Ecosystem Overview - Ondo Finance ecosystem includes ONDO, OUSG, USDY [1] Strategic Partnerships & Funding - J P Morgan is a key partner within the ecosystem [1] - $250 million Catalyst Fund is available [1]

VONNIE: IT IS 5:00 A. M. IN NEW YORK CITY.AND I'M VONNIE QUINN IN FOR DANI BURGER. THE DOLLAR BOUNCES BACK JUST A LITTLE BIT FOLLOWING A BRIEF DRAMA OVER FED CHAIR JEROME POWELL'S FUTURE. AND THE LATEST ON TRADE.PRESIDENT DONALD TRUMP FLOATS 10% TO 50% TARIFFS MORE THAN 100 50 NATIONS. EARNINGS CONTINUE. TSMC BOOSTS ITS SALES GROWTH OUTLOOK AS AI ORDERS RUN HOT.LET'S LOOK AT HOW THAT IS IMPACTING THE MARKETS AS WE APPROACH THE OPEN IN A FEW HOURS' TIME. A SMALL UPSIDE FOR FUTURES AFTER A VERY FLABBY DAY YES ...

RT Andrew Forte (@AndrewAsksHow)Big picture stuff happening in crypto right now:- BTC has been a standout climbing close to its all-time high of $112,000 in May 2025, with a year-to-date gain of about 15%, outpacing the S&P 500’s 7% rise- Circle’s IPO and Bank Charter: Stablecoin firm Circle, issuer of USDC went public with a $18 billion valuation and is applying for a U.S. national trust bank license. J.P. Morgan forecasts stablecoin market cap at $500 billion by 2028 tempering trillion-dollar expectations ...

uh with JP Morgan Asset Management's chief global strategist, David Kelly, who joins us. David, very good morning to you. Good to see you.Glad to be here. Let's I mean, as Sarah said, lots to break down there from potential trade deals or not, uh the bill going through Congress, but also the jobs number. How much better than expected was the jobs number.Does it tweak your outlook for the economy a lot or not. Only very slightly. Um I mean, it's fine.I mean, the the economy is slowing down slowly, but I thin ...

Core Viewpoint - Astrana Health, Inc. has successfully completed the acquisition of Prospect Health for $708 million, aiming to enhance its capabilities in delivering high-quality, patient-centered care across the United States [1][3]. Company Overview - Astrana Health is a physician-centric, technology-enabled healthcare company focused on providing accessible, high-quality care [1][7]. - The company supports over 20,000 providers and 1.6 million patients through value-based care arrangements [8]. Acquisition Details - The acquisition of Prospect Health, initially announced at $745 million, was finalized at a reduced price of $708 million, reflecting the company's disciplined capital deployment strategy [3]. - Prospect Health operates a network of over 11,000 providers and serves approximately 600,000 members across various healthcare programs [2]. Financial Impact - Astrana expects Prospect Health to contribute approximately $1.2 billion in total revenue and $81 million in adjusted EBITDA on a full-year basis [4]. - The company has updated its full-year 2025 revenue guidance to between $3.1 billion and $3.3 billion, with adjusted EBITDA projected between $215 million and $225 million [5]. Debt and Financial Management - Following the acquisition, Astrana will have approximately $700 million of net debt and aims to reduce its net leverage ratio to below 2.5x within the next 12 to 18 months [6].

International Markets - US stocks still have a home bias, but international markets offer catalysts beyond just a weaker dollar [1] - Europe benefits from lower rates and fiscal stimulus, China from AI, and Japan from corporate reform [2] - Emerging markets, including Korea, Taiwan, and Latin America, benefit from the resurgence in hardware within tech and the reorganization of global trade [2][3] - International opportunities are not all dependent on each other, providing diversification [3] US Market & Fiscal Policy - The market has largely priced in the "big beautiful bill," with short-term positive impacts on equity markets due to growth boosts [4][5] - The long-term impact of the bill includes a potentially ever-expanding deficit, estimated to be in the trillions, which could create a floor on yields [5][6] - The market seems to have gotten comfortable with tariffs around 14% or 15%, after a previous range of 2% to 25% [8] Market Resilience & Outlook - The market has shown resilience to geopolitical risks, the reconciliation bill, and recession risks [9][10] - The path of least resistance for the market is higher, given its resilience to various downside risks [10] - The market could become more rangebound in the second half of the year due to higher valuations [12][13] - Diversified portfolios are up 6% to 7% in the first half of the year [14] Bond Market & Yields - Resistance has been met around 45% on the 10-year Treasury yield [15] - Yields could drift lower throughout the year, potentially providing opportunities for investors [16] - Even if yields remain stable, the income cushion will generate a decent return further out on the curve [16]

