Mercury Raises $200M at $5.2B, Bids to Be a Real Bank
Mercury’s $200M Series D at a $5.2B valuation, led by TCV, signals fintech’s funding recovery as the startup pursues a U.S. national bank charter.
capital markets
IMF Slashes 2026 Growth Outlook: What Capital Markets Must Now Price In
The IMF’s April 2026 World Economic Outlook delivers a stark growth downgrade. Here’s how bond, equity, and sovereign debt markets are responding.
Uber Eyes Full Delivery Hero Bid After 25% Stealth Stake
Bloomberg: Uber holds 19.5% of Delivery Hero plus 5.6% in options. A full bid on the EUR10B Frankfurt-listed delivery giant would reshape global food delivery.
Convertible Bonds Explained: When Debt Turns Into Stock
How convertible bonds work: conversion ratio, conversion premium, the bond floor, convertible arbitrage, and the four main types of converts.
FedEx-Advent $9.3B InPost Tender Opens May 26
InPost’s €7.8B/$9.3B take-private tender from FedEx, Advent, PPF and founder Rafal Brzoska opens May 26 at EUR15.60/share – a 50% premium over Jan 2 levels.
SpaceX Files S-1: $75B Raise Would Be Largest IPO Ever
SpaceX disclosed $18.7B in 2025 revenue, a $4.3B Q1 net loss and 85% Musk voting control as it targets a June 12 Nasdaq debut under SPCX.
Fed’s Bank CFO Surveys: Reserves Still ‘Ample’ at $3.10T
Fed released two Senior Financial Officer Surveys May 14: bank CFOs weighed in on reserves and discount window operating days as $3.10T sits at the Fed.
Fed Floats ‘Payment Accounts’ to Let Fintechs Onto Its Rails
Fed proposes a new ‘payment account’ for fintechs: direct payment rails, no intraday credit, no IORB, hard balance caps. 60-day comment period.
Fed Minutes: ‘Many’ Wanted Easing Bias Out as PCE Hit 3.5%
April FOMC minutes show a hawkish tilt: Miran dissented for a cut, while many wanted the easing-bias language gone as March PCE hit 3.5%.
2-Year Treasury Tests 4.10% as Markets Erase 2026 Fed Cuts
The US 2-year Treasury yield is near a 52-week high at 4.07% as traders price out Fed rate cuts for the rest of 2026.