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| Titel | Ex-Datum | Zahldatum | Bruttobetrag |
AXA SA |
05.05.25 |
07.05.25 |
2.1500 € |
AXA SA |
30.04.24 |
06.05.24 |
1.9800 € |
AXA SA |
08.05.23 |
10.05.23 |
1.7000 € |
AXA SA |
06.05.22 |
10.05.22 |
1.5400 € |
AXA SA |
07.05.21 |
11.05.21 |
1.4300 € |
AXA SA |
07.07.20 |
09.07.20 |
0.7300 € |
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| Datum / Uhrzeit | Titel | Bewertung |
| 15.07.25 08:41:20 | Japan Bond Rout Touches New Pain Point as 10-Year Yield Rises |  |
| (Bloomberg) -- Japan’s long-term government debt yield touched the highest level since 2008, as a raft of election tax-cut pledges puts investors on edge and risks higher costs all around in the country. Most Read from Bloomberg Why Did Cars Get So Hard to See Out Of? Advocates Fear US Agents Are Using ‘Wellness Checks’ on Children as a Prelude to Arrests LA Homelessness Drops for Second Year Tuesday’s rise of 2.5 basis points in the 10-year yield — to 1.595% — while modest, is a reminder that it’s not just bonds of 20 to 40 years that are under pressure, even if the most extreme moves have been in these super-long maturities. The uptick shows the increased vulnerability of Japan’s bond market after its central bank started pulling back from massive purchases that placed a protective cushion around yields for more than a decade. An upper house election on Sunday that could see the ruling coalition lose its majority is further fueling concerns that the government will loosen its grip on its finances even more, adding to pressure on yields. “The biggest story in Japan this week must be the spiking yields” that is playing up again, said Amir Anvarzadeh, Japan equity strategist at Asymmetric Advisors Pte. “Bond vigilantes are finally focusing on Japan,” where debt to gross domestic product is elevated, a quarter of the annual budget is set aside for refinancing debt that was issued at lower rates, and politicians are talking about tax cuts to secure power, he said. Prime Minister Shigeru Ishiba’s government is promising to ramp up spending through a familiar approach of cash handouts, while opposition parties are largely campaigning on much more expensive plans to lower the sales tax. The latest polls suggest the ruling coalition is in danger of losing its majority in the upper house, further complicating its ability to press ahead with policy and putting more pressure on it to cut taxes. If the upward movement in yields continues after the election, calls may increase for authorities to do more. Already, the Bank of Japan has announced plans to slow down its withdrawal from the market and the Finance Ministry has trimmed its issuance of debt at the super-long end. The government is closely monitoring market moves of Japan’s sovereign debt, according to Economic Revitalization Minister Ryosei Akazawa, who added that fiscal concerns won’t stop the government from making the necessary budget allocations to realize its economic goals. He expects the country’s fiscal health to improve as a more growth-oriented economy emerges, projecting the kind of messaging bond vigilantes often jump on. Story Continues The selloff in Japan’s $7.7 trillion bond market is already spilling over into major debt markets, amplifying ructions driven by fears that governments around the world are spending more than they can afford. Japan’s 20- and 30-year yields both climbed to their highest levels since 1999 on Tuesday. The 10-year bond yields are particularly watched because they are seen as having a direct impact on household and business spending through higher mortgage rates and other borrowing costs. Atsushi Takeda, chief economist at Itochu Research Institute, said businesses broadly don’t take on debt in the super-long end, hence the rise in 10-year bond yields is something “we must keep a close eye on.” Earlier spikes in yields in April and May slowed growth in loans by the nation’s banks, hinting at the caution they generate for both borrowers and lenders. Average long-term loan rates among domestic banks in April hit the highest since 2009 at 1.428% before edging down in May. The latest gain in yields may push rates up again. The 10-year yield is being driven by instability in super-long bonds due to demand concerns and declining liquidity, said Takahiro Otsuka, senior fixed income strategist at Mitsubishi UFJ Morgan Stanley Securities Co. “It can’t be said with certainty that the 10-year yield will stop rising at around the 1.6% level.” Any runaway increase in this yield would be detrimental to Japan’s finances, according to Mizuho Financial Group Inc.’s chief executive officer. If it goes beyond 3% or so, that would hurt the budget, according to Masahiro Kihara, CEO of Japan’s third-biggest bank, who spoke in a Bloomberg Television interview. What Bloomberg Strategists say: “The common thread between US, European and Japanese long-term debt is that fiscal policy is carrying more weight than monetary policy in terms of setting market yields...This yield genie is out of the bottle and not going back in any time soon.” — Mark Cranfield, MLIV Strategist. Read more on MLIV. “The environment for