Core Viewpoint - Tesla's stock has faced significant declines due to a combination of political conflicts, poor sales performance, and safety concerns regarding its driver-assistance technology [1][2][8] Company Performance - Tesla's stock price was around $300 per share on Friday, down 25% year-to-date but up 11% over the past three months [2] - Tesla's market share in Germany has decreased by 36% year-over-year, reflecting poor domestic and international sales [2] - Analysts predict that if proposed legislation curtails EV tax credits, Tesla could face a loss of $2 billion, with a potential 65% decline in stock value in the following year [8] Industry Trends - Global EV sales are projected to reach 20% of new car sales in 2024, but challenges such as winding down subsidies, tariff fears, and inconsistent charging infrastructure are hindering growth [3] - In China, EV sales have surged by 40% year-over-year in 2024, accounting for two-thirds of worldwide EV sales, up from half in 2021 [5] Competitive Landscape - BYD, China's leading EV manufacturer, has seen its stock rise by 53.18% year-to-date, attributed to aggressive price cuts and a strong market position [10] - Rivian Automotive has experienced a 23% increase in stock price over the past three months, supported by partnerships and a focus on lower-cost EV models [12][13]

Core Viewpoint - Life Time Group Holdings, Inc. announced a public offering of 20,000,000 shares of its common stock by certain affiliates of Leonard Green & Partners, L.P. and TPG Inc., with the proceeds going entirely to the Selling Stockholders, while the Company will not receive any funds from this sale [1]. Group 1: Offering Details - The offering is subject to market conditions, and there is no assurance regarding its completion or the actual size and terms of the offering [2]. - J.P. Morgan and BofA Securities are acting as underwriters for the proposed offering [2]. Group 2: Company Overview - Life Time operates over 180 athletic country clubs across the U.S. and Canada, providing a range of health and wellness services and products, including nutritional supplements [5]. - The Company serves a diverse demographic, from individuals aged 90 days to over 90 years, through various healthy living and aging programs [5]. - Life Time has been recognized as a Great Place to Work®, highlighting its commitment to a positive workplace culture for its more than 43,000 employees [5].

Meta is a great company. But does its stock cost too much?Shares of Meta Platforms (META 3.05%) jumped 3% through 2:55 p.m. ET Wednesday afternoon.You can thank J.P. Morgan for that. What J.P. Morgan said about Meta todayInvestment bank J.P. Morgan raised its price target on Meta stock 9% this morning, to $735 a share, with an overweight rating, reports Street Insider. According to the analyst, Meta boasts "virtual ownership of the social graph," as well as a "strong competitive moat" that will keep it "an ...

Core Viewpoint - North China Long Dragon (301357.SZ), a composite materials company in the military sector, is attempting a self-rescue acquisition of Henan Zhongsheng Composite Materials Co., Ltd. to address its declining performance [1][6]. Group 1: Company Performance - North China Long Dragon has experienced continuous revenue decline since its listing, with 2023 revenue at 135 million yuan, followed by a 20.1% drop to 108 million yuan in 2024, resulting in a net loss of 10.89 million yuan [2][4]. - The latest quarterly report shows revenue of 20.57 million yuan, down 16.86% year-on-year, and a net loss of 5.07 million yuan, a 244.16% decline [4]. Group 2: Acquisition Details - The acquisition involves issuing shares and cash to acquire controlling interest in Henan Zhongsheng, which specializes in composite materials for the renewable energy sector [1][6]. - Henan Zhongsheng, established in 2019, has a production capacity of over 20,000 tons of glass fiber products annually and serves major clients like BYD and CATL [10][12]. Group 3: Strategic Rationale - The acquisition is seen as a strategic move to diversify into the civilian composite materials market, leveraging North China Long Dragon's military technology for civilian applications [15][18]. - The domestic composite materials market is projected to grow significantly, with annual demand in wind power, photovoltaics, and lightweight vehicles increasing by over 10% [15]. Group 4: Market Response - Following the acquisition announcement, interest from foreign institutional investors surged, with firms like J.P. Morgan and UBS entering the top ten shareholders [9]. - The market is optimistic about the potential for improved performance and valuation if the acquisition is successful and Henan Zhongsheng's financials are consolidated [18].