Trump's Victory Spurs $50B Corporate Bond Surge As Tax Cut Optimism Drives Borrowing Costs To 25-Year Low
In the wake of Donald Trump’s recent election victory, companies are rushing to tap into the US bond market, taking advantage of favorable conditions. Firms such as Caterpillar Inc. CAT, Gilead Sciences Inc. GILD, and Goldman Sachs Group Inc. GS have collectively raised over $50 billion in the past week.
What Happened: The surge in corporate borrowing is driven by a rally in credit and equity markets, which has pushed borrowing costs to historic lows. Investors are optimistic about potential tax cuts boosting profits, leading to a decrease in corporate borrowing costs relative to U.S. Treasuries, reported The Financial Times on Friday. The U.S. investment-grade bond spreads were at 0.8 percentage points late Thursday, nearing their lowest since 1998.
Banks have been quick to capitalize on these conditions, with significant activity in the financial sector.
Why It Matters: The bond market has been experiencing heightened volatility, as evidenced by the MOVE index reaching its highest level in over a year ahead of the U.S. election.
Following Trump’s election, bond yields have continued to rise, complicating the Federal Reserve’s efforts to ease borrowing costs. The 10-year Treasury yield reached 4.34%, influenced by speculation surrounding Trump’s fiscal agenda.
Trump’s reelection has had a profound impact on financial markets, with the S&P 500 Index reaching new all-time highs since the election. This contrasts the volatility experienced by the emerging market stocks dropping to levels last seen in mid-September.
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Protein Therapeutics Market Size to be Worth USD 549.4 billion by 2031, at a CAGR of 6.3% | Transparency Market Research, Inc.
Wilmington, Delaware, United States, Transparency Market Research Inc. -, Nov. 15, 2024 (GLOBE NEWSWIRE) — The protein therapeutics market (단백질 치료제 시장) was valued at US$ 318.4 billion in 2022. A CAGR of 6.3% is predicted from 2023 to 2031, reaching more than US$ 549.4 billion by 2031. A broader range of diseases can be treated with novel protein therapeutics based on research in proteomics, genomics, and systems biology. Technological advances, such as glycoengineering and protein engineering, are making it possible to create biologics that are less immunogenic and have better pharmacokinetics.
Genetic disorders could be treated more effectively by integrating gene therapy and protein therapeutics. In addition, more complex diseases may benefit from combination therapies. As bioprocessing and manufacturing technologies improve, protein therapeutics could be made more affordable and scalable, thereby improving access to these treatments.
Treatment for rare diseases may benefit greatly from protein therapeutics, which are particularly effective in targeting and directing interventions. Cancer and other immune-related disorders may benefit further from immunotherapies, including monoclonal antibodies and other protein-based approaches. By enhancing drug delivery technologies, protein therapeutics can be made more bioavailable, administered less frequently, and improved in compliance with medical guidelines.
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Rare diseases are increasingly being treated with protein therapeutics. Protein-based therapies and advances in molecular studies have contributed to this trend. Oncology continues to emphasize immunotherapies, especially monoclonal antibodies. The market for protein therapeutics is experiencing significant growth in immuno-oncology targets and combination therapies. Growing demand for biosimilar drugs, including protein therapeutics that are similar to approved biologics, has been observed in the market for biosimilar. In addition to the expiration of biologic patents and potential cost savings, this trend is also driven by the expiration of biologic patents.
Key Findings of the Market Report
- In 2022, monoclonal antibodies held the largest share of the global protein therapeutics market.
- Based on application, cancer was the most important segment of the global protein therapeutics market in 2022.
- North America is expected to experience rapid growth in the near future.
- In 2022, Asia Pacific experienced robust growth for protein therapeutics in the market.
Global Protein Therapeutics Market: Growth Drivers
- In recent years, chronic diseases such as cancer, diabetes, and autoimmune diseases have driven demand for protein therapeutics and the development of targeted biological therapies.
