BofA Warns Investment Banking Fees to Drop Over 10% in Q3
Bank of America expects Q3 investment banking fees to drop over 10% as dealmaking cools, CEO Brian Moynihan warned, sending BAC shares down 5%.
capital markets
Dangote Refinery Opens $1.6B IPO: Africa’s Largest Listing
Dangote Petroleum Refinery opened its historic ₦2.15T ($1.6B) IPO on Sept. 14, 2026, offering 4.1B shares at ₦525 on the NGX to expand refining capacity.
Debt Covenants Explained: Affirmative, Negative, and Cov-Lite
Understand debt covenants: affirmative vs negative rules, financial maintenance tests, debt-to-EBITDA math, and why covenant-lite loans dominate modern credit.
10-Year Treasury Hits 4.98% as $6B Buyback Demand Plunges
The 10-year Treasury yield neared 5% on Sept. 14 as Treasury’s expanded $6B buyback logged a record-low 1.7x cover, rattling debt markets ahead of the Fed.
Private Credit Divide: 12% of Small Loans Face Distress
Houlihan Lokey’s DataBank reveals a divide in private credit: distressed loans jumped to 12% for small borrowers while mega-cap direct lending holds firm.
Secretive Backer Vy Capital Unveils $46B SpaceX Stake
Dubai-based Vy Capital built a $46.4B stake in SpaceX across 271.8M shares, propelling its AUM past $50B alongside Elon Musk. Here is how the bet unfolded.
SpaceX Faces $15.5B Inflow Ahead of 2.3B Share Unlocks
SpaceX’s Nasdaq-100 weighting rises to 2.25% on Sept. 21, driving $15.5B in passive buying as 2.3B insider shares approach unlock deadlines.
OpenAI Shelves 2026 IPO: Why Altman Delayed the $1T Listing
Sam Altman confirms OpenAI won’t go public in 2026, calling an IPO ‘ill-advised’ as Anthropic picks Nasdaq and AI labs weigh a voluntary safety slowdown.
Sovereign Debt Explained: How Nations Borrow and Default
Sovereign debt explained: how nations issue bonds, what separates domestic from foreign borrowing, and how debt restructurings actually work.
Bessent Triples Buybacks to $6B as Bond Market Rebels
Treasury Secretary Scott Bessent tripled long-end buybacks to $6B, but the 30-year yield held near 5.32% as Trump’s $1.23T dividend pledge hit debt markets.