Pilar Gomez-Bravo, fixed income portfolio manager at MFS Investment Management, and Andrzej Skiba, head of BlueBay US fixed income at RBC Global Asset Management join Scarlet Fu on "Bloomberg Real Yield." Junk bonds tied to data center developers traded weaker after elected Texas Democratic Governor Gina Hinojosa called for an immediate moratorium on development for the AI projects. (Source: Bloomberg)
Pilar Gomez-Bravo, fixed income portfolio manager at MFS Investment Management, and Andrzej Skiba, head of BlueBay US fixed income at RBC Global Asset Management join Scarlet Fu on "Bloomberg Real Yield." Junk bonds tied to data center developers traded weaker after elected Texas Democratic Governor Gina Hinojosa called for an immediate moratorium on development for the AI projects. (Source: Bloomberg)
U.S. Oil and Gas Association President Tim Stewart warns of 'dire consequences' for the economy and energy industry following Democrats' midterm election victories.
Hinojosa has questioned a $1.66 billion tax break for Musk’s $16.8 billion Terafab chip plant, and Democrats now control the Texas House.
The cost to protect SpaceX debt against default hit a record high Thursday, extending a move sparked by US election results that raised political risks for Elon Musk’s Texas-based companies. Shares in Musk’s SpaceX and Tesla Inc. tumbled amid a broad equity market selloff, led by a rout in chipmakers.
The Lone Star State’s business-friendly playbook could be rewritten by the Democrats’ election sweep there.
The overwhelming nature of the Democratic win is making everyone rethink energy strategies from Iran to Texas data centers.
On Tuesday, U.S. voters delivered an overwhelming victory for Democratic candidates throughout the country that will upend the halls of power in Washington and data center hotbeds like Texas.
Three Democratic governors elected Tuesday have promised to reexamine data center expansion.
James Talarico is now Texas’ first elected Democratic Senator in nearly four decades. And it all started when one struggling student’s story inspired him.
Democrats took control of the House and Senate, flipping Senate seats in Texas, South Carolina, North Carolina, Kansas and Ohio.
Democratic victories in Texas and other states raise long-term questions about the AI buildout, though they do not “unwind projects already funded.”
Democrats’ capture of Congress raise expectations of tougher regulation of AI sector; US stock futures turn positive, reversing earlier declines And Chris Turner , global head of markets at ING, says: Investors will be parsing what this all means. For example, Gina Hinojosa won the Texas governor’s race on a ticket of wanting an immediate moratorium on data centre buildouts. Given AI’s role in powering the US economy, speculation over whether a new Democrat Congress would slow AI capital expenditure plans briefly hit markets. The chip exporter-heavy stock markets of Korea and Taiwan were briefly down 3-4% overnight on news of the blue wave, but have since recouped all those losses. For bond investors, the significance of the midterms is ultimately about what they mean for US borrowing. The result makes further significant fiscal expansion harder to deliver through Congress, potentially easing some of the pressure around government borrowing and Treasury issuance. That could be supportive for US Treasuries, but it won’t determine the direction of yields on its own. Growth, inflation and the Federal Reserve remain crucial. If the economy slows and inflation continues to ease, there is a stronger case for Treasury yields to move lower. Bonds are coming out as the clear winner as markets put the AI trade on the chopping block and embrace the higher possibility that further tax cuts are put on ice and government spending slows. Continue reading...
Elon Musk’s pick lost in Texas and billionaires Vivek Ramaswamy and Rick Jackson lost their own races, though California’s wealth tax is trailing.
Democrats flipped governor’s races in Texas and Ohio despite nine-figure spending, and won Iowa’s governorship for the first time since 2006.
Talarico is the first Democrat to win a Senate race in Texas since 1988, carrying suburban counties Trump won two years ago.
From Texas to Los Angeles, traders are placing their bets. Recent surprises suggest the odds warrant caution.
Democrats are favored to take both the House and Senate in Tuesday’s U.S. midterm election, but there is another race to which artificial-intelligence investors should be paying close attention.
Nate Silver tells us he is calling this midterms the “rock and a hard place election” — the background conditions are great for Democrats to win both the House and the Senate, but for that to come to pass, the party has to pull off some things that haven't happened in generations, like winning Texas. To believe that will happen requires a certain leap of faith, which is anathema to pollsters. Still, the polls generally believe Democrats are favored, but many professional pollsters would end up w
Snyder told actor Terry Crews in an interview on the company’s website that the chain’s Texas supply route to Tennessee could make all three states a natural next step.
Midland, Michigan, tops the list of best places to retire, with affordable communities in Florida, Texas and other states also ranking in the top 10.
"It is simply not possible to fund the state’s needs by leaning on a few hundred people, as politically appealing as that may be."
With gas prices climbing and new cars costing more than $50,000 on average, many drivers are looking to keep their older vehicles on the road longer. But mom-and-pop garages are becoming harder to find, and dealership repairs can be expensive. Mark Strassman reports on an alternative.
Some of the social media posts paid for by Gina Hinojosa’s campaign for Texas governor don’t include a disclosure, despite a state regulation that likely requires it.
Wonder is leaning into automation and user-built restaurants as founder Marc Lore prepares the startup for a potential IPO.
The air taxi networks are slated for Austin, Houston and the Dallas-Fort Worth area, with the goal to increase connectivity between major airports, business hubs and tourist destinations.
A citizen referendum, only the second of its kind in Georgia history, seeks to block a zoning amendment Ire Gene Grovner stood behind his house on a recent morning, between chicken pens on one side and rows of winter collard greens on the other, holding a knife and skinning a raccoon splayed across a wood post. “The meat is good roasted,” Grovner said. He pointed to the collards, a burst of green in the winter cold, and the chickens, with their eggs. “If you ain’t lazy, you can live good here,” he said, referring to Sapelo Island off the coast of southern Georgia . Continue reading...