- Protein therapeutics are becoming more complex and effective with advances in biotechnology, such as recombinant DNA, genetic engineering, and protein expression systems. A monoclonal antibody is a highly specific protein therapeutic that targets a specific disease pathway.
- Traditional small-molecule drugs often have more side effects than this targeted approach. Protein therapeutics have become increasingly popular due to the trend towards personalized medicine.
- Public and private investments in the biopharmaceutical industry support the development and commercialization of protein therapeutics. Protein therapeutics are gaining popularity due to aging populations, biologic awareness, and quality of life concerns.
- Research and development are vital to discovering and bringing new protein therapeutics to market for pharmaceutical companies and biotechnology companies. New therapeutic targets are being developed while existing protein-based drugs are being improved.
- Beyond traditional areas of oncology, protein therapeutics are discovering new applications. In addition to treating various diseases, such as infectious diseases, rare genetic disorders, and neurological conditions, these drugs are also being investigated to treat various diseases.
Global Protein Therapeutics Market: Regional Landscape
- North America will dominate the market for protein therapeutics. Several key players and new treatments are driving the growth of the protein therapeutics industry in North America. Protein therapeutics are crucial to treating diseases of chronic nature, such as diabetes, cancer, and autoimmune problems, which have become increasingly prevalent in recent times.
- Recent advances in biotechnology have enabled the development and production of new and more complex protein therapeutics, especially in genetic engineering and protein expression systems. Research and development investments in protein-based drugs continue to be heavily made by pharmaceutical and biotechnology companies in North America.
- Regulatory authorities, such as the U.S. Food and Drug Administration (FDA) and Health Canada, have provided clear pathways for the review and approval of protein therapeutics.
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Global Protein Therapeutics Market: Key Players
The global protein therapeutics market is fragmented, with the presence of large number of players. Companies are focusing on investment in R&D and collaborations to increase market share.
- Thermo Fisher Scientific Inc.
- Genzyme Corporation (Sanofi)
- AbbVie Inc.
- Sanofi
- Leadiant Biosciences
- Takeda Pharmaceutical Company Limited
- Amicus Therapeutics
- Bayer AG
- Bristol-Myers Squibb
- Daiichi Sankyo Company
- Abbott
- Sanofi
Key Developments
- In April 2022, Plexium and AbbVie partnered to develop and commercialize targeted protein degradation therapeutics for neurological diseases. AbbVie and Plexium develop novel therapies against historically challenging drug targets by leveraging AbbVie’s neuroscience expertise. AbbVie will select additional research and development programs based on preclinical research activities for the collaboration targets.
- In November 2023, the United States-South Korean biotech company Orum Therapeutics received $180 million from Bristol Myers Squibb (BMS) to develop an antibody-drug conjugate (ADC) for treating blood cancer.
Global Protein Therapeutics Market: Segmentation
By Product
- Monoclonal Antibodies
- Enzyme Replacement Therapy
- Cytokines
- Interferons
- Interleukins
- Growth Factors
- Fusion Proteins
- Anti-coagulants
- Bone Morphogenetic Proteins (BMPs)
- Hormones
- Others (engineered protein scaffolds, etc.)
By Application
- Metabolic Disorders
- Immunologic Disorders
- Hematological Disorders
- Cancer
- Genetic Disorders
By Route of Administration
- Injectable Proteins
- Oral Proteins
By Region
- North America
- Europe
- Asia Pacific
- Latina America
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Transplant Diagnostics Market (移植診断市場) – The global transplant diagnostics market was projected to attain US$ 1.2 billion in 2022. It is anticipated to garner a 7.7% CAGR from 2023 to 2031 and by 2031, the market is likely to attain US$ 2.3 billion by 2031.
Glaucoma Treatment Market (سوق علاج الجلوكوما) – The glaucoma treatment market was valued at US$ 6.3 billion in 2022. A CAGR of 4.3% is projected from 2023 to 2031, reaching US$ 9.1 billion.
