Group 1: ServiceNow, Inc. - ServiceNow, Inc. is distinguishing itself from other software companies, according to Malcolm Ethridge, managing partner at Capital Area Planning Group [1] - authID Inc. announced a new identity verification integration with ServiceNow to enhance security for contact centers amid rising fraud risks [1] Group 2: Intercontinental Exchange, Inc. - Bill Baruch, founder & president of Blue Line Capital, expressed a favorable view on Intercontinental Exchange, Inc. [2] - TD Cowen analyst Bill Katz maintained a Buy rating on Intercontinental Exchange and raised the price target from $175 to $193 [2] Group 3: Apollo Global Management, Inc. - Apollo Global Management led a $3.5 billion financing package for Valor Compute Infrastructure, which will support a $5.4 billion acquisition and lease of data-center infrastructure [3] - The financing will include Nvidia's GB200 GPUs for a subsidiary of Elon Musk's AI company, xAI, aimed at supporting ongoing model training and the development of its AI chatbot, Grok [4] - Apollo Global Management shares increased by 0.1% to close at $144.15 [5]

Core Viewpoint - Mount Logan Capital Inc. has successfully priced a public offering of $40 million in senior unsecured notes with an interest rate of 8.00%, marking its entry into the U.S. public fixed income markets [1][3]. Offering Details - The offering consists of 8.00% senior unsecured notes due January 31, 2031, with a redemption option starting January 31, 2028 [1]. - The notes will be issued in denominations of $25 and multiples thereof, with interest payments starting on April 30, 2026 [1]. - The offering is expected to close on January 26, 2026, subject to customary conditions [2]. Use of Proceeds - The net proceeds from the offering will be used to repay outstanding indebtedness under the company's credit facility, with any remaining funds allocated for general corporate purposes [3]. Underwriters - The offering is being managed by Lucid Capital Markets, LLC, Piper Sandler & Co., and BC Partners Securities LLC as joint bookrunners, with Canaccord Genuity LLC, William Blair & Company, L.L.C., and Wedbush Securities Inc. as co-managers [4]. Company Background - Mount Logan Capital Inc. is an integrated alternative asset management and insurance solutions firm focused on generating durable, fee-based revenue and long-term value creation [8]. - As of September 30, 2025, the company managed over $2.1 billion in assets [9].

Core Viewpoint - Mount Logan Capital Inc. has successfully priced a public offering of $40 million in senior unsecured notes with an interest rate of 8.00%, marking its entry into the U.S. public fixed income markets [1][3] Group 1: Offering Details - The offering consists of 8.00% senior unsecured notes due January 31, 2031, with a redemption option starting January 31, 2028 [1] - The notes will be issued in denominations of $25 and will bear interest payable quarterly, with the first payment on April 30, 2026 [1] - The offering is expected to close on January 26, 2026, and the notes will be listed on NASDAQ under the symbol "MLCIL" [2] Group 2: Use of Proceeds - The net proceeds from the offering will be used to repay outstanding indebtedness under the company's credit facility, with any remaining funds allocated for general corporate purposes [3] Group 3: Company Background - Mount Logan Capital Inc. is an integrated alternative asset management and insurance solutions firm focused on generating durable, fee-based revenue and long-term value creation [8] - As of September 30, 2025, the company managed over $2.1 billion in assets [9]

Group 1: Market Sentiment and Trends - There is a conflict among analysts regarding strategies for U.S. dollar-denominated assets, with some recommending diversification away from U.S. equities due to unpredictability in the Trump administration [1] - Recent data indicates a potential shift in sentiment, as the S&P 500 increased by 0.26% and is up 1.45% year-to-date, suggesting positive growth [2] - The U.S. Treasury International Capital Data revealed net foreign inflows into U.S. assets of $212 billion, indicating strong foreign investment [3][4] Group 2: Sector Performance and Predictions - Cathie Wood of Ark Invest suggests that her "rolling recession" theory may be ending, predicting a strong economic rebound in the coming years [5] - Tech stocks are expected to perform well in Q4, with analysts projecting strong earnings driven by demand for AI technologies from major companies like Microsoft, Alphabet, and Amazon [9] - The price of copper has risen by 33% over the last 12 months, indicating robust activity in tech sectors that require significant copper for AI data centers [9] Group 3: Political and Economic Context - Investors are becoming desensitized to political drama surrounding Trump, recognizing that many threats may not materialize into significant actions [12] - ING's analysis suggests that while there is a long-term trend towards de-dollarization, the U.S. dollar remains strong, having gained nearly a full percentage point on the DXY index since the start of the year [13] - Recent U.S. economic data, including retail sales and jobless claims, has shown positive trends, contributing to a stable outlook for the dollar [14]

“If earnings continue to beat expectations and economic data remains supportive, the likely path remains advance, backfill, then advance again,” said Kenny Polcari at SlateStone Wealth.The Labor Department’s report on Thursday showed that the number of Americans filing for initial jobless claims in the past week unexpectedly fell by -9K to a 6-week low of 198K, compared with the 215K expected. Also, the U.S. Philly Fed manufacturing index rose to a 4-month high of 12.6 in January, stronger than expectations ...

Core Insights - The article evaluates the PIMCO California Municipal Income Fund (PCQ) as a potential investment option at the current market price, focusing on its investment in California municipal bonds [1]. Investment Strategy - The investment strategy emphasizes quality, diversification, and long-term focus, while avoiding high-risk pursuits and unverified advice [1]. - The fund aims for safe and reliable yields of approximately 8%, utilizing high-yield opportunities in the CEF and ETF fund space [1]. Fund Features - The fund primarily invests in municipal bonds, contributing to managed income portfolios that cater to both active and passive investors [1]. - A significant feature of the fund is that the majority of its holdings are monthly-payers, which facilitates faster compounding and steady income streams [1].