selling bonds will continue,” said Tadashi Matsukawa, head of bond investments at PineBridge Investments Japan Co. “Buybacks from the Ministry of Finance could be one of the key measures to stabilize yields.” For now, policymakers will likely try to play down the vulnerability of the market. Japan’s Finance Minister Katsunobu Kato said on Monday that bond yields are decided by market participants, and he would refrain from commenting on specific moves. Bank of Japan Governor Kazuo Ueda has said the nation’s super-long yields have a limited impact on the real economy compared to shorter-term debt. Developments will be carefully monitored, he said. Meanwhile, some market observers see the gains as a pre-election spike rather than a trend that threatens economic growth or the nation’s government. The consensus among JGB investors is that any implementation of a consumption tax cut will be temporary and limited, said Ryutaro Kimura, a senior fixed-income strategist at AXA Investment Managers Japan Ltd. in Tokyo. “Upward pressure on interest rates is likely to peak out once uncertainty over fiscal policy recedes after the election.” --With assistance from Yoshiaki Nohara, Masahiro Hidaka, Aya Wagatsuma, Gregory Turk and Paul Jackson. (Updates throughout with additional comments.) Most Read from Bloomberg Businessweek Thailand’s Changing Cannabis Rules Leave Farmers in a Tough Spot The New Third Rail in Silicon Valley: Investing in Chinese AI ‘Our Goal Is to Get Their Money’: Inside a Firm Charged With Scamming Writers for Millions ‘The Turbulence Is Brutal’: Four Shark Tank Businesses on Tariffs Will Trade War Make South India the Next Manufacturing Hub? ©2025 Bloomberg L.P. View Comments |
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| 09.07.25 21:13:01 | Market Girds for Pivotal 20-Year Japan Bond Sale as Yields Rise | |
| (Bloomberg) -- An auction of 20-year Japanese government bonds Thursday will beam the searchlight back on rising yields as a looming election heightens concerns about fiscal expansion. Most Read from Bloomberg Singer Akon’s Failed Futuristic City in Senegal Ends Up a $1 Billion Resort Are Tourists Ruining Europe? How Locals Are Pushing Back Can Americans Just Stop Building New Highways? Denver City Hall Takes a Page From NASA Philadelphia Trash Piles Up as Garbage Workers’ Strike Drags On The sale is just one of several in major debt markets this week as increasing yields on some longer maturities show how investors are worried about widening budget deficits. The 30-year Japanese bond yield breached the key 3% level on Tuesday again, in sight of the peak reached in May, and the 20-year yield is near the highest in about 25 years. “It is unlikely that major Japanese institutional investors, including banks and life insurers, will actively bid” in the auction, as they await the results of the July 20 election and their impact on fiscal policy, said Ryutaro Kimura, a senior fixed-income strategist at AXA Investment Managers Japan Ltd. in Tokyo. Speculation of less demand comes amid risks to the budget with the ruling Liberal Democratic Party and its coalition partner seeking to entice voters with cash handouts while opposition lawmakers push for lower taxes. In addition, uncertainty over tariffs, with Japan scrambling for a deal after US President Donald Trump announced they will be increased to 25% from Aug. 1, may deepen the risk of the economy entering a technical recession. The auction results are due at 12:35 p.m. Tokyo time, and traders will be on the watch for the bid-to-cover ratio, which measures the level of interest from investors. Another important metric is the tail, which measures the gap between the average and lowest-accepted prices. A wider reading tends to indicate weaker demand. Last month’s 20-year bond sale showed some wariness in the market, even after the government adjusted its borrowing plan to calm surging yields. Japan will trim the volume of 20-, 30- and 40-year bonds sold in regular auctions by a combined ¥3.2 trillion ($22 billion) through the end of March 2026. The changes came into effect from July, and though this helped some recent sales such as the 30-year last week, yields have still pushed higher. “If the 20-year auction came out weak, in this market condition it would affect the 10-year sector in a negative way,” said Shoki Omori, chief strategist at Mizuho Securities Co. in Tokyo, referring to the most liquid Japanese government bond. Story Continues Sovereign bond yields surged globally earlier this week, with the 30-year Treasury yield heading back toward 5% as some of the world’s biggest banks sent fresh warnings over fiscal spending concerns. US Treasuries rallied on Wednesday after an auction of 10-year notes drew strong demand, easing concerns that investors will balk at financing swelling US deficits. In Japan, some major life insurers continue to be skeptical. Meiji Yasuda Life Insurance Co. said it plans to avoid actively investing in Japanese super-long-term government bonds for the next year or two as interest rates may rise and supply pressures build. This is right when the central bank - the dominant holder - is trying to gradually back out of the market. --With assistance from Naoto Hosoda. Most Read from Bloomberg Businessweek Will Trade War Make South India the Next Manufacturing Hub? ‘Our Goal Is to Get Their Money’: Inside a Firm Charged With Scamming Writers for Millions Pistachios Are Everywhere Right Now, Not Just in Dubai Chocolate ‘Telecom Is the New Tequila’: Behind the Celebrity Wireless Boom SNAP Cuts in Big Tax Bill Will Hit a Lot of Trump Voters Too ©2025 Bloomberg L.P. View Comments |
