🚨 Artificial intelligence may run on code, but the financing runs on covenants.
Wall Street closed at record highs Tuesday, with the S&P 500 up 1.8 percent, the Dow up 1.7 percent, and the Nasdaq surging 2.6 percent. Asia largely followed, led by a 3.3 percent move in Japan. The rally says investors believe earnings, lower oil prices, and AI demand can outweigh higher long term borrowing costs.
🏗️ The private capital market is sending a more complicated message.
Prologis agreed to acquire SEGRO for approximately 18.8 billion dollars, creating a platform with roughly 269 billion dollars of assets under management and dramatically expanding its European land, logistics…
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