IGSB

The latest round of 13F filings from institutional investors is out, revealing to the world the stocks that some of the richest and most successful investors have been buying and selling.

VTB Bank PJSC, Russia’s second-biggest lender, is betting on gold and other precious metals to boost profits this year as investors flock to havens amid the global pandemic.

Companies that offer online sports gambling like DraftKings Inc., Penn National Gaming Inc., and Flutter Entertainment Plc rallied Wednesday morning after a trio of states voted in favor of ballot measures aimed at legalizing sports betting and other gaming expansion.

A familiar sight emerged in stock charts as early returns suggested a tight presidential race: Lopsided gains in tech shares that have come to be known as the stay-at-home trade.

The sudden stop to markets induced by COVID-19 caused a substantial repricing of credit risk globally, and central banks, treasuries, and ministries of finance around the world responded unequivocally.As central banks eased liquidity concerns and governments alleviated solvency risks through a massive fiscal response, credit spreads tightened rapidly within more defensive sectors.The focus now is on the economic cycle, as basic industries, capital goods, energy, and other cyclical sectors in both developed and emerging markets are still trading at spreads wide to historical levels, particularly in the lower-quality segments of the market.

We downgrade investment grade credit to neutral and increase our overweight in high yield as we see volatility rising after a rally in risk assets.Negotiations over a new U.S. fiscal package looked to have stalled. We still expect a sizable package, but risks of a no-deal outcome are growing.Markets will focus on the European Central Bank’s updated projections and any policy implications. The traditional U.S. election campaign season kicks off.