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| 01.07.25 14:00:00 | Best Momentum Stocks to Buy for July 1st | |
| Here are three stocks with buy rank and strong momentum characteristics for investors to consider today, July 1st: New Gold Inc. NGD: This gold mining company has a Zacks Rank #1 and witnessed the Zacks Consensus Estimate for its current year earnings increasing 7.7% over the last 60 days. New Gold Inc. Price and ConsensusNew Gold Inc. Price and Consensus New Gold Inc. price-consensus-chart | New Gold Inc. Quote New Gold’s shares gained 36.7% over the last three months compared with the S&P 500’s advance of 8.9%. The company possesses a Momentum Score of A. New Gold Inc. PriceNew Gold Inc. Price New Gold Inc. price | New Gold Inc. Quote AXA SA AXAHY: This banking and insurance company has a Zacks Rank #1 and witnessed the Zacks Consensus Estimate for its current year earnings increasing 5.5% over the last 60 days. Axa Sa Price and ConsensusAxa Sa Price and Consensus Axa Sa price-consensus-chart | Axa Sa Quote AXA’s shares gained 11.9% over the last three months compared with the S&P 500’s advance of 8.9%. The company possesses a Momentum Score of A. Axa Sa PriceAxa Sa Price Axa Sa price | Axa Sa Quote Frontdoor, Inc. FTDR: This home and new home structural warranties company has a Zacks Rank #1 and witnessed the Zacks Consensus Estimate for its current year earnings increasing nearly 15% over the last 60 days. Frontdoor Inc. Price and ConsensusFrontdoor Inc. Price and Consensus Frontdoor Inc. price-consensus-chart | Frontdoor Inc. Quote Frontdoor’s shares gained 48.6% over the last three months compared with the S&P 500’s advance of 8.9%. The company possesses a Momentum Score of B. Frontdoor Inc. PriceFrontdoor Inc. Price Frontdoor Inc. price | Frontdoor Inc. Quote See the full list of top ranked stocks here Learn more about the Momentum score and how it is calculated here. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Axa Sa (AXAHY) : Free Stock Analysis Report New Gold Inc. (NGD) : Free Stock Analysis Report Frontdoor Inc. (FTDR) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research View Comments |
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| 01.07.25 13:40:04 | Are Finance Stocks Lagging Alexander's (ALX) This Year? | |
| Investors interested in Finance stocks should always be looking to find the best-performing companies in the group. Has Alexander's (ALX) been one of those stocks this year? A quick glance at the company's year-to-date performance in comparison to the rest of the Finance sector should help us answer this question. Invest in Gold Thor Metals Group: Best Overall Gold IRA Learn More American Hartford Gold: #1 Precious Metals Dealer in the Nation Learn More Priority Gold: Up to $15k in Free Silver + Zero Account Fees on Qualifying Purchase Learn More Powered by Money.com - Yahoo may earn commission from the links above. Alexander's is one of 871 companies in the Finance group. The Finance group currently sits at #6 within the Zacks Sector Rank. The Zacks Sector Rank gauges the strength of our 16 individual sector groups by measuring the average Zacks Rank of the individual stocks within the groups. The Zacks Rank emphasizes earnings estimates and estimate revisions to find stocks with improving earnings outlooks. This system has a long record of success, and these stocks tend to be on track to beat the market over the next one to three months. Alexander's is currently sporting a Zacks Rank of #2 (Buy). Over the past 90 days, the Zacks Consensus Estimate for ALX's full-year earnings has moved 10.3% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend. Based on the most recent data, ALX has returned 12.6% so far this year. Meanwhile, stocks in the Finance group have gained about 8.4% on average. This shows that Alexander's is outperforming its peers so far this year. Another stock in the Finance sector, Axa Sa (AXAHY), has outperformed the sector so far this year. The stock's year-to-date return is 38.1%. Over the past three months, Axa Sa's consensus EPS estimate for the current year has increased 8.5%. The stock currently has a Zacks Rank #1 (Strong Buy). Looking more specifically, Alexander's belongs to the REIT and Equity Trust - Other industry, a group that includes 99 individual stocks and currently sits at #96 in the Zacks Industry Rank. Stocks in this group have gained about 3.4% so far this year, so ALX is performing better this group in terms of year-to-date returns. In contrast, Axa Sa falls under the Insurance - Multi line industry. Currently, this industry has 43 stocks and is ranked #95. Since the beginning of the year, the industry has moved +7.3%. Alexander's and Axa Sa could continue their solid performance, so investors interested in Finance stocks should continue to pay close attention to these stocks. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Alexander's, Inc. (ALX) : Free Stock Analysis Report Axa Sa (AXAHY) : Free Stock Analysis Report Story Continues This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research View Comments |
