Group 1: SpaceX and XAI Merger - SpaceX is merging with Elon Musk's AI startup XAI, creating a combined entity valued at $1.25 trillion [7][8]. - The merger aims to develop a space-based communications platform, requiring the launch of a million satellites into orbit [7]. - The integration of SpaceX and XAI is expected to enhance operational efficiency, particularly in building data centers in space [10][13]. Group 2: IPO Outlook - There is a high probability (72%) that SpaceX will go public before OpenAI, with expectations for a potential IPO by June [18][19]. - The IPO market is anticipated to be robust this year, driven by favorable economic conditions and a pro-business administration [87][90]. - Companies are increasingly willing to take risks on IPOs, reflecting a shift in market sentiment towards a more stable environment [91][96]. Group 3: Palantir's Performance - Palantir's stock has seen significant growth, with a recent increase in revenue growth rates from 50% to 70% [33][34]. - The company is capitalizing on opportunities in the U.S. commercial sector, which grew by 137% [35]. - Palantir's unique capabilities in data organization and deployment are contributing to its success in the AI era [37][42]. Group 4: PayPal's Leadership Change - PayPal's shares fell sharply after announcing a leadership change, with Enrique Lores taking over as CEO [57][58]. - The company reported a decline in branded checkout growth, which dropped to 1% from 6% year-over-year [58]. - PayPal's total payment volume for the quarter was $475 billion, indicating its scale in the fintech sector [62]. Group 5: Market Trends and Analyst Insights - Analysts are observing a mixed performance in large-cap technology stocks, with Nvidia and Microsoft facing pressure [4][5]. - Walmart has joined the trillion-dollar market cap club, reflecting strong performance under new leadership [5][6]. - The software sector is expected to continue growing, with good companies likely to outperform in the AI-driven market [40][45].

Core Insights - Experian has announced the acquisition of Own Up, an AI-powered mortgage shopping platform, to enhance mortgage access and consumer home loans within the Experian Marketplace [1] - The acquisition aims to provide consumers with expert homebuying guidance and improve the overall lending ecosystem by integrating Own Up's technology with Experian's existing services [1] Company Overview - Experian is a global data and technology company that operates across various markets, including financial services, healthcare, and automotive, with a workforce of 25,200 people in 33 countries [1] - Own Up is a financial technology company focused on making homeownership more accessible and affordable, utilizing a data-driven platform to connect borrowers with vetted lenders [2] Strategic Goals - The acquisition aligns with Experian's mission of Financial Power to All™, expanding its presence in the mortgage industry and helping lenders reach more qualified shoppers [1] - By integrating Own Up's AI capabilities, Experian aims to enhance its innovation roadmap and speed to market for AI-powered financial solutions [1] Consumer Benefits - Consumers will benefit from personalized mortgage options, expert guidance, and the ability to compare home loan rates seamlessly within the Experian Marketplace [1] - The integration will provide a comprehensive support system for consumers throughout the homebuying process, from credit building to mortgage comparison [1]

White House Meeting Yields Stablecoin Progress; Cathie Wood Makes These Crypto Buys | Investor's Business DailyBREAKING: [Stocks Edge Higher As Teradyne, Palantir Surge]---Bitcoin and cryptocurrency prices ticked lower Tuesday, after rebounding slightly from their major sell-off over the weekend. The modest gains came after President Donald Trump on Monday hosted a White House meeting between banking and crypto leaders in an effort resolve disputes around stablecoin rewards and to move toward finalizing the ...

Core Insights - Canadian pension plans demonstrated resilience with a median return of 0.2% for Q4 2025 and a total return of 4.4% for the year, as reported by the Northern Trust Canada Universe [1][2] Economic Environment - The fourth quarter of 2025 experienced market volatility due to geopolitical tensions, trade policy issues, and a U.S. government shutdown lasting 43 days, yet major economies showed reasonable stability [1][6] - The U.S. Federal Reserve cut its overnight interest rate twice during the quarter, while the Bank of Canada cut its benchmark rate in October and maintained it in December, indicating improvements in the labor market [1][7] Market Performance - Canadian equities, as measured by the S&P/TSX Composite Index, rose 6.2% for the quarter and 31.7% for the year, with the Materials sector leading at a remarkable 100.6% return [5] - U.S. equities, represented by the S&P 500 Index, gained 1.1% in CAD for the quarter and 12.4% for the year, with the Health Care and Communication Services sectors showing strong performance [5] - International developed markets, measured by the MSCI EAFE Index, returned 3.4% in CAD for the quarter and 25.7% for the year, with Financials and Utilities being the strongest performers [5] Fixed Income Market - The Canadian fixed income market, as per the FTSE Canada Universe Bond Index, reported a modest decline for the quarter, with short-term bonds showing slight gains while mid and long-term bonds declined [9] Global Economic Indicators - Emerging markets performed well despite global uncertainties, with the People's Bank of China maintaining its loan prime rates amid weak economic data [8]

