Japan Bonds Are a Tactical Buy for Pimco After Yields Hit Record
Pacific Investment Management Co. is interested in buying long-dated Japanese government bonds as a tactical trade following a surge in the 30-year yield to all-time highs.
The bonds are now looking 'really interesting,' said Andrew Balls, chief investment officer for global fixed income at the $2 trillion asset manager, in an interview with Bloomberg TV.
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Forbes
43 minutes ago
- Forbes
Fauré Le Page Doesn't Identify As A Luxury Brand—Why That Matters
The Ladies First Bag is the Parisian Chic House's new, all-leather piece. It's rare for a heritage fashion house to dismiss the luxury label outright—especially one with 300 years of history. Yet at the recent Manila launch of Fauré Le Page's Ladies First bag, Augustin de Buffévent, the brand's Artistic & Communications Director, was quick to reject the term. 'We have nothing to do with luxury,' he stated in a matter-of-fact tone. 'We are a Parisian chic house and I am not at ease with the concept of luxury. To me, it doesn't mean anything anymore.' That distinction matters. Across Asia, brands are being forced to rethink what luxury actually means. According to a report, 87% of consumers now favor timelessness over trends while 80–92% rank material quality and craftsmanship above brand prestige when defining luxury. Meanwhile, the industry faces a reckoning with another industry report estimating the loss of some 50 million luxury buyers last year as inflation eats into purchasing power. In that context, Fauré Le Page's position feels less rebellious than it does well-calculated. The Ladies First bag marks a quiet milestone for the house. It's their first all-leather line, made from full-grain Armure Leather inspired by 18th-century cuirasses. The silhouette is structured but feminine, blending heritage with ease. Barrel-shaped clasps and bullet-like zipper pulls are subtle nods to the brand's origin as a purveyor of firearms to French nobility—though de Buffévent is quick to clarify: 'It's not a weapon. It's a weapon of seduction.' There's no rush here. Unlike fast‑fashion cycles or trendier labels vying for virality, Fauré Le Page plays a long game. 'Long-lasting items take time. We don't follow the crazy rhythm of fashion,' says de Buffévent. With rigorous 'torture tests' built into production, each bag is crafted to last—preferably a decade or more. He beams, 'I'm proud when I see someone carrying the same bag after ten years. Even more when my daughters steal bags from my wife.' I'm proud when I see someone carrying the same bag after ten years. Even more when my daughters steal bags from my wife. This slow‑craft approach aligns with evolving consumer behavior. A recent study found that 87% of luxury buyers across China, Japan, and Southeast Asia now prioritize quality, craftsmanship, and long‑term value over mere brand prestige, underscoring the rising demand for meaningful, substance‑driven luxury. The timing couldn't be more relevant. Some of the industry's biggest players have faced criticism over quality despite hiking prices. In May of this year, a TikTok user went viral after claiming that the straps of her Goyard St. Louis PM tote melted during a warm spring day, leaving stains on her shirt and questions about the bag's durability. It wasn't even summer yet. Incidents like this are fueling conversations about whether today's 'luxury' still lives up to the name. Other labels haven't been spared either: Chanel's classic flap bags have drawn complaints over uneven stitching and delicate leather, while Prada's nylon pieces have been criticized for fraying seams and faulty zippers after minimal use—all despite repeated price hikes in the last few years. So, who is the Ladies First bag made for? Forget demographics. 'I hate the term 'fashion victim,'' de Buffévent says. 'Women should create their own style. This bag is the perfect accessory for that.' With its sturdy form, refined detailing, and rich symbolism, it's less about signaling wealth and more about wearing conviction. At the launch of Fauré Le Page's Ladies First bag in Manila. Nikki Huang (Rustan's Commercial Group Merchandising Consultant), Augustin de Buffevént (Fauré Le Page Artistic & Communications Director), Anton Huang (SSI Group President) and Stephanie Chong (Fauré Le Page Philippines General Manager) Rather than chasing the new, Fauré Le Page refines what's already timeless. 'We're not in the fashion business,' he reiterates. 'Quality is at the heart.' And for a growing number of buyers, that's where real luxury now lives. In a market bloated with disposable 'It' bags and seasonal logo drops, Fauré Le Page offers a slower and sturdy alternative: one that values craft over clout, style over spectacle. With Ladies First, they are launching a new silhouette while sending a message. For those who are done with flash and ready for substance, this may be the new standard of luxury.
The Hill
an hour ago
- The Hill
Trump clears path for Nippon Steel investment in US Steel, so long as it fits the government's terms
WASHINGTON (AP) — President Donald Trump on Friday signed an executive order paving the way for a Nippon Steel investment in U.S. Steel, so long as the Japanese company complies with a 'national security agreement' submitted by the federal government. Trump's order didn't detail the terms of the national security agreement. But U.S. Steel and Nippon Steel said in a joint statement that the agreement stipulates that approximately $11 billion in new investments will be made by 2028 and includes giving the U.S. government a 'golden share' — essentially veto power to ensure the country's national security interests are protected. 'We thank President Trump and his Administration for their bold leadership and strong support for our historic partnership,' the two companies said. 'This partnership will bring a massive investment that will support our communities and families for generations to come. We look forward to putting our commitments into action to make American steelmaking and manufacturing great again.' The companies have completed a U.S. Department of Justice review and received all necessary regulatory approvals, the statement said. 'The partnership is expected to be finalized promptly,' the statement said. The companies offered few details on how the golden share would work and what investments would be made. Trump said Thursday that he would as president have 'total control' of what U.S. Steel did as part of the investment. Trump said then that the deal would preserve '51% ownership by Americans.' The Japan-based steelmaker had been offering nearly $15 billion to purchase the Pittsburgh-based U.S. Steel in a merger that had been delayed on national security concerns starting during Joe Biden's presidency. Trump opposed the purchase while campaigning for the White House, yet he expressed optimism in working out an arrangement once in office. 'We have a golden share, which I control,' said Trump, although it was unclear what he meant by suggesting that the federal government would determine what U.S. Steel does as a company. Trump added that he was 'a little concerned' about what presidents other than him would do with their golden share, 'but that gives you total control.' Still, Nippon Steel has never said it was backing off its bid to buy and control U.S. Steel as a wholly owned subsidiary. The proposed merger had been under review by the Committee on Foreign Investment in the United States, or CFIUS, during the Trump and Biden administrations. The order signed Friday by Trump said the CFIUS review provided 'credible evidence' that Nippon Steel 'might take action that threatens to impair the national security of the United States,' but such risks might be 'adequately mitigated' by approving the proposed national security agreement. The order doesn't detail the perceived national security risk and only provides a timeline for the national security agreement. The White House declined to provide details on the terms of the agreement. The order said the draft agreement was submitted to U.S. Steel and Nippon Steel on Friday. The two companies must successfully execute the agreement as decided by the Treasury Department and other federal agencies that are part CFIUS by the closing date of the transaction. Trump reserves the authority to issue further actions regarding the investment as part of the order he signed on Friday. ___ Associated Press writer Marc Levy in Harrisburg, Pa., contributed to this report.
Yahoo
an hour ago
- Yahoo
Rocket Lab Successfully Launches Its 66th Electron Rocket
Rocket Lab USA Inc. RKLB recently completed its 66th successful Electron rocket launch. The latest launch mission encompassed the deployment of the QPS-SAR-11 satellite into the Earth's mission is part of the contract that Rocket Lab secured in February 2025, from Japan-based Earth imaging company iQPS, marking one of its largest Electron launch agreements to date. This deal involves eight dedicated Electron launches, with six missions scheduled for 2025, out of which four are already completed, and two in successful missions reflect RKLB's proven expertise in launch services and further strengthen its footprint in the space industry. In the modern era of space exploration, factors like rapid technological advancements, the growing demand for satellite deployment, increasing commercial space activities and rising investments in space infrastructure are fueling the growth of the space launch services must have prompted the Grand View Research firm to estimate that the global space launch services market will witness a compound annual growth rate of 15.6% during the 2024-2030 time robust market growth prospects are expected to benefit companies like Rocket Lab. With its advanced Electron rocket and expanding capabilities in small satellite launches, the company is well-positioned to leverage the booming demand for frequent and cost-effective launches. It is also making strides in reusable rocket technology, which significantly reduces costs and improves launch capture further market shares, Rocket Lab is currently developing the Neutron rocket, designed for larger payloads and constellation deployments. This new product should further bolster RKLB's position in the market and fetch solid revenues. Other companies that are expected to enjoy the perks of the expanding global space launch services market have been discussed Grumman Corporation NOC: It is one of the key players in the space industry, providing launch vehicles and propulsion systems through its space systems division. The company's innovations in rocket technology and satellite deployment make it a significant beneficiary of the growing demand for space launch has a long-term (three to five years) earnings growth rate of 3.3%. The Zacks Consensus Estimate for NOC's 2025 sales indicates year-over-year growth of 2.8%.The Boeing Company BA and Lockheed Martin Corporation's LMT joint venture, United Launch Alliance ('ULA'), has been the United States' premier launch services provider since its establishment in 2006. The JV has successfully launched more than 150 Atlas and Delta rockets since has a long-term earnings growth rate of 18.1%, while that for Lockheed is pegged at 10.5%. The Zacks Consensus Estimates for BA and LMT's 2025 sales indicates year-over-year growth of 25.6 and 4.7%, respectively. Shares of RKLB have gained 501.3% in the past year compared with the industry's 42.2% growth. Image Source: Zacks Investment Research RKLB currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks 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 The Boeing Company (BA) : Free Stock Analysis Report Lockheed Martin Corporation (LMT) : Free Stock Analysis Report Northrop Grumman Corporation (NOC) : Free Stock Analysis Report Rocket Lab Corporation (RKLB) : Free Stock Analysis Report This article originally published on Zacks Investment Research ( Zacks Investment Research