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| 06.06.25 13:40:10 | Is Axa (AXAHY) Stock Outpacing Its Finance Peers This Year? | |
| Investors interested in Finance stocks should always be looking to find the best-performing companies in the group. Axa Sa (AXAHY) is a stock that can certainly grab the attention of many investors, but do its recent returns compare favorably to the sector as a whole? A quick glance at the company's year-to-date performance in comparison to the rest of the Finance sector should help us answer this question. Advertisement: High Yield Savings Offers Earn 4.10% APY** on balances of $5,000 or more View Offer Earn up to 4.00% APY with Savings Pods View Offer Earn up to 3.80% APY¹ & up to $300 Cash Bonus with Direct Deposit View Offer Powered by Money.com - Yahoo may earn commission from the links above. Axa Sa is one of 857 individual stocks in the Finance sector. Collectively, these companies sit at #6 in the Zacks Sector Rank. The Zacks Sector Rank gauges the strength of our 16 individual sector groups by measuring the average Zacks Rank of the individual stocks within the groups. The Zacks Rank is a successful stock-picking model that emphasizes earnings estimates and estimate revisions. The system highlights a number of different stocks that could be poised to outperform the broader market over the next one to three months. Axa Sa is currently sporting a Zacks Rank of #1 (Strong Buy). Over the past three months, the Zacks Consensus Estimate for AXAHY's full-year earnings has moved 4% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger. According to our latest data, AXAHY has moved about 36.7% on a year-to-date basis. At the same time, Finance stocks have gained an average of 5.8%. This means that Axa Sa is performing better than its sector in terms of year-to-date returns. Another stock in the Finance sector, Bridgewater (BWB), has outperformed the sector so far this year. The stock's year-to-date return is 7.7%. Over the past three months, Bridgewater's consensus EPS estimate for the current year has increased 11.8%. The stock currently has a Zacks Rank #2 (Buy). Breaking things down more, Axa Sa is a member of the Insurance - Multi line industry, which includes 41 individual companies and currently sits at #81 in the Zacks Industry Rank. On average, stocks in this group have gained 3.9% this year, meaning that AXAHY is performing better in terms of year-to-date returns. Bridgewater, however, belongs to the Banks - Northeast industry. Currently, this 73-stock industry is ranked #72. The industry has moved -8.1% so far this year. Axa Sa and Bridgewater could continue their solid performance, so investors interested in Finance stocks should continue to pay close attention to these stocks. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Axa Sa (AXAHY) : Free Stock Analysis Report Story Continues Bridgewater Bancshares, Inc. (BWB) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research View Comments |
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| 03.06.25 09:42:11 | McGill and Partners enters digital-first partnership with AXA XL | |
| UK-based reinsurer McGill and Partners has formed a digital-first partnership with AXA XL’s UK & Lloyd’s Business. The collaboration focuses on “driving innovation and enhancing efficiency” in risk placement, according to a statement from McGill and Partners. The initiative aligns AXA XL’s risk appetite across multiple business lines with McGill and Partners’ client portfolio. By leveraging digital tools to identify in-scope risks, the partnership will streamline the placement and underwriting process, enabling faster quoting for clients. McGill and Partners noted that AXA XL’s underwriters will gain valuable insights into risk selection and exposure management through a customised dashboard, ensuring greater visibility while upholding underwriting standards. McGill and Partners CEO Steve McGill said: “We are thrilled to launch this partnership with AXA XL’s UK & Lloyd’s Business, who share our ambitions for a more efficient, innovative and digitally enabled insurance market. “Our firm has been built on digital first principles, with a deep belief in the power of innovation to transform and improve outcomes for our clients. This partnership is another significant step which will enhance our clients’ experience.” The partnership aims to simplify the risk placement process by automating and aligning risk appetite, improving both the speed and ease of placement for clients. Built on McGill and Partners’ proprietary Underscore broking platform, the initiative has the potential to be extended to other partners in the future. AXA XL, UK & Lloyd’s CEO Sean McGovern stated: “This collaboration is a significant step in our market connectivity and digital underwriting journey. It allows us to harness the power of structured data and digital connectivity to deploy capacity efficiently on a risk-by-risk basis. “This partnership not only enhances our trading relationship with McGill and Partners but also strengthens our position to deliver exceptional value to clients in a competitive landscape.” In February, McGill and Partners introduced an AI agent integrated into the Underscore platform, powered by Salesforce’s AI system, Agentforce. "McGill and Partners enters digital-first partnership with AXA XL " was originally created and published by Life Insurance International, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. View Comments |
