Archives April 2025

CK Hutchison, the Hong Kong-based parent of Panama Ports Company (PPC), denied on Wednesday allegations that it owes $1.2 billion to Panama—disputes that surfaced as US-China tensions intensify over canal infrastructure and regional influence.

Panama’s comptroller general announced this week that an audit of Panama Ports Company (PPC), a subsidiary of Hong Kong conglomerate CK Hutchison, uncovered irregularities in the renewal of a 25-year concession agreement. 

The allegations are “absolutely contrary to reality,” PPC said in a statement.

“At no time has PPC failed to comply with the payments corresponding to the rates applicable to port operators in Panama for the movement of containers,” the company said in a statement.

The dispute surfaced on the same day US Defense Secretary Pete Hegseth arrived in Panama for a regional security summit.

Hegseth met with Panamanian President José Raúl Mulino and later attended a ribbon cutting ceremony for a new US-financed dock at the Vasco Nuñez de Balboa Naval Base. At the podium, Hegseth declared that the US “will take back the Panama Canal from China’s influence.”

The dispute comes amid mounting geopolitical friction in the region. China is Panama’s largest trading partner and a dominant force in Latin American infrastructure, largely due to its demand for raw materials and commodities (i.e., soybeans). Roughly 20% of all cargo passing through the canal is either bound for or originates from China, making it the second-largest user after the US.

Beijing swiftly condemned CK Hutchison’s recent decision to sell its Panama port operations to a consortium led by US-based asset manager BlackRock.

The $19 billion deal, expected to generate substantial proceeds for the company founded by Hong Kong billionaire Li Ka-shing, was publicly celebrated by US President Donald Trump as a move to “take back” control of the strategic waterway.

Since taking office in January, Trump has repeatedly claimed that the US needs control of the Panama Canal and Greenland “for national security.”

While Panama has formally withdrawn from China’s Belt and Road Initiative (BRI), trade between China and Latin America remains strong.

Brazil, now China’s largest regional trading partner, is not a BRI signatory highlighting Beijing’s economic footprint in the region is likely to remain resilient.

Currently, the Trump administration has a 104% tariff on imports from China. Beijing clapped back with additional tariffs on US goods, with President Xi Jinping stating Wednesday that China will build a “shared future with neighboring countries.”

Later that day, Trump announced a 90-day pause on the new tariffs for certain countries but raised existing tariffs imposed on imports from China to 125%, “effective immediately.”

Updated on April 7th, 2025 by Nathan Parsh

It is not hard to see why Business Development Companies—or BDCs—are popular investments among income investors. Considering that the S&P 500 Index currently has an average dividend yield of just 1.5%, these high-yield stocks are very appealing by comparison.

BDCs typically offer very high dividend yields. Gladstone Investment Corporation (GAIN) is a BDC with a current dividend yield of 7.8%, with occasional supplemental dividend payouts pushing the yield even higher.

GAIN is one of 76 monthly dividend stocks and one of a select few that pays its dividend each month rather than each quarter.

We have compiled a full list of all monthly dividend stocks. You can download our full Excel spreadsheet of all monthly dividend stocks (along with metrics that matter like dividend yield and payout ratio) by clicking on the link below:

 

GAIN stock combines a high yield with monthly payouts, which on the surface is very attractive for income investors. But of course, investors should assess the quality of GAIN’s business, its future growth potential, and the sustainability of the dividend before buying shares.

This article will discuss GAIN’s business model and whether the high dividend yield is too good to be true.

Business Overview

GAIN is a Business Development Company that invests in small and medium privately held companies at an early stage of development. These companies usually have annual EBITDA in the range of $4 million to $15 million.

A rundown of GAIN’s investment process can be seen in the image below:

Source: Investor Presentation

The trust’s debt investments primarily consist of senior term loans, senior subordinated loans, and junior subordinated loans.

On the equity side, investments primarily consist of preferred or common stock or options to acquire stock. Equity investments are usually made in anticipation of a buyout or some form of recapitalization. They are made in the lower-middle market segment, meaning medium-sized companies. GAIN intends to split its portfolio between debt and equity investments by 75%- 25%.

GAIN makes money in two ways. First, when its investments are successful, it will realize capital gains. In addition, it receives interest and dividend income from securities held.

The company aims to invest in businesses that provide stable earnings and cash flow, which GAIN can use to pay operating expenses, meet its debt obligations, and distribute to shareholders with residual cash flow. Gladstone Investment released its Q3 2024 earnings on February 13th, 2025, reporting a total investment income of $21.4 million, a 7.4% drop from the previous year and 5.3% less than Q3 2024.

The company’s adjusted net investment income per share of $0.23 fell from $0.26 year over year and was down slightly from $0.24 on a sequential basis. However, its net asset value per share of $13.30 was up from $13.01 in the prior year and up $12.49 quarter over quarter. Gladstone’s net investment income per share is expected to see a modest decline this year compared to 2023.

Growth Prospects

GAIN’s investment strategy has been successful over the past several years. Over the last five years, its profits have grown at a mid-single-digit CAGR, which is not bad at all for such a high-yielding investment.

Gladstone Investment makes its money via spreads between the interest rates the company pays on cash that it borrows, and the interest rates the company receives on cash that it lends – the same principle as with banks. Despite declining interest rates in the last couple years, Gladstone Investment’s weighted average investment interest yield has held up very well; the company generated a yield of around 14% in the most recent quarter.