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Transparency Market Research, a global market research company registered at Wilmington, Delaware, United States, provides custom research and consulting services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insights for thousands of decision makers. Our experienced team of Analysts, Researchers, and Consultants use proprietary data sources and various tools & techniques to gather and analyses information.
Our data repository is continuously updated and revised by a team of research experts, so that it always reflects the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in developing distinctive data sets and research material for business reports.
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Peter Thiel Says Elon Musk's Support For Trump Paved The Way For Other Silicon Valley Leaders To Back Him: 'Incredibly Courageous'
A realignment has taken shape in Silicon Valley, with Tesla Inc. CEO Elon Musk‘s support for President-elect Donald Trump encouraging other tech leaders to publicly embrace conservative positions, according to PayPal co-founder Peter Thiel.
What Happened: “There was some degree to which it was safer for people to speak out when other people were speaking out,” Thiel said on a podcast on Thursday.
He emphasized that Musk was “incredibly important” in this shift, providing what he called “a great deal of cover” for other industry figures.
The movement has drawn prominent tech figures into Trump’s orbit, including venture capitalists Marc Andreessen and David Sacks. On the other end of the spectrum, tech investors and leaders, including Reid Hoffman, Ron Conway, and Mark Cuban, publicly pledged support for Vice President Kamala Harris.
Why It Matters: While Silicon Valley remains predominantly Democratic, Trump gained notable support across the region’s three main counties, according to voting data analysis by Business Insider.
The industry’s political transformation reflects growing internal tensions over corporate culture, with Musk’s political evolution serving as a prominent example. After relocating Tesla’s headquarters from California to Texas in 2021, Musk described his rightward shift as opposing what he termed the “woke mind virus.”
This realignment led to Musk’s appointment as co-leader of Trump’s proposed Department of Government Efficiency (DOGE), alongside entrepreneur-turned-politician Vivek Ramaswamy.
Thiel, who backed Trump in 2016 but withdrew from political donations this cycle, praised Musk’s stance as both “incredibly dangerous” and “incredibly courageous.”
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US stocks have already reversed a third of post-election rally
(Bloomberg) — A pullback in the S&P 500 (^GSPC) that’s already trimmed about a third off the index’s post-election rally is set to continue Friday, as sticky inflation and hawkish comments from the Federal Reserve weigh on sentiment.
Most Read from Bloomberg
S&P 500 futures were down 0.6% as of 4:28 a.m. in New York, extending Thursday’s decline. Contracts tracking the Nasdaq 100 (^NDX) dropped 0.9%, while those tied to the Dow Jones Industrial Average fell 0.3%.
Since hitting a record intraday high on Monday, the S&P has given back roughly one-third of the trough-to-peak gains in the aftermath of the US presidential election. Initial optimism over corporate growth under President-elect Donald Trump has started to fade as traders pare bets on rate cuts. Fed Fund Futures are pricing in a 63% chance of a 25-basis-point cut in December, down from the 83% priced on Wednesday.
Fed Chair Jerome Powell said on Thursday that the central bank isn’t in a hurry to lower rates given signs of strength in the US economy. His comments came after data showed that factory-gate prices picked up, initial jobless claims stayed subdued while consumer inflation remained firm.
Fed’s Powell Says No Need to Hurry Rate Cuts With Economy Strong
While Thursday’s PPI data weren’t that alarming by the standards of price rises during the 2022-2023 period, “the problem was it showed inflation remaining stubbornly above levels consistent with the Fed’s target,” said Deutsche Bank strategists led by Henry Allen. The PCE price gauge — due two weeks later — will now be key to watch, they said.
Stocks in focus on Friday include chip-equipment maker Applied Materials Inc., which slid in postmarket trading after giving a cautious outlook amid a downturn in most parts of the semiconductor industry. Shares of vaccine manufacturers may also be on the move after Trump tapped Robert F. Kennedy Jr. to run the Department of Health and Human Services.