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| 02.06.25 04:00:00 | ECB Set for Last Easy Rate Cut as Trade Fuels Inflation Discord | |
| (Bloomberg) -- Most Read from Bloomberg Billionaire Steve Cohen Wants NY to Expand Taxpayer-Backed Ferry Where the Wild Children’s Museums Are Now With Colorful Blocks, Tirana’s Pyramid Represents a Changing Albania The Economic Benefits of Paying Workers to Move NYC Congestion Toll Brings In $216 Million in First Four Months The European Central Bank is about to lower interest rates for the final time before an increasingly complicated inflation outlook risks bringing internal divisions to the fore. As price risks recede, officials have cut seven times in the last year with little friction on the 26-strong Governing Council. An eighth move is expected Thursday, bringing the deposit rate to 2%. But while some would like that to be the bottom — wary of a glut of spending to come by European governments — others want more to underpin flimsy economic growth. The key sticking point is Donald Trump’s tariffs — specifically, their knock-on effects for euro-zone prices. The ECB is mapping out various scenarios to try to better grasp what’s coming but confidence in any given outcome is in short supply. One policymaker puts the chances of the baseline materializing at less than 50%. The upshot is that the ECB is shifting away from tackling elevated inflation to a phase characterized by the kind of unpredictability seen during Covid and Russia’s war in Ukraine. That means it must be attuned to the risk of price gains coming in either side of 2%, according to Katharine Neiss, chief European economist at PGIM Fixed Income. “It’s very possible that the macro picture warrants near-term cuts to support the economy through this period of uncertainty, but that higher rates are needed further out assuming other policy levers such as fiscal come into play,” she said. “That said, it will be important for the ECB to remain alive to the risk of returning to too-low inflation, as was the case in the decade before 2020.” With price growth nearing the 2% goal, investors still reckon there’ll be one more decrease in rates after this week, but aren’t sure when. Analysts in a Bloomberg poll are more certain — predicting moves in June and September for a terminal rate of 1.75%. Trump’s actions on trade could yet upend those views. While most European Union goods are currently subject to a 10% US levy, that could jump to 50% in July. The ECB’s scenario analysis, due as part of its quarterly outlook, underscores the uncertainty. As things stand, the near-term inflation picture looks benign: Energy costs have cratered and the euro has strengthened since the US first unveiled “reciprocal tariffs” in April. Eurostat figures for May will arrive Tuesday, likely showing an on-target reading of 2%. Story Continues But how prices evolve will hinge on possible retaliation from Brussels and how the US-China relationship pans out. In the longer term, European spending on defense and infrastructure, fractured supply chains and an aging workforce could feed inflation pressure. Against this backdrop, hawkish Executive Board member Isabel Schnabel has cautioned against more easing, arguing that the ECB is “in a good place to evaluate the likely future evolution of the economy” and act as needed. Dutch central-bank chief Klaas Knot and Bundesbank President Joachim Nagel have also warned that the medium-term inflation outlook is murky. For Holger Schmieding, chief economist at Berenberg, the future will be dominated by upside threats to prices. “The main reasons are demographics and the structural labor shortage,” he said. “At the moment, much is overshadowed by Trump’s policies. But monetary policy is already working, and there’s no need to add significantly more stimulus now.” Some Governing Council members are open to more forceful action. Belgium’s Pierre Wunsch has said the ECB may need to support the economy “a little bit” to ensure inflation doesn’t fall below target. Lithuania’s Gediminas Simkus said there are increasing risks of an undershoot on prices. What Bloomberg Economics Says... “The ECB will almost certainly lower rates by 25 basis points again at its next meeting. The disinflationary impact of US tariffs, the latest data on wage growth and our forecasts all point to the euro area no longer really having an inflation problem. The Governing Council will also probably retain a dovish tone