Group 1 - KBank has filed 13 trademark applications for stablecoin wallets, including names like KSC Wallet and Kbank SC Wallet, as it accelerates its IPO plans [1][2] - The trademark applications are classified under software for digital currency, cryptocurrency, and stablecoin transactions, as well as crypto mining and financial services [2] - The planned wallet system is expected to be comprehensive, covering functions such as remittances, payments, and settlements [3] Group 2 - KBank is currently in the process of going public, marking its third attempt at an IPO, with previous attempts in 2023 and 2024 [3][4] - Proceeds from the IPO will be directed towards enhancing its digital asset business, with a listing on the KOSPI scheduled for March 5, 2026 [4] - The IPO trend is notable in the industry, with other companies like Ledger and BitGo also pursuing public offerings, indicating a growing interest in the crypto sector [5][6]

Atlanta Fed President Raphael Bostic said on Monday, “We have so much momentum in the U.S. economy that the Fed needs to keep the policy rate in a mildly restrictive stance,” adding that he does not project any rate cuts in 2026.Following the manufacturing data, traders slightly pared expectations for Fed rate cuts. U.S. rate futures have priced in a 91.0% probability of no rate change and a 9.0% chance of a 25 basis point rate cut at the next central bank meeting in March. The next rate cut is expected to ...

Core Insights - Home equity lines of credit (HELOC) and home equity loan (HEL) rates are currently at multi-year lows, with average HELOC rates at 7.25% and HEL rates at 7.56% as of February 3, 2026 [2][13] - The Federal Reserve's interest rate policies may stabilize home equity rates, as further cuts are not anticipated in the near term [1] Group 1: Market Conditions - Second mortgage rates peaked in late 2023 and have generally trended lower since then [1] - Homeowners have approximately $34 trillion in equity locked in their homes, which can be accessed through second mortgages [3] Group 2: Loan Types and Features - A HELOC allows homeowners to draw cash as needed, while a home equity loan provides a lump sum [3] - HELOC rates are typically variable and may include introductory rates that last for a limited time, while HELs usually have fixed rates [5][7] Group 3: Lender Considerations - Lenders have flexibility in pricing second mortgage products, making it essential for borrowers to shop around for the best rates [6] - Factors influencing rates include credit score, debt levels, and the amount drawn compared to home value [6] Group 4: Financial Implications - Homeowners with low primary mortgage rates may find HELOCs or HELs appealing as they can access home equity without losing favorable mortgage terms [4][14] - The national average for HELOCs is 7.25%, while HELs average 7.56%, serving as benchmarks for potential borrowers [2][13]

