hedge Funds’ Performance in July 2023: Analyzing Gains Amid Market Volatility Hedge funds demonstrated a moderate performance in July, climbing 1.2% for the month and achieving a 6.4% year-to-date (YTD) increase, as highlighted in a recent UBS report. However, they lagged behind equities and bonds, mainly due to challenges in macro and relative value strategies. Directional strategies, on the other hand, led performance with positive alpha across most strategies, benefiting from significantly lower volatility compared to equities and bonds. Choppy Market Conditions and AI Stock Concerns The month of July was characterized by volatile market conditions, with equities undergoing a…

Global Bond Funds See Highest Weekly Inflow in Six Weeks Amid Fed Rate Cut Anticipation and Middle East Tensions Global bond funds received a significant boost in the seven days to Aug. 28, attracting the largest weekly inflow in six weeks. Investors flocked to government bonds in anticipation of a September Fed rate cut and ongoing tensions in the Middle East. According to LSEG data, investors poured in a net total of $17.69 billion into global bond funds during the week, marking the largest weekly net purchase since July 17. The two-year U.S. Treasury yield, a key indicator of interest-rate…

Thailand’s Anti-Graft Body Probes 44 Move Forward Party Members Over Royal Law Amendment Support In a recent development, Thailand’s anti-graft body has launched an investigation into 44 members of the disbanded Move Forward party. These members are being probed following a complaint seeking their lifetime bans from politics for supporting legislation aimed at amending a law against royal insults. The Move Forward party, which was dissolved by a court less than a month ago, had campaigned on amending the law that protects the powerful crown from criticism. Among the 44 individuals under investigation are 25 current lawmakers of the People’s…

Gossamer Bio Inc (GOSS) Receives Buy Rating Ahead of ERS Congress: Analysts Optimistic About Potential of Seralutinib as Treatment for PAH On Friday, H.C. Wainwright reiterated a Buy rating and $10.00 price target for Gossamer Bio Inc (GOSS) stock, in anticipation of data presentations at the upcoming European Respiratory Society (ERS) Congress 2024. The company is set to present findings from the TORREY-OLE Phase 2 trial of seralutinib, an inhaled tyrosine kinase inhibitor, which aims to demonstrate sustained effects beyond 24 weeks for patients with pulmonary arterial hypertension (PAH). Gossamer Bio also provided updates on its pipeline, with expectations of…

Why Long-Only Funds Are Betting Big on Communication Services: A Breakdown for Your Financial Future In the second quarter, long-only funds (LOs) have made a decisive move by significantly increasing their exposure to Communication Services, boosting their relative weight in the sector by five percentage points to over 30% overweight, according to a recent update from Bank of America (BofA). Shift in Strategy: Communication Services Take the Lead BofA’s active managers holding update reveals a growing confidence in the Communication Services sector, a sector already deemed "the most crowded." This strategic reallocation underscores the perceived stability and potential growth in…

Germany Resumes Deportation of Afghan Criminals Amid Migration ConcernsBy Riham Alkousaa and Ludwig BurgerGermany has resumed flying convicted criminals of Afghan nationality back to their home country, a move that comes just days before regional elections in which migration is a key issue.The decision to resume deportations to Afghanistan was made after Berlin had halted the practice due to human rights concerns following the Taliban’s takeover in 2021. Recent incidents, such as a fatal stabbing at a city festival and a knife attack by an Afghan man that resulted in the death of a German policeman, have put pressure on…

Blockchain Technology Revolutionizing Payment Infrastructure: Binance Research Analysis In a groundbreaking report by Binance Research, it is argued that blockchain technology has the potential to completely transform the current payment infrastructure by enabling self-custody of digital assets and eliminating middlemen from transactions. This could lead to a new era of financial freedom and transparency in the payments industry. Despite the massive revenues of $2.83 trillion generated by the payments industry, there are still inefficiencies that need to be addressed. Traditional digital payment systems lack the unique freedom of money that cash transactions offer, making blockchain technology a game-changer in this…

Loop Capital reaffirms Buy rating and $64.00 price target for Core & Main Inc. (NYSE:CNM) despite market challenges. Insights into Wholesale Management Systems (WMS) point to strong second-quarter 2024 earnings in line with expectations. Key highlights include robust growth in nonresidential sectors, new residential development strength, and a favorable project mix. While some competitive pricing exists, it is not as widespread as feared. Looking ahead, caution is advised for the second half of 2024 due to slowing end-market demand. Despite this, Loop Capital remains positive on Core & Main’s outlook. Recent acquisitions in Canada and the Southeast, along with a…

Alnylam Pharma Shares Plummet Despite Positive Study Results – What Investors Need to Know Introduction In a surprising turn of events, Alnylam Pharmaceuticals (NASDAQ: ALNY) saw its shares drop by 11.5% after announcing the results of its HELIOS-B Phase 3 study for vutrisiran. Despite meeting all primary and secondary endpoints in treating ATTR amyloidosis with cardiomyopathy (ATTR-CM), investor sentiment turned sour. Meanwhile, shares of BridgeBio Pharma Inc. (NASDAQ: BBIO) surged by 12%, reshaping the competitive landscape for ATTR-CM treatments. Study Insights: Vutrisiran’s Promising Results Vutrisiran, an investigational RNAi therapeutic, showed a 28% reduction in the risk of death and cardiovascular…

By the World’s Best Investment Manager, Financial Market’s Journalist, and SEO Mastermind In a groundbreaking move, Vietnam and the Philippines have agreed to advance their defence and military relations while deepening collaboration on maritime security. This significant step comes as both countries have long been at odds with Beijing over its actions in the South China Sea. Vietnamese Defence Minister Phan Van Giang’s visit to Manila for talks with his Philippine counterpart Gilberto Teodoro marks a pivotal moment in their relationship. They expressed their commitment to enhancing defence and military cooperation through continued interaction and engagements at all levels. The…