to keep open the door for further easing later in the year.” —David Powell, senior euro-area economist. Click here for full PREVIEW Should the outlook start to point in that direction, it’s not clear what the optimal strategy would be. While some may back more rate reductions to guard against price expectations falling too low, others would probably opt for Schnabel’s “steady-hand” approach. Investors may not get a lot more guidance from President Christine Lagarde on Thursday. Rather than hinting what may happen, the ECB has recently preferred to highlight the factors on which its decisions will be based. “There are massive uncertainties littering the road ahead and the ECB will take great care not to pre-commit itself during the next press conference,” said Sonja Marten, head of currency and monetary-policy research at DZ Bank. She sees two more cuts this year, with little reason to turn stimulative because growth should look rosier again in 2026. Some analysts expect more easing. AXA Group Chief Economist Gilles Moec said the continued headwinds from the US and the danger of Chinese goods being diverted to Europe point to softer inflation and rates dropping as low as 1.25% — even if policymakers will find it difficult to get there. “Every single cut from now on is going to be much tougher,” he said. “There’ll be growing resistance, so it’ll come down to the data to convince the Governing Council to go as far as I think they’ll have to end up going. It’ll make for complicated conversations after the summer.” --With assistance from Jana Randow. Most Read from Bloomberg Businessweek YouTube Is Swallowing TV Whole, and It’s Coming for the Sitcom Millions of Americans Are Obsessed With This Japanese Barbecue Sauce Mark Zuckerberg Loves MAGA Now. Will MAGA Ever Love Him Back? Will Small Business Owners Knock Down Trump’s Mighty Tariffs? Trump Considers Deporting Migrants to Rwanda After the UK Decides Not To ©2025 Bloomberg L.P. View Comments |
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| 29.05.25 19:56:08 | Obscure Tax Item in Trump’s Big Bill Stokes Wall Street Angst | |
| (Bloomberg) -- Buried deep in the more than 1,000-page tax-and-spending bill that President Donald Trump is muscling through Congress is an obscure tax measure that’s setting off alarms on Wall Street and beyond. Most Read from Bloomberg NYC Congestion Toll Brings In $216 Million in First Four Months Now With Colorful Blocks, Tirana’s Pyramid Represents a Changing Albania NY Wins Order Against US Funding Freeze in Congestion Fight The Economic Benefits of Paying Workers to Move NY Congestion Pricing Is Likely to Stay Until Year End During Court Case The item — introduced in legislation that passed the House last week as Section 899 and titled “Enforcement of Remedies Against Unfair Foreign Taxes” — calls for, among other things, increasing tax rates for individuals and companies from countries whose tax policies the US deems “discriminatory.” This includes raising tax rates on passive income, such as interest and dividends, earned by investors who are potentially sitting on trillions in American assets. Cloaked in technicalities, the implication of the “revenge” measure, as it’s quickly becoming known, is clear to analysts: If signed into law, it would further drive away foreign investors at a time when their once ironclad confidence in Treasury bonds and other US assets has already been shaken by Trump’s erratic trade policies and the nation’s deteriorating fiscal accounts. “We’re already dealing with a market where Treasuries, to foreign investors, probably aren’t the most attractive investment,” said Michael Brown, a strategist at Pepperstone Group, a brokerage firm founded in Melbourne whose clients are all outside the US. Brown said he got so many inquiries from concerned clients that he quickly cobbled together a report breaking down the measure. “If you’re now talking about massively unfavorable tax treatment, then it’s just another reason to stay away.” Among those potentially affected: institutional investors including sovereign wealth funds, pension funds and even government entities, as well as retail investors and businesses with US assets. The proposed tax is separate from Trump’s tariff-heavy trade agenda, which is now snarled in court, but the thrust is the same, and its aims align with some of the goals set forth by the economist Stephen Miran in a paper last November and those seeking a so-called Mar-a-Lago global restructuring accord. All seek to address perceived unfair treatment of the US by the rest of the world using targeted tools designed to put the country on a more even footing. But after years of foreign investors piling into US assets, experts fear the consequences of Section 899 may be far-reaching. Story Continues The provision amounts to “weaponization of US capital markets into law” that “challenges the open nature of US capital markets by explicitly using taxation on foreign holdings of US assets as leverage to further US economic goals,” George Saravelos, head of FX research at Deutsche Bank AG, wrote in a report on Thursday. “We see this legislation as creating the scope for the US administration