Report Summary 1. Report Industry Investment Rating - Not provided in the given content. 2. Core Viewpoints - The Macau gaming industry showed a solid start in 2026 with a 24% year-on-year growth in January's GGR, reaching 90.7% of the January 2019 level. The 2026 GGR target of MOP236bn seems conservative based on the 2025 growth momentum [7][10][11]. - In the fixed - income market, there were various price movements across different sectors such as Chinese/HK higher - yielding space, Chinese properties, SE Asian space, etc. Some bonds tightened while others widened or declined in price [2]. - Chinese IG KUAISH/MEITUA recovered and tightened 1 - 3bps in the morning [3]. 3. Summary by Directory Trading Desk Comments - In the FRN space, there were balanced two - way flows across AU/JP financial names, MAYMK, 2 - 3yr Korean quasi - sovereign issues, and HYNMTR, with the latter closing 1 - 2bps tighter. Front - end to belly Chinese AMC papers, POE/TMTs, and belly financial papers saw initial selling, widening spreads by 1 - 3bps, but spreads largely closed unchanged. TW lifers widened 3 - 5bps, and the Macau gaming complex had a range of - 0.2pt to + 0.1pt change. In Chinese/HK higher - yielding space, WESCHI 26 rose 1.4pts and WESCHI 28 edged 0.2pt higher, while EHICAR 26 - 27 dropped 0.7 - 2.3pts. In Chinese properties, VNKRLE 27 - 29 were 0.9 - 1.7pts lower. In SE Asian space, VLLPM 27 - 29 dived 7.6 - 9.6pts [2]. - In the morning, Chinese IG KUAISH/MEITUA recovered and tightened 1 - 3bps. RMs were buying perps, and PBs were switching out of short - dated to call EU AT1s. ACPM 4.85 Perp/FAEACO 12.814 Perp were 0.7 - 0.9pt lower, and NWDEVL 27 - 28 recovered 0.5 - 0.6pt [3]. Macro News Recap - On Monday, S&P (+0.54%), Dow (+1.05%), and Nasdaq (+0.56%) were higher. The S&P Global Manufacturing January 2026 PMI was 52.4 (higher than the expected 51.9), ISM Manufacturing January 2026 Prices was 59.0 (lower than the expected 59.3), and ISM Manufacturing January 2026 PMI was 52.6 (higher than the expected 48.5). The UST yield was higher, with 2/5/10/30 - year yields at 3.57%/3.83%/4.29%/4.90% [6]. Desk Analyst Comments - Macau's gross gaming revenue (GGR) in January 2026 increased 24.0% year - on - year to MOP22.6bn, representing 90.7% of the January 2019 GGR and being the highest January figure since 2019. The 2026 GGR target of MOP236bn seems conservative as GGR in 2025 increased 9.1% to MOP247.4bn, exceeding the revised forecast of MOP228bn. The 2026 forecast represents a 3.5% year - on - year growth from the 2025 revised GGR forecast. In 2025, Macau's tourist arrival was 40.1mn, a 15% year - on - year increase and exceeding the 2019 record [7][10][11]. - Macau gaming bonds are considered lower - beta and good carry plays. Top picks are MPELs and STCITYs, and WYNMAC'27 and '29 are yield pick - up plays. The report is neutral on MGMCHIs, SANLTDs, and SJMHOLs [13]. Offshore Asia New Issues - Priced: CMBC International Funding (HK) issued USD300mn with a 3 - year tenor at SOFR + 60, rated - / - /BBB - [17]. - Pipeline: No offshore Asia new issues pipeline on this day [18]. News and Market Color - There were 89 credit bonds issued onshore yesterday with an amount of RMB88bn. No credit bonds were issued on 2 Feb 2025 due to the Chinese New Year holiday. Trump said he would roll back 25% punitive tariffs and cut the levy on Indian goods to 18% from 25% in return for India stopping buying Russian oil. China's local government debt increased 15% in 2025 and remains manageable. Indonesia's coal exports declined 19.7% last year to USD24.5bn due to falling global prices. Huatai Securities raised USD698.6mn by selling HKD and RMB - denominated guaranteed bonds due 2028. UPL Limited 9MFY26 EBITDA rose 22% year - on - year to INR59.1bn (cUSD648mn) [19][20].

Group 1 - KPN intends to issue a EUR 500 million Eurobond under its Global Medium Term Note programme to refinance existing debt and for general corporate purposes [1] - KPN is offering to repurchase GBP 400 million of its 5.00% notes due 2026 and up to GBP 300 million of its 5.75% notes due 2029 [2] - The transaction aims to proactively manage KPN's debt structure and reduce near-term refinancing requirements, with specific conditions for the Offers [3] Group 2 - BNP PARIBAS and Citigroup are appointed as Global Co-ordinators for the new bond offering, with several banks acting as Active Bookrunners and Dealer Managers [4] - KPN's announcement includes formal disclosures regarding the Eurobond and Tender Offer [5]

Flight Cost Management Strategies - The article provides tips for finding cheaper flights, emphasizing the importance of using technology and strategic planning to reduce travel costs [5][6][10]. Technology Utilization - Google Flights is highlighted as a primary tool for booking flights, offering features like price alerts and a price grid for alternative dates [6][11]. - An AI feature in Google Flights allows users to describe their ideal trip, helping to find suitable destinations and flights, although it is still in beta [7]. - The Hopper app is recommended for its ability to advise on the best time to book flights and offers a "Price Freeze" option to hold fares for a specified period [8][9]. Booking Timing - The optimal booking window for domestic flights is one to three months in advance, while international flights should be booked three to six months ahead [10][11]. - Booking on Sundays is suggested to yield the best savings according to Expedia's 2025 Air Hacks Report [11]. Travel Timing - Avoiding peak travel periods can lead to significant savings, with midweek flights generally being cheaper than weekend flights [12][13]. - A specific example shows that a direct flight from Toronto to Cancún during peak times can cost $2,052, while shifting the travel dates can reduce the fare to $1,373 [13]. Flight Options - Opting for flights with layovers can be a cost-effective strategy, as direct flights are often more expensive [14].