Group 1: Trade and Tariffs - Taiwan has secured Most Favoured Nation (MFN) tariff treatment for all items under Section 232, which is expected to protect high-tech semiconductor supply chains from US tariff volatility [2][8] - The US Supreme Court ruled 6-3 that the President exceeded his authority under the International Emergency Economic Powers Act (IEEPA) to impose global tariffs, reaffirming that tariff powers primarily rest with Congress [3][8] - In response to the Supreme Court ruling, the White House is considering alternative trade measures, including a new 10% temporary import surcharge under Section 122 of the Trade Act of 1974 [4][8] Group 2: Corporate Financials - Altice France's total debts and liabilities have reached approximately €17 billion, indicating significant leverage accumulated during its expansion [5][8] - Creditors are reportedly becoming more aggressive as Altice France's founder, Patrick Drahi, attempts to restructure assets to maintain control [5] Group 3: Automotive Industry - The National Highway Traffic Safety Administration (NHTSA) has issued new recall filings affecting over 13,000 vehicles, including recalls from Triumph Motorcycles America Ltd. (8,849 vehicles), Toyota Motor Corporation (4,374 vehicles), and General Motors LLC (22 vehicles) [7][8]

Group 1 - The article discusses the current cash yield opportunities available for investors, highlighting that many options offer yields above 4% [1] - It emphasizes the importance of selecting the right accounts for cash to maximize earnings, with top savings accounts, CDs, brokerage cash accounts, and Treasuries providing solid returns with minimal risk [1] - The Federal Reserve's current stance suggests that cash yields will remain steady in the near term, making it a favorable time for investors to explore high-yield options [1] Group 2 - The article provides a breakdown of potential earnings on different cash balances, showing that a $10,000 deposit at a 4% account could yield approximately $200 in interest over six months [1] - It categorizes the best cash options into three main types: U.S. Treasury products, brokerage and robo-advisor products, and bank and credit union products, each with distinct characteristics and yields [1] - Current rates for savings accounts, CDs, and Treasury securities are analyzed, indicating that competitive yields are still available across various financial institutions [1]

Group 1 - KBRA assigns preliminary ratings to ten classes of mortgage-backed certificates from Angel Oak Mortgage Trust 2026-2 (AOMT 2026-2), a $272.8 million non-prime RMBS transaction [1] - The underlying collateral consists of 585 residential mortgages, with 52.1% classified as non-qualified mortgages (Non-QM) and 47.9% exempt from the Ability-to-Repay/Qualified Mortgage (ATR/QM) rule [1] - Angel Oak Mortgage Solutions and Emporium TPO are the largest originators, accounting for 24.8% and 10.1% of the pool respectively [1] Group 2 - KBRA's rating approach includes loan-level analysis through its Residential Asset Loss Model (REALM), third-party loan file due diligence, cash flow modeling analysis, and reviews of key transaction parties [1] - The transaction's legal structure and documentation were also assessed as part of the rating process [1] - The report provides access to ratings and relevant documents for further details [1]

Core Insights - KBRA has assigned preliminary ratings to eight classes of mortgage-backed notes from Aspire Mortgage Trust 2026-1, a $391.3 million non-prime RMBS transaction [1] Summary by Category Transaction Overview - Aspire Mortgage Trust 2026-1 (SPIRE 2026-1) involves a total of $391.3 million in non-prime residential mortgage-backed securities (RMBS) [1] - The underlying collateral consists of 752 residential mortgages, with fixed-rate mortgages (FRMs) making up 99.2% and hybrid adjustable-rate mortgages (ARMs) comprising 0.8% of the pool [1] Loan Classification - The loans are categorized as follows: - Qualified Mortgages – Safe Harbor (APOR) (27.3%) - Qualified Mortgages – Rebuttable Presumption (APOR) (3.4%) - Non-Qualified Mortgages (Non-QM) (16.8%) - Exempt from Ability-to-Repay/Qualified Mortgage (ATR/QM) rule (52.5%) due to non-consumer loan origination [1] Rating Methodology - KBRA's rating approach included a loan-level analysis using its Residential Asset Loss Model (REALM), third-party loan file due diligence, cash flow modeling of the transaction's payment structure, and reviews of key transaction parties [1] - The analysis also involved an assessment of the transaction's legal structure and documentation, as detailed in KBRA's U.S. RMBS Rating Methodology [1]

Core Viewpoint - Community West Bancshares announced the retirement of Board Member Tom L. Dobyns, effective March 31, 2026, highlighting his contributions during a transformative period for the company [1] Group 1: Retirement Announcement - Tom L. Dobyns will retire from the Boards of Directors of Community West Bancshares and Community West Bank on March 31, 2026 [1] - Dobyns joined the Boards on April 1, 2024, after the company's merger and has been a director since 2017 [1] - His leadership style and governance approach have been recognized for strengthening Board discussions during growth and transition [1] Group 2: Contributions and Background - Dobyns has over four decades of executive and banking leadership, serving on the Bank's Audit, Risk Oversight, and Retirement Committees, and as Chair of the Retirement Committee [1] - His experience includes roles as CEO of Mission Community Bank and President and CEO of American Security Bank, along with founding a consulting firm [1] - The Chairman of the Board, Daniel J. Doyle, acknowledged Dobyns' insights and collaborative approach as vital during the company's growth [1] Group 3: Company Overview - Community West Bancshares, established in 1979, operates Community West Bank, which has full-service Banking Centers throughout Central California [1] - The company focuses on exceeding expectations in community banking and offers various services including Commercial Lending and Private Banking [1] - The Board of Directors includes notable members such as Daniel J. Doyle (Chairman) and James J. Kim (CEO) [1]

RT TBPN (@tbpn).@PalmerLuckey explains in detail why he got serious about starting Erebor after SVB's collapse:"I realized you didn't have banks aligned with US interests, aligned with deep tech, hard tech, energy, things that are really complex and hard to understand, but do really matter.""You have farmers' banks that serve communities that are doing agriculture. You have banks that are doing oil and gas quite well. But when it comes to tech, it's a pretty sparse field.""Thinking about that, and also a lo ...