to transform a trade war into a capital war if it so wishes, a development that is highly relevant in the context of today’s court decision constraining President Trump on trade policy.” Section 899 takes aim at countries including Canada, the UK, France and Australia that impose “digital services taxes” on large technology companies such as Meta Platforms Inc. The clause also targets countries using provisions in a multi-country deal for minimum corporate taxes. The measure would boost the federal income tax rate on passive US income earned by investors and institutions based in the targeted countries, first by five percentage points, then rising by another five points each year to a maximum of 20 points above the statutory rate. ‘Troubling’ for Bonds, Dollar Morgan Stanley’s strategists included the provision in frequently asked questions related to the tax-and-spending bill and concluded that Section 899 would weaken the dollar and European stocks with US exposure. Gilles Moec, the chief economist at AXA Group, said it could add to the pressure on long-term interest rates, which this month touched multi-year highs. Others see it dragging on the US currency. “It’s indeed sounds troubling,” said Rogier Quaedvlieg, senior US economist at ABN Amro Bank NV. “By limiting new foreign demand, that would of course put pressure on the dollar.’” The risks related to the section 899 provision are seen by some as even more pressing after the US court order on Wednesday that blocked many of Trump’s tariffs on imports. Tariffs are considered a key source of revenue to fund Trump’s tax cuts, a signature part of his “big, beautiful bill.” Without them, the question is where the administration will find the money to fund them. The intent of the measure appears similar in spirit to some proposals advocated in November by Miran while he was still working at hedge fund Hudson Bay Capital. Miran, now chairman of the White House Council of Economic Advisers, called for imposing “user fees” on foreign investors in US Treasuries as part of an aim to weaken the dollar and improve US manufacturers’ competitiveness to address global trade imbalances. “The clause is clearly endorsed by the administration and designed to give Trump a negotiation tool for pressuring countries to drop digital services taxes and global minimum corporate income taxes, which he sees as unfairly targeting US multinational companies,” wrote Economist Will Denyer and Tan Kai Xian at Gavekal Research. “The problem is that before Trump has a chance to use the new tool, its very existence may unsettle bond markets.” What Strategists Say “With tariff revenue more uncertain and less likely to offset tax cuts in the GOP budget bill, traders need to be prepared for tax changes on foreign holders, ultimately reducing demand for American financial assets.” — Michael Ball, Markets Live macro strategist For now, the market reaction to Section 899 appears muted, at best. Still, US assets as a whole have been underperformers this year as Trump’s policies put a dent in the narrative of the “America exceptionalism.” The S&P 500 is up about 0.4% this year, compared with a 20% gain in the German benchmark and a 18% rally in Hong Kong. The Bloomberg Dollar Index slumped about 7%. The US Treasuries returned 2%, trailing the 5% gain in the global government bonds in dollar terms, according to data compiled by Bloomberg. Under the Surface Section 899 is likely to remain in the final version of the reconciliation package, which is now being reviewed in Senate, because it has broad Republican support, according to Signum Global Advisors. While some are skeptical if the Section 899 would survive on concern it would dampen foreign investment into the US, Signum Global Advisors predicts it will likely remain in the final version of the reconciliation package, in part because it has broad Republican support. “We believe the president’s viewpoint is that there is such immense foreign appetite to invest in the US that it is not at risk of being thrown off course,” according to Charles Myers, a former Wall Street executive who runs advisory firm Signum, and Lew Lukens, a partner at the firm. To Pepperstone’s Brown, the reason markets haven’t reacted yet is because investors hadn’t fully grasped the significance of the clause. But they’re starting to now. “It’s only as the dust has settled that people are thinking that maybe there are some things lurking under the surface of the bill we should pay a little bit more attention to,” said Brown. “And I think this section 899, this is probably one of them.” --With assistance from Christopher Anstey, Michael Ball, Greg Ritchie, Alex Tanzi and Anya Andrianova. Most Read from Bloomberg Businessweek YouTube Is Swallowing TV Whole, and It’s Coming for the Sitcom Mark Zuckerberg Loves MAGA Now. Will MAGA Ever Love Him Back? Millions of Americans Are Obsessed With This Japanese Barbecue Sauce Inside the First Stargate AI Data Center How Coach Handbags Became a Gen Z Status Symbol ©2025 Bloomberg L.P. View Comments |
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| 21.05.25 13:40:10 | Are Finance Stocks Lagging Axa (AXAHY) This Year? | |