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ProScore Announces Domestic Content Solution for Inflation Reduction Act Requirements
Austin, TX November 15, 2024 –(PR.com)– ProScore Technologies proudly announces the launch of its innovative domestic content solution, designed to revolutionize how renewable energy companies achieve compliance with Inflation Reduction Act (IRA) requirements.
ProScore provides a comprehensive solution designed to support Taxpayers, Developers, EPCs, and Contractors in effectively managing domestic content requirements to ensure IRA compliance. By offering full visibility into the sourcing process, robust tracking capabilities, and AI verification tools, ProScore simplifies the complexities of adhering to domestic content standards with confidence.
The platform enables users to seamlessly document and certify U.S.-made materials, reducing administrative burdens while increasing accuracy and compliance confidence. With ProScore, contractors can streamline project workflows, mitigate compliance risks, and unlock the financial incentives tied to meeting IRA requirements, positioning their businesses for long-term success in the renewable energy industry.
“The ProScore platform delivers full transparency, intuitive tracking, and robust verification for domestic content, making compliance both straightforward and achievable,” said Britt Hager, Co-Founder and CEO of ProScore. “ProScore is committed to fostering a more transparent, efficient, and compliant renewable energy industry. Our mission has always been to empower project leaders, contractors, and capital markets with a platform that not only simplifies compliance but also helps maximize the financial rewards of doing so.”
To learn more about how ProScore can simplify your domestic content compliance and drive transformative results for your business, visit ProScore.ai and Get the ProScore Advantage.
About ProScore:
ProScore Technologies is a pioneering technology company dedicated to enhancing compliance and transparency in the renewable energy sector. Supporting taxpayers, developers, EPCs, and contractors across the United States, ProScore specializes in creating innovative solutions tailored to the needs of renewable energy installation companies. Our tools enable validation of regulatory requirements, particularly IRA domestic content compliance, while promoting integrity, trust, and accountability. By streamlining processes and ensuring accuracy, ProScore empowers its partners to succeed in an ever-evolving industry.
Media Contact:
Seamus Tierney
seamus.tierney@proscore.ai
Contact Information:
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Seamus Tierney
323-350-0076
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NexPoint Real Estate Advisors Chief Financial Officer Brian Mitts to Retire at Year End
Paul Richards Named Successor
DALLAS, Nov. 14, 2024 /PRNewswire/ — NexPoint Real Estate Advisors, L.P. (“NREA” and together with its affiliates “NexPoint”), announced today that Brian Mitts is stepping away from his day-to-day role at NexPoint and resigning from all positions with NexPoint, including Chief Financial Officer, effective December 31, 2024. NREA has named Paul Richards as his successor.
“Brian has been an invaluable member of the leadership team who played an integral role in growing the NexPoint real estate platform into what it is today,” said Matthew McGraner, NREA Chief Investment Officer. “On behalf of the entire NexPoint team, I want to thank Brian for his years of service to the firm and his help positioning NexPoint for the future as we continue that growth.”
Mitts was involved in NexPoint’s founding in 2012. In the more than 12 years he spent at the firm, Mitts helped NexPoint list several public REITs and grow the real estate business into a multibillion-dollar platform operating across asset classes and property sectors. He will be stepping down from his officer roles at all NREA-advised entities and their respective subsidiaries.
“It has been a privilege to be a part of building the NexPoint real estate business,” said Mitts. “I am grateful for the chance to serve alongside such a strong, dynamic team for years, who are well-equipped to capture the significant opportunities ahead for the business. I look forward to working with Paul and the rest of the NexPoint leadership team to ensure a smooth transition.”
Mitts will remain on through the end of the year to support the transition, including through Nareit’s REITworld: Annual Conference. Following his departure from NexPoint, Mitts will continue to serve in his current board roles.
