TheChek News Flow

Global equities headed for their longest losing streak in more than two months as mounting inflation concerns drove bond yields higher, pressuring stocks and prompting investors to rethink valuations after a record-breaking rally. MSCI’s All Country World Index slipped 0.2%, set for a fourth day of declines, as the firm’s Asia Pacific gauge dropped 1.1%. South Korea’s Kospi, a key barometer for artificial intelligence-related investments, fell more than 2%, with Samsung Electronics Co. declining after its labor union decided to go on strike. Futures indicating losses will spread to Europe and the US. Brent crude held above $111 a barrel, with no sign of easing in the Iran conflict. That’s stoked inflation concerns, weighing on government bonds globally. Yields on the 30-year Treasuries climbed to levels last seen in 2007 on concern elevated energy costs may push the Federal Reserve toward an interest-rate hike rather than a cut.  Global stocks have retreated from all-time highs after investors spent weeks brushing aside concerns over the war in the Middle East on optimism that AI spending would continue to fuel corporate earnings growth. Attention is now turning to Nvidia Corp.’s earnings on Wednesday, with investors increasingly questioning whether the AI-driven rally has run too far, too fast. The 30-year yield climbed as high as 5.20% Wednesday, a level last seen during the global financial crisis. Longer-maturity government bond yields have surged to the highest levels in almost two decades, according to a Bloomberg gauge. The index, which tracks government bonds maturing in 10 years or longer, has dropped 4.6% this year on concern accelerating inflation will convince central banks to raise rates.

“The issue of rising bond yields is still something which could create problems for today’s expensive stock market,” said Matt Maley at Miller Tabak.

Macro :
- Ari Emanuel, Mark Shapiro Are Acquiring Minority Stakes in NFL’s Las Vegas Raiders

Keep an eye on :

- ACS SM : ACS Taps AI Building Hype in €2.1 Billion Stock Sale: ECM Watch

- AED BB : Aedifica FY Dividend per Share Forecast Beats Estimates

- ALPHA GA : Alpha Bank 1Q Normalized Net Income Beats Estimates

- ARR NO : Arribatec Group 1Q Revenue Under Estimates

- BFF IM : BFF Sounds Out Banks, Funds in Search for Partner: Messaggero

- BIOAB SS : BioArctic 1Q Net Revenue SEK437.6M Vs. SEK1.29B Y/y

- CAVA US : Cava Group (CAVA) is up 6.0% after raising its annual sales outlook as diners flocked to its restaurants in the first quarter, defying the crunch in consumer budgets that has weighed on the industry

- DHER GY : Delivery Hero Targets 5%-8% Adj Ebitda/GMV Margin by 2030

- EDPR PL : EDP Renewables to Sell Brazil Operations to

- EMBRACB SS : Embracer to Spin Off Fellowship Entertainment in Stockholm (1)

- RF FP : Eurazeo to Buy Majority Stake in Nextron Systems; No Terms

- RF FP : Eurazeo Raises €1 Billion at First Close of Smaller Deals Fund
- ENX FP : Euronext 1Q Adjusted Ebitda Beats Estimates

- HSBA LN : HSBC on Track to Achieve $1.8b of Cost Reallocations

- IPX LN : Boaz Weinstein’s Hedge Fund Takes Aim at Impax’s ‘Terrible’ Run

- MBG GY : Mercedes Takes Aim at Porsche, Ferrari With Electric Sports Car

- LOGN SW : Logitech Proposes Div Boost to CHF 1.36 Per Share

- META US : Meta Offers AI Rivals in Europe Free WhatsApp Access: Reuters

- NESN SW : Nestle’s Perrier Water Bottling Site Raided: Reuters (May 19)

- NP3 SS : NP3 Fastigheter Offers Up to 10m Preferred Shares, NP3 Fastigheter Offering Prices at SEK30/Preferred Share

- OBCK GY : Ottobock Reviews Legal Steps Regarding Grizzly Report

- Open AI IPO : *OPENAI NOW OFFERING GUARANTEED COMPUTE CAPACITY

- ORK NO : Orkla 1Q Adjusted Ebit Misses Estimates

- PPC GA : Greek Public Power Share Offer May Price at €18.63/Share: Terms

- SALM O : Salmar Boosts FY Harvest Forecast, Beats Estimates

- SHEL LN : Argentine Pipe Operator VMOS Inks Contract With Shell (1)

- SpaceX IPO : SpaceX Going Public Is Igniting Wall Street’s Own Race to Orbit

- Space X IPO : Goldman Sachs Is Said to Lead SpaceX’s Mega-IPO Bank Lineup

- SpaceX IPO : SpaceX Is Said to Plan to Buy Startup Cursor 30 Days After IPO

- R3NK GY : RENK Group Holder KNDS Offers 5.8m Shares: Terms

- SPG GY : Springer Nature Holder BC Partners Offers EU100 million Shares

- TIT IM : Telecom Italia Says Optional Conversion Effective on May 20

- VK FP : Vallourec Gets Major Line Pipe Orders From ExxonMobil in Guyana

- DG FP : Vinci April Passenger Traffic -1.2% Ypsomed Sees 2027 Ebit CHF210M to CHF230M, Est. CHF214.3M

- YPSN SW :