Core Viewpoint - Realkredit Danmark A/S has published the drawing rates for its bonds as of February 20, 2026, following the Capital Markets Act requirements, with specific details regarding payment dates and adjustments for negative coupons [1]. Group 1: Bond Drawing Rates - The drawing rates for bonds issued by Realkredit Danmark A/S are announced for payment dates on April 1, 2026, and July 1, 2026 [2]. - The bond identified by ISIN DK0004616950 is included in the list despite a change in its publication date to March 27, 2026, due to a negative coupon [2]. Group 2: Negative Coupon Adjustments - The withdrawal amount for bonds is fixed, but any negative coupon will be deducted from the amount withdrawn before payment to the investor [4]. - If the withdrawal amount does not cover the negative coupon, an additional withdrawal will occur based on the market price, corresponding to the remaining amount [4]. - No preliminary drawing rate will be calculated for the specified ISIN until the new publication date [4].

Core Viewpoint - U.S. investors are withdrawing funds from the U.S. stock market at the fastest rate in 16 years, with $75 billion pulled in the last six months and $52 billion since the start of 2026, as they seek better-performing overseas markets [1][2]. Group 1: Investment Trends - U.S. investors have shifted their focus from domestic equities to emerging market equities, with a notable $26 billion invested in emerging markets this year, particularly in South Korea and Brazil [5]. - The trend of diversifying away from U.S. assets is gaining traction among U.S. investors, reflecting a broader shift in investment strategy [2][4]. Group 2: Market Performance - The "buy America" trade has historically rewarded investors due to strong economic performance and tech sector dominance, but recent concerns about AI risks have diminished the appeal of U.S. stocks [3][4]. - Bank of America's fund manager survey indicates a significant shift from U.S. equities to emerging market equities, marking the fastest rate of change in five years [4]. Group 3: Currency Impact - The U.S. dollar has declined by 10% against a basket of currencies since January, which, while making overseas investments more expensive, also enhances the dollar value of dividends from foreign markets [6].

Core Viewpoint - Emerging market stocks are experiencing a significant rally, driven by optimism surrounding artificial intelligence and increased investment in developing economies [1][2]. Group 1: Market Performance - The iShares MSCI Emerging Markets ETF has risen over 10% year to date, outperforming the S&P 500, which remains flat [2]. - Emerging market stocks rallied approximately 30% in dollar terms in 2025, with strong performance noted in Asian markets such as Taiwan and South Korea due to high demand for AI-related hardware [2][3]. - Goldman Sachs projects the MSCI Emerging Markets index to return nearly 30% in 2026, supported by strong earnings, a weakening US dollar, and favorable macroeconomic trends [3]. Group 2: Future Expectations - Analysts expect some of the favorable conditions from 2025 to continue into 2026, leading to good returns in emerging markets [4]. - The resilience of Chinese exports and the economic benefits from falling commodity prices are anticipated to support the ongoing rally [3]. Group 3: Stock Selection Methodology - The selection of the 10 best emerging market stocks was based on the iShares MSCI Emerging Markets ETF and Yahoo Finance stock screeners, focusing on companies with positive upside potential as of February 17 [6]. - Stocks were ranked according to the number of hedge fund holders, as research indicates that imitating top hedge fund picks can lead to market outperformance [7]. Group 4: Featured Stocks - ZTO Express (NYSE:ZTO) has an upside potential of 6.65% and is supported by a recent upgrade from Macquarie, citing preliminary fourth-quarter volume growth of 9% [9][10]. - Credicorp Ltd. (NYSE:BAP) shows an upside potential of 6.88%, with a fourth-quarter net profit of $468.8 million and a focus on loan growth driven by strong retail momentum [14][16].

Core Viewpoint - Blue Owl Capital's decision to limit redemptions from its private credit fund has raised concerns about the potential risks in the $1.8 trillion private credit market, leading to significant stock price declines for Blue Owl and its peers [1][3][12]. Group 1: Blue Owl Capital's Actions - Blue Owl Capital announced that investors in Blue Owl Capital Corp II (OBDC II) will no longer be able to redeem shares quarterly, instead opting for periodic distributions funded by loan recoveries, asset sales, or other transactions [3][4]. - The company has sold approximately $1.4 billion in direct loan investments at a face value of 99.7% to provide promised liquidity to investors [3][6]. - Blue Owl's stock price has dropped over 15% this month, reflecting growing investor concerns about the private credit industry amid market valuation issues and the quality of loans to highly leveraged companies [5][12]. Group 2: Market Reactions and Implications - The stock price decline of Blue Owl has negatively impacted the broader market, dragging down shares of other private equity firms such as Ares Management, Apollo Global Management, and Blackstone [1][3]. - Analysts have described the stock price drop as an overreaction, noting that OBDC II had already suspended redemptions since November [9][10]. - The sale of loans is seen as a positive step for liquidity, with analysts suggesting it establishes an efficient process for returning capital to investors [6][8]. Group 3: Broader Industry Context - Bank of America has committed $25 billion to private credit transactions, joining other major banks in increasing their involvement in this rapidly growing market [12][14]. - The private credit industry has seen significant expansion, with firms like Ares Management and Apollo Global Management heavily investing in this sector [13][14]. - The relationship between banks and alternative asset management firms is becoming increasingly complex, with banks sometimes viewing private credit growth with skepticism [14].