Richards has been at the firm for over 10 years, serving in key leadership positions for multiple public REITs. With significant capital markets and financing experience, he has executed on more than $4 billion in debt financings across the real estate platform advised by NexPoint and its affiliates and has been instrumental in a range of equity offerings, special situations, and other capital markets initiatives totaling over $3 billion and spanning multiple real estate sectors.
“Paul has clearly demonstrated his qualifications for this role, playing a major part in NexPoint’s most significant financing and capital markets transactions throughout the last several years,” said McGraner. “We are glad to have him elevated across the organization and continue this work in a broader leadership role.”
About NexPoint Real Estate Advisors, L.P.
NexPoint Real Estate Advisors, L.P. is a registered investment adviser on the NexPoint platform.
About NexPoint
NexPoint is a multibillion-dollar investment firm based in Dallas, Texas. The firm is structured around three major business areas: real estate, corporate credit and equities, and insurance solutions. NexPoint’s businesses span asset classes, industries, and strategies, providing the flexibility to invest across capital structures and market environments. Serving a diverse client base, NexPoint’s investment strategies are offered in a range of vehicles and fund structures, including mutual funds, public and private REITs, tax-advantaged vehicles, private funds, and separate accounts. For more information, visit nexpoint.com.
Forward-Looking Statements
This press release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995 that are based on management’s current expectations, assumptions and beliefs. Forward-looking statements can often be identified by words such as “believe,” “continue,” “future,” “may,” “plan” and similar expressions, and variations or negatives of these words. These forward-looking statements include, but are not limited to, statements regarding NexPoint’s future growth, ongoing initiatives, future opportunities to drive value and growth and Brian Mitts’s transition. Forward-looking statements are not guarantees of future results and are subject to risks, uncertainties and assumptions that could cause actual results to differ materially from those expressed in any forward-looking statement. Readers should not place undue reliance on any forward-looking statements. Except as required by law, NexPoint does not undertake any obligation to publicly update or revise any forward-looking statements whether as a result of new information, future events, changing circumstances or any other reason after the date of this report.
CONTACTS
Investor Relations
Kristen Griffith
IR@nexpoint.com
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Why Domino's Pizza Shares Are Trading Higher By Around 8%; Here Are 20 Stocks Moving Premarket
Shares of Domino’s Pizza, Inc. DPZ rose sharply in today’s pre-market trading after a 13F filing showed that Berkshire Hathaway added a new stake.
Buffett bought 1,277,256 shares of Ann Arbor, Michigan-based pizza chain Domino’s Pizza.
Domino’s Pizza shares jumped 7.8% to $470.00 in the pre-market trading session.
Here are some other stocks moving in pre-market trading.
Gainers
- The Arena Group Holdings, Inc. AREN gained 233.3% to $1.90 in pre-market trading after it announced its first ever profitable quarter.
- Greenidge Generation Holdings Inc. GREE rose 49.8% to $3.70 in pre-market trading. Greenidge said New York Supreme Court Judge rejected Department of Environmental Conservation’s action to deny its application for renewal of Title V Air Permit.
- Innovation Beverage Group Limited IBG gained 35.2% to $1.46 in pre-market trading after gaining 40% on Thursday.
- Beneficient BENF gained 29.6% to $1.62 in pre-market trading after the company reported a year-over-year increase in second-quarter revenue results.
- Siyata Mobile Inc. SYTA gained 26.6% to $1.62 in pre-market trading following third-quarter results.
- TCTM Kids IT Education Inc. TCTM gained 23.1% to $0.99 in pre-market trading after dipping 12% on Thursday.
- Red Cat Holdings, Inc. RCAT climbed 19.4% to $4.80 in pre-market trading after jumping more than 5% on Thursday.
- Despegar.com, Corp. DESP gained 12.8% to $16.77 in pre-market trading after the company reported better-than-expected third-quarter financial results.