Market Reactions to Geopolitical Events - Despite significant geopolitical tensions, including U.S. military threats and actions in Venezuela and Iran, equity markets have shown resilience, with the S&P 500 up approximately 1.5% year-to-date and the Dow Jones Industrial Average gaining close to 3% [2][3] - The Nasdaq Composite has also increased by 1.2%, indicating a general upward trend in major U.S. stock indices [3] - European stocks have similarly risen, with the pan-European Stoxx 600 increasing nearly 4% [13] Investor Sentiment and Market Dynamics - Market analysts suggest that investors are currently viewing geopolitical events in isolation, leading to a lack of significant market reaction [4][8] - The muted response from markets is attributed to a "growing inurement" to President Trump's rhetoric and actions, with investors waiting for concrete developments before adjusting their portfolios [9][11] - Historical patterns indicate that equity markets often perform well following spikes in geopolitical risk, as long as these events do not significantly impact economic fundamentals [15][16] Regional Market Performance - The MSCI AC Asia Pacific Index has risen over 5% this year, reaching record highs, driven by factors such as policy stimulus and expectations of continued earnings growth [16][18] - Japan's Nikkei 225 and South Korea's Kospi have also achieved all-time highs, reflecting strong regional market performance [16] - Analysts note that the absence of major oil shocks and the expectation of easier monetary policy are supporting this growth, with geopolitical events not currently causing significant disruptions in oil prices [17][19]

U.S. Stock Market Factors to Watch Out on FridayThe frenzy around AI has sent Nvidia and other superstar stocks to dizzying heights, stirring criticism that their prices had shot too high. Nvidia rose 2.1 per cent on Thursday after TSMC’s Chief Financial Officer Wendell Huang said it’s seeing “continued strong demand” in an encouraging signal for the entire AI industry.TSMC’s stock that trades in the United States rose 4.4 per cent on Thursday. Wall Street steadied on Thursday as stocks related to artificia ...

Market Performance - The A-share market showed strong overall performance in 2025, with major indices all closing higher. The ChiNext Index led with a 49.57% increase, followed by the Shenzhen Component Index at 29.87%, the Shanghai Composite Index at 18.41%, and the CSI 300 Index at 17.66% [2] - The STAR 200 Index surged by 59.31%, and the ChiNext 50 Index rose by 57.45% [2] - The Hong Kong stock market also performed well, with the Hang Seng Index rising by 27.77%, marking its largest annual increase since 2017. The Hang Seng Tech Index increased by 23.45%, and the Hang Seng China Enterprises Index rose by 22.27% [2] - In contrast, the bond market faced challenges, with the 10-year government bond yield rising above 1.9%, ending a two-year bull market [2] Mixed Public Fund Performance - As of December 31, 2025, there were 895 mixed public funds in existence, with an average net value growth rate of 4.52% for the year [3] - Over 70% of the products had a net value growth rate between 1% and 5%. Twelve products exceeded a 20% growth rate, while 38 products had growth rates between 10% and 20%. Two products experienced negative growth [3] - Ningyin Wealth Management and Huihua Wealth Management led in average returns, both exceeding 10% for the year [3] - The top ten performing products came from six different wealth management companies, with Ningyin Wealth Management having four products on the list [3] Product Analysis - The "Fuli Xingyi Intelligent Quantitative Index Growth 3-Month Minimum Holding Period No. 1 Mixed Wealth Management Product A" from Xingyin Wealth Management is classified as a medium-high risk product, with 43.06% in equity holdings and 53.21% in cash and bank deposits as of Q3 2025 [4] - The product is expected to focus on high-grade credit bonds and technology growth sectors in the equity market [4] - The "CITIC Wealth Management Zhi Rui Win Progress No. 1 Net Value Type RMB Wealth Management Product" from Xinyin Wealth Management is also a medium-high risk product, with 47.73% of its investments in public funds and 25.78% in equity investments as of Q3 2025 [4] - This product includes gold stock ETFs in its top ten assets, which may benefit from a strong performance in the gold sector [4]

Economic Outlook - ARK Invest CEO Cathie Wood predicts a "golden age" for U.S. equities, likening it to the boom of the 1980s, with the U.S. economy described as a "coiled spring" ready for a significant rebound [1] - Wood attributes the current economic tension to a "rolling recession" caused by aggressive Federal Reserve rate hikes, forecasting a surge in GDP growth and wealth creation due to converging factors like deregulation and tax cuts [2] Innovation and Growth - The current economic environment is characterized as "Reaganomics on steroids," with expectations of increased capital spending in sectors like artificial intelligence and robotics, benefiting the ARK Innovation ETF and the S&P 500 [3] - Real GDP growth is projected to accelerate to 6-8%, driven by a 4-6% increase in productivity, which will help suppress unit labor costs [4] Housing Market - The housing market is central to the "coiled spring" thesis, with existing home sales at levels not seen since the early 1980s, despite a larger population [5] - As interest rates stabilize and inventory becomes available, a sharp recovery in the housing market is anticipated, particularly for major homebuilders like Lennar Corp., KB Home, and D.R. Horton, which have reduced prices to clear inventory [6] Asset Allocation - Wood advises caution towards gold, viewing it as historically expensive relative to the M2 money supply, while advocating for Bitcoin as a superior asset due to its mathematical scarcity and programmed supply growth [7] - The ARK 21Shares Bitcoin ETF is positioned as a better diversification tool for the upcoming cycle of liquidity expansion [8] Market Performance - In 2026, the Nasdaq 100 index has increased by 1.35%, while the S&P 500 and Dow Jones indices have risen by 1.25% and 2.19%, respectively, indicating positive market performance [9]