00:00After a restful weekend, Alexis Gustavus, it's a podcast numerous times per day.
00:06Stock movers, she does it best.
00:08You're poking the bear here, Tom, I got to tell you.
00:10You and I were both here this weekend.
00:12So we've got shares of Alibaba, ticker symbol B-A-B-A, down 1.5% here in the pre
00:19-market.
00:19So Alibaba raised the equivalent of $10 billion in Hong Kong's biggest ever secondary share sale.
00:26And this is to help fund, guess what?
00:28But it's investment in AI and data centers and large language models.
00:33So the share placement is expected to dilute earnings and hurt stock performance in the near term.
00:39According to analysts, that's maybe why the stock is under pressure.
00:41Meantime, the fundraising is going to help drive AI-led growth.
00:45And the impact on earnings will be limited if the company, analysts say, can improve their AI payoffs and can
00:52prove that all of that investment is worth it in the end.
00:54All right.
00:55We know that equity markets are open.
00:56So are the bond markets as well.
00:57Exactly.
00:58Big tech players.
00:59Okay.
00:59What else you got?
01:00All right.
01:00Let's move to Japan.
01:02SoftBank trading in Japan down more than 5% right now.
01:06It plans $6.3 billion retail bond sale.
01:10That is the biggest by any issuer in Japan.
01:14SoftBank is looking to raise funds for its investment commitments to, oh, again, I see a trend, open AI.
01:20The seven-year bonds expected to be priced on September 4th.
01:23They're going to have an indicative coupon range here of 4.3% to 4.9%.
01:28I'm glad you bring this up.
01:30Should we think that at the end of the summer there should be a couple bond transactions this week?
01:36Why not?
01:37I'm surprised.
01:38Maybe.
01:38And I think coming back from Labor Day, which is late this year, by the way.
01:42It is.
01:43I just noticed that.
01:44Yeah, the kids on Labor Day.
01:44September 7th is Labor Day.
01:46Of course.
01:47We're off.
01:47We're off.
01:48Yeah, absolutely.
01:49But I think we're going to get a bunch of equity filings as well, which could be very cool.
01:52Anthropics is the one I'm waiting for.
01:54It's going to be a busy fall, guys.
01:55I think it is.
01:55You better get some rest here.
01:56But let's remember Alphabet, Meta, Microsoft, Amazon, they all, I mean, they're the four largest players in the data center
02:02race,
02:03and they're all out there with their raising money with the bond sales.
02:06So SoftBank along for the ride.
02:07And then we've been talking about Bitcoin a lot lately, and for good reason.
02:11It has been rallying.
02:13It is now at $79,275, so up 2.5%, which I have to tell you, earlier today it was
02:19below $77,000.
02:21So Coinbase, Robinhood, BitGo, they sort of are ebbing and flowing along with the price of Bitcoin.
02:28Shares of companies sort of tied to crypto are slipping today a little bit.
02:34But again, we're seeing Bitcoin come back.
02:36Also, by the way, inflows into Bitcoin ETFs hit their highest level all year long last week.
02:41So money continuing to flow in.
02:43And also just want to mention, according to the CEO of Coinbase, Brian Armstrong, he said stable coins could give
02:50people in countries battling high inflation and volatile currencies an easier way to access stronger global currencies without leaving their
02:58home countries.
02:59He's saying this could also help stable coins.
03:01Interesting.
03:02That makes sense.
03:03I saw this story this morning on the terminal.
03:05Got to get it out there.
03:06Speaking of stable coins, you know, the Trump family has their own stable coin, USD1.
03:11Well, it looks like they have won preliminary approval to start a national bank.
03:15So the Trump family may have its own national bank.
03:19They are riding a wave of deregulation under the Trump administration.
03:22So it would be called World Liberty Financial if it happens.
03:25And it plans to expand the use of its dollar backed stable coin.
03:30So there you go.
03:31I still don't understand stable coins.
03:33I've tried.
03:34I flunked the exam three times.
03:37It's a lot to take in in a space that's continuing to grow and regulations.
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