- Jet.AI Inc. JTAI gained 9.8% to $6.37 in pre-market trading after dipping more than 28% on Thursday.
Losers
- TFF Pharmaceuticals, Inc. TFFP shares tumbled 69.7% to $0.4890 in pre-market trading after the company announced it will wind down its operations.
- Quantum Computing Inc. QUBT shares fell 25.5% to $3.28 in pre-market trading after the company reported a registered direct offering of $40 million priced at-the-market under Nasdaq rules.
- Expion360 Inc XPON shares fell 22.3% to $2.68 in pre-market trading after the company reported a year-over-year decline in third-quarter revenue results.
- Digital Brands Group, Inc. DBGI declined 21.8% to $0.1060 in pre-market trading after the company reported worse-than-expected third-quarter EPS results and a year-over-year decline in revenue.
- Tivic Health Systems Inc TIVC dipped 15.9% to $0.31 in pre-market trading after the company reported a year-over-year decline in third-quarter sales results.
- CERo Therapeutics Holdings Inc CERO shares dipped 14.7% to $0.16 in pre-market trading after falling around 12% on Thursday.
- AST SpaceMobile, Inc. ASTS fell 13.8% to $23.10 in pre-market trading after the company reported worse-than-expected quarterly financial results.
- Carmell Corp CTCX fell 13.1% to $0.24 in pre-market trading after posting third-quarter results.
- Oklo Inc. OKLO fell 7.8% to $22.00 in pre-market trading following third-quarter results.
- Applied Materials, Inc. AMAT fell 7.3% to $172.55 in today’s pre-market trading following first-quarter results.
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Investors circle the Trump trade's global market victims
By Naomi Rovnick
LONDON (Reuters) – Big global investors are exiting popular trades that bet on US President-elect Donald Trump’s tax and tariff policies boosting Wall Street and wreaking damage abroad and swooping in on some of the Nov. 5 election’s biggest market victims.
After US stocks and the dollar bounced on Trump’s growth agenda and trade war fears pressured Chinese, European and emerging market assets, money managers are hunting for bargains in places where pessimism may have gone too far.
“The thesis that Trump is good for the US and bad for the rest of the world is a very common narrative,” said John Roe, head of multi-asset funds at Legal & General Investment Management, which manages 1.2 trillion pounds ($1.52 trillion) of investments.
He said this had convinced him to buy non-US assets that may have been excessively sold – like European car-makers and the Mexican peso – and close pre-election positions that profited from sterling and Chinese tech stocks falling.
European auto stocks touched their lowest in almost two years on Wednesday while the Mexican peso has fallen more than 2.5% versus the dollar this month and sterling is down some 5% against the greenback since end-September.
Shaniel Ramjee, a multi-asset co-head at Pictet Asset Management, which runs 254 billion Swiss francs ($285.43 billion) of client funds, said he had increased holdings of Chinese stocks and Brazilian bonds since the election.
“There will be a really good opportunity in assets that have weakened ahead of and after the election, we see a lot of value,” he said.
Investors are now questioning the popular market view that Trump will aggressively pursue policies that exacerbate US inflation and derail Federal Reserve rate cuts, given voter anger about living costs and consumer price rises.
Too far?
Since the eve of the election, US stocks have risen more than 4% while European equities have fallen about 1% and emerging market shares are at two-month lows.
“The news flow (for non-US markets) is so negative right now that any kind of good news could move things quickly,” Morningstar European equity strategist Michael Field said.
The euro, down about 3% since Trump’s win, hit a one-year low of $1.052 this week and 10-year U.S. Treasury yields jumped 14 basis points (bps) to 4.47%, as traders bet on higher US interest rates and inflation.
Europe is mired in pessimism, exacerbated by the collapse of Germany’s government and fears for exporters, with Volkswagen shares trading at about 3.3 times forecast earnings and European chemical producers down 11% since late September.