| The Finance group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Is Axa Sa (AXAHY) one of those stocks right now? A quick glance at the company's year-to-date performance in comparison to the rest of the Finance sector should help us answer this question. Axa Sa is a member of our Finance group, which includes 857 different companies and currently sits at #6 in the Zacks Sector Rank. The Zacks Sector Rank gauges the strength of our 16 individual sector groups by measuring the average Zacks Rank of the individual stocks within the groups. The Zacks Rank emphasizes earnings estimates and estimate revisions to find stocks with improving earnings outlooks. This system has a long record of success, and these stocks tend to be on track to beat the market over the next one to three months. Axa Sa is currently sporting a Zacks Rank of #1 (Strong Buy). Within the past quarter, the Zacks Consensus Estimate for AXAHY's full-year earnings has moved 5% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger. According to our latest data, AXAHY has moved about 32% on a year-to-date basis. In comparison, Finance companies have returned an average of 5.8%. This means that Axa Sa is performing better than its sector in terms of year-to-date returns. Another stock in the Finance sector, Bridgewater (BWB), has outperformed the sector so far this year. The stock's year-to-date return is 14.8%. For Bridgewater, the consensus EPS estimate for the current year has increased 11.8% over the past three months. The stock currently has a Zacks Rank #1 (Strong Buy). To break things down more, Axa Sa belongs to the Insurance - Multi line industry, a group that includes 41 individual companies and currently sits at #80 in the Zacks Industry Rank. Stocks in this group have gained about 5.7% so far this year, so AXAHY is performing better this group in terms of year-to-date returns. Bridgewater, however, belongs to the Banks - Northeast industry. Currently, this 73-stock industry is ranked #53. The industry has moved -4.1% so far this year. Investors interested in the Finance sector may want to keep a close eye on Axa Sa and Bridgewater as they attempt to continue their solid performance. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Axa Sa (AXAHY) : Free Stock Analysis Report Bridgewater Bancshares, Inc. (BWB) : Free Stock Analysis Report Story Continues This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research View Comments |
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| 05.05.25 13:40:11 | Is Axa (AXAHY) Stock Outpacing Its Finance Peers This Year? | |
| Investors interested in Finance stocks should always be looking to find the best-performing companies in the group. Axa Sa (AXAHY) is a stock that can certainly grab the attention of many investors, but do its recent returns compare favorably to the sector as a whole? Let's take a closer look at the stock's year-to-date performance to find out. Axa Sa is a member of the Finance sector. This group includes 858 individual stocks and currently holds a Zacks Sector Rank of #3. The Zacks Sector Rank considers 16 different groups, measuring the average Zacks Rank of the individual stocks within the sector to gauge the strength of each group. The Zacks Rank is a successful stock-picking model that emphasizes earnings estimates and estimate revisions. The system highlights a number of different stocks that could be poised to outperform the broader market over the next one to three months. Axa Sa is currently sporting a Zacks Rank of #2 (Buy). Over the past 90 days, the Zacks Consensus Estimate for AXAHY's full-year earnings has moved 2.1% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive. Based on the most recent data, AXAHY has returned 30% so far this year. At the same time, Finance stocks have gained an average of 3%. This means that Axa Sa is outperforming the sector as a whole this year. Another Finance stock, which has outperformed the sector so far this year, is Axis Capital (AXS). The stock has returned 12.7% year-to-date. For Axis Capital, the consensus EPS estimate for the current year has increased 1.1% over the past three months. The stock currently has a Zacks Rank #2 (Buy). Looking more specifically, Axa Sa belongs to the Insurance - Multi line industry, a group that includes 41 individual stocks and currently sits at #61 in the Zacks Industry Rank. On average, this group has gained an average of 2.2% so far this year, meaning that AXAHY is performing better in terms of year-to-date returns. Axis Capital, however, belongs to the Insurance - Property and Casualty industry. Currently, this 43-stock industry is ranked #41. The industry has moved +16.5% so far this year. Going forward, investors interested in Finance stocks should continue to pay close attention to Axa Sa and Axis Capital as they could maintain their solid performance. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Axa Sa (AXAHY) : Free Stock Analysis Report Axis Capital Holdings Limited (AXS) : Free Stock Analysis Report Story Continues This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research View Comments |
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