Higher loan losses caused by worsening economic conditions will cause a short-term headwind, but we do not see this impacting profitability in the long run.

In addition, the bulk of GAIN’s debt portfolio is variable rate, with a floor or minimum. This will help protect interest income in a high-rate environment. Given the company’s history of proven results, continued growth going forward will rely on the successful implementation of the investment strategy, which appears likely.

We expect 3% annual NII-per-share growth over the next five years, which we believe is a reasonable estimate of future growth given all of the above factors. GAIN shareholders benefit from the company’s strong investment performance, although whether this performance would hold up in a severe recession is a different question.

Competitive Advantages & Recession Performance

GAIN also has a durable competitive advantage due to its unique expertise in the lower middle market private debt and equity segment. Lower middle market companies are broadly defined as those with annual revenue between $5 million and $50 million.

This segment is generally too small for commercial banks to lend to, but too large for the small business representatives of retail banks to lend to. GAIN fills this gap. By putting money to work in this unloved group of private companies, GAIN can realize outsized returns compared to its larger commercial bank counterparts.

Listed below is GAIN’s net-investment-income-per-share and distribution per share both before, during and after the last recession:

• Net-investment-income-per-share 2007 – $0.67
• Net-investment-income-per-share 2008 – $0.79 (18% increase)
• Net-investment-income-per-share 2009 – $0.62 (22% decrease)
• Net-investment-income-per-share 2010 – $0.48 (23% decrease)

The company’s historical distributable net income during the Great Recession is shown below:

• Distributable-net-investment-income 2007 – $0.85
• Distributable-net-investment-income 2008 – $0.93 (9% increase)
• Distributable-net-investment-income 2009 – $0.96 (3% increase)
• Distributable-net-investment-income 2010 – $0.48 (50% decrease)

GAIN saw severe net investment income per share declines during the last recession, though the company returned to growth by 2011. Since then, results for this metric have varied from year to year.

In 2020, as the coronavirus pandemic sent the U.S. economy into recession, GAIN’s NII-per-share declined 23%, but the company could maintain its monthly dividend payments. The company then increased its dividend by 6.7% in October 2022.

Dividend Analysis

BDCs like GAIN can pay high dividends because of their favorable tax structure. GAIN qualifies as a regulated investment company. As such, it is generally not subject to income taxes, so long as it distributes taxable income to shareholders.

GAIN is an attractive stock for dividend investors. It currently pays a monthly dividend of $0.08 per share. On an annualized basis, the $0.96 per-share dividend represents a 7.8% current dividend yield.

The company has a long history of generating consistent dividend payments to shareholders.

Source: Investor Presentation

Not only that, but GAIN also provides supplemental dividends from undistributed capital gains and investment income. For example, on September 17th, 2024, the company declared a supplemental dividend payout of $0.70 per share. This is, of course, in addition to the regular monthly dividends paid.

GAIN has a pretty conservative capital structure, which helps secure the dividend. Gladstone Investment’s dividend payout ratio, relative to its net investment income, has been close to or above 100% for several years over the last decade.

The company is usually more profitable than the net investment income metric suggests. Gladstone Investment can also generate gains from its equity investments, which are not reflected in the net investment income metric.

Final Thoughts

GAIN’s strongest competitive advantage is its investment strategy, which is to make long-term investments in high-quality businesses, with strong management teams. This has produced strong results for GAIN since inception.

Plus, shareholders can expect GAIN to make supplemental dividend payments when its investment strategy performs well. Therefore, GAIN is a high dividend stock that has appeal for investors primarily concerned with income.

Don’t miss the resources below for more monthly dividend stock investing research.

And see the resources below for more compelling investment ideas for dividend growth stocks and/or high-yield investment securities.

Amazon (AMZN) is likely to face pressure on its profit margins as it feels the effect of the President Donald Trump’s tariffs, but the online retail giant also has advantages, Bank of America analysts wrote Wednesday.

The analysts cut their price target to $225 from $257 to reflect headwinds to profit margins and sales volumes, but expects Amazon to record retail share gains as consumers seek lower prices. Trump on Wednesday said he would institute a 90-day pause for all the tariffs except those placed on Chinese products, which have been lifted to 125%.

The analysts said Amazon’s first-party products and third-party sellers could see lower sales volumes and smaller margins as tariffs increase their costs. Higher prices should help offset some of the cost burden, but could also lead to consumers shifting more of their spending to essentials and away from discretionary items.

Growing Essentials Business Could Benefit Amazon

“We would expect retail share gains for Amazon given a low-price 1P (first party) strategy, and robust 3P (third party) seller selection as consumers shop for lower prices,” the analysts wrote. “Amazon should also benefit from its rapidly growing essentials business and leverage in Cost to Serve.”

Amazon Web Services (AWS) shouldn’t face much impact from tariffs, the analysts wrote, but “a broader economic slowdown is a risk to IT spend.”

Other analysts have pointed out that retailers with a strong value perception like Walmart (WMT) and Costco (COST) could benefit from the uncertainty created by the tariffs.

Amazon shares were up in more than 9% in recent trading Wednesday, as markets rallied after Trump’s announcement.

The U.S. stock market is currently experiencing one of its worst crashes in history. And unfortunately, we’re not being dramatic.

Last Wednesday, so-called “Liberation Day” tariffs were officially announced; and the fallout was swift and brutal. On that