The following are some of the news items mentioned in the last few days:

  • Shares in global car makers fell yesterday days after Trump announced that he would impose 25 percent tariffs on auto makers
  • Trump administration has reformulated the proposal where Kyiv would divert profits from energy exploration in to fund. The proceeds from this fund will flow to US
  • The congressional budget office said yesterday the US debt to GDP ration would reach 107 percent during 2029 fiscal year - exceeding the 1940s era peak- and continuing to rise to 156 percent by 2055
    • The White house believes revenues from sweeping tariffs could plug the gap left by lower revenue from income and corporate taxes
  • Turkey is targeting BBC journalists. It has asked one of the journalists to leave the country for covering protests
  • Japan exported about 40b usd worth cars to US in 2024
  • ​On Friday, March 28, 2025, CoreWeave, a cloud computing company backed by Nvidia, completed its initial public offering (IPO) on the Nasdaq under the ticker symbol “CRWV.” The company raised $1.5 billion by selling 37.5 million shares at $40 each, which was below the initially expected range of $47 to $55 per share.
  • Jeffries misses forecasts in sign dealmaking remains subdued
  • Asset managers are rushing to set up ETFs focused on Europe’s defense sector
  • European market is trying to look at active ETFs to stem the outflows from regular mutual funds
    • US groups now have 5.3T AUM across Europe, more thatn double the amount they managed years ago
    • Jupiter suffers 10b pounds of outflows last year
    • Axa is one of the largest asset manager in US with 900b Euros in AUM
    • Global active ETF industry AUM is 1T USD as of 2025 Mar
    • European active ETF is set to grow to 1T by 2030
    • Global ETF AUM is about 15.T USD
    • Average global equity passive fee is 0.34 percent whereas average mutual fund charge about 1.14 percent
    • 14.2 percent of active equity fund maangers outperformed passive strategies over the decade
    • ​As of February 2025, actively managed exchange-traded funds (ETFs) globally reached a record high of $1.26 trillion in assets under management (AUM)
  • Trump’s auto tariffs will help Chinese EVs to race ahead
  • BYD last week announced a superfast EV charging system that can add about 470km of range in 5 min
    • It also announced a free advanced self-driving system called God’s Eye that is plans to install across its range
    • BYD’s progress shows the focal point of EV innovation is now in China
  • Jefferies is an oddity among financial firms. Its fiscal year starts on Dec1, so its quarterly earnings appear a month before rivals. About 9 dollars of every 10 dollars in Jefferies revenue coomes from investment banking and trading. JP Morgan the share is more like 2 dollars