Wall Street banks launched derivatives trading today to bet against private credit funds. JPM JPMorgan and Barclays started offering CDS on OWL Blue Owl, Ares, and Blackstone funds per FT reporting. The structured products mirror 2008 credit crisis instruments.
Private credit is already troubled. Banks now add a subprime-style twist packaging bets on fund defaults. The $1.8T sector faces rising scrutiny as borrowers struggle with higher rates.
Justice Department nears filing antitrust case against egg producers per WSJ sources. CALM Cal-Maine Foods fell on the news as the $3.6B producer faces cartel probe. The DOJ targets price fixing allegations in the commodity food sector.
AGEN Agenus surged after reporting Phase II data showing immune reprogramming and durable survival. The $178M biotech demonstrated efficacy in PD-1 refractory gastroesophageal cancer patients. The trial combined botensilimab, balstilimab, and agenT-797 showing promise in hard-to-treat populations.
SYY Sysco raised its quarterly dividend to $0.55 from $0.54. The $35B food distributor extended its payout streak as defensive sectors attracted flows. Sprott launched a new ETF targeting rare earths outside China as AI infrastructure demand accelerated.
QCOM Qualcomm urged shareholders to reject Tutanota's mini-tender offer at $150 per share. The $143B chip giant called the unsolicited bid inadequate. Trump administration separately urged oil executives to boost drilling as energy policy shifted.
Financial sector absorbed heightened credit risk warnings while biotech and commodities grabbed individual catalysts.
ORTEX Market Intelligence content is generated by AI from a snapshot of ORTEX's proprietary data. Content is informational only and does not constitute investment advice.
