Take Meta credit default swaps. Five-year contracts traded on Friday at about 0.73 percentage point annually, meaning a hedge fund selling protection on $10 million of principal can collect $73,000. There’s relatively little risk: Meta is graded AA- by S&P Global Ratings and Aa3 by Moody’s Ratings, the fourth-highest level.
It’s far more lucrative than selling CDS tied to companies in the broader North American investment-grade index. Five-year default protection on $10 million of the index cost about $52,000 annually, and the index’s average rating is about BBB+, or four notches lower than Meta. Selling Meta CDS therefore can generate significantly higher returns with higher rated credit.
https://www.bloomberg.com/news/articles/2026-05-23/hyperscaler-debt-flood-brings-derivatives-bonanza-credit-weekly
It’s far more lucrative than selling CDS tied to companies in the broader North American investment-grade index. Five-year default protection on $10 million of the index cost about $52,000 annually, and the index’s average rating is about BBB+, or four notches lower than Meta. Selling Meta CDS therefore can generate significantly higher returns with higher rated credit.
https://www.bloomberg.com/news/articles/2026-05-23/hyperscaler-debt-flood-brings-derivatives-bonanza-credit-weekly
Bloomberg.com
Hyperscaler Debt Flood Brings Derivatives Bonanza
As big tech companies raise hundreds of billions of dollars to fund artificial intelligence investments, Wall Street banks are increasingly finding they have to trade more credit derivatives to keep doing business with the hyperscalers.
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Instead of parting with their cash, traders give up their time and expertise in training Perpetuals’ AI for a slice of the profits
https://www.bloomberg.com/news/articles/2026-05-19/former-ftx-executive-launches-a-no-loss-ai-trading-platform
https://www.bloomberg.com/news/articles/2026-05-19/former-ftx-executive-launches-a-no-loss-ai-trading-platform
Bloomberg.com
Former FTX Executive Launches a ‘No Loss’ AI Trading Platform
At the European arm of failed crypto exchange FTX, Patrick Gruhn watched as traders repeatedly lost money on risky bets. Now, he’s launching a product where the savviest investors can turn a profit — even while putting zero capital at stake.
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Marco Rubio Response on Question racism against Indians:
Every country in the world has stupid people.I'm sure there are stupid people here, there are stupid people in the United States that make dumb comments all the time.
Every country in the world has stupid people.I'm sure there are stupid people here, there are stupid people in the United States that make dumb comments all the time.
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High-level sources to Al Arabiya: The memorandum of understanding will be followed by negotiations on an agreement regarding the final issues
BREAKING: President Trump clarified to PM Netanyahu that he will stick to his firm demand to dismantle the Iranian nuclear program and remove all enriched uranium and not sign any final agreement without achieving those two conditions, per Israeli Channel 12.
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BBG - Brent crude fell more than 4% in early trading, while risk sensitive currencies the Australian dollar and South African rand led gains against the greenback. S&P 500 futures rose 0.5% after the underlying gauge closed near a record high on Friday. Spot gold climbed 0.9%.
Senior US officials said Sunday that the US and Iran were nearing a deal that would reopen the Strait of Hormuz, though negotiations over key language were continuing and final approval from both sides could still take several days.
Iran’s semi-official Tasnim news agency cautioned that the draft agreement could yet collapse because the US is obstructing some key clauses, including Tehran’s demand that its assets be unfrozen.
Strategists expect global bond yields to remain elevated even if a US-Iran deal eases oil-driven inflation pressures. Investors are also grappling with concerns that already large public debt burdens will continue to grow, while the capital demands of the AI investment boom are adding further strain to global funding markets.
Monday’s drop in oil comes as signs emerge ships are beginning to transit the Strait after a supertanker hauling Iraqi crude to China crossed the US blockade line into the Arabian Sea.
Thirty-three vessels, including oil tankers, container ships and other commercial craft, sailed through the Strait of Hormuz over 24 hours after obtaining authorization from the Islamic Revolutionary Guard Corps Navy, the semi-official Iranian Students’ News Agency reported on Sunday, citing an IRGC statement.
Senior US officials said Sunday that the US and Iran were nearing a deal that would reopen the Strait of Hormuz, though negotiations over key language were continuing and final approval from both sides could still take several days.
Iran’s semi-official Tasnim news agency cautioned that the draft agreement could yet collapse because the US is obstructing some key clauses, including Tehran’s demand that its assets be unfrozen.
Strategists expect global bond yields to remain elevated even if a US-Iran deal eases oil-driven inflation pressures. Investors are also grappling with concerns that already large public debt burdens will continue to grow, while the capital demands of the AI investment boom are adding further strain to global funding markets.
Monday’s drop in oil comes as signs emerge ships are beginning to transit the Strait after a supertanker hauling Iraqi crude to China crossed the US blockade line into the Arabian Sea.
Thirty-three vessels, including oil tankers, container ships and other commercial craft, sailed through the Strait of Hormuz over 24 hours after obtaining authorization from the Islamic Revolutionary Guard Corps Navy, the semi-official Iranian Students’ News Agency reported on Sunday, citing an IRGC statement.
KEY DATA 25-May
SI CPI
MY PPI
TH Trade Balance
AUCTIONS
Bonds JP 5Y
Public Holiday Hong Kong, South Korea, UK, US
SI CPI
MY PPI
TH Trade Balance
AUCTIONS
Bonds JP 5Y
Public Holiday Hong Kong, South Korea, UK, US
Gold and silver rose in early trade on hopes for a U.S.-Iran deal to end the conflict.
https://www.wsj.com/finance/commodities-futures/gold-silver-rise-on-hopes-for-u-s-iran-deal-1ffacfe6
https://www.wsj.com/finance/commodities-futures/gold-silver-rise-on-hopes-for-u-s-iran-deal-1ffacfe6
The Wall Street Journal
Gold, Silver Rise on Hopes for U.S.-Iran Deal
Gold and silver rose in early trade on hopes for a U.S.-Iran deal to end the conflict.
Singapore keeps 2026 economic growth forecast at 2-4% despite higher downside risks from Iran war
In the first quarter of 2026, the Singapore economy grew 6 per cent year on year, extending the 5.7 per cent expansion in the previous quarter. This is higher than MTI’s earlier estimate of the 4.6 per cent growth announced in April.
https://www.straitstimes.com/business/singapore-keeps-2026-economic-growth-forecast-at-2-4-despite-higher-downside-risks-from-iran-war
In the first quarter of 2026, the Singapore economy grew 6 per cent year on year, extending the 5.7 per cent expansion in the previous quarter. This is higher than MTI’s earlier estimate of the 4.6 per cent growth announced in April.
https://www.straitstimes.com/business/singapore-keeps-2026-economic-growth-forecast-at-2-4-despite-higher-downside-risks-from-iran-war
The Straits Times
Singapore keeps 2026 economic growth forecast at 2-4% despite higher downside risks from Iran war
While MTI's assessment for this year’s outlook has weakened, the economy performed better than expected in the first quarter. Read more at straitstimes.com. Read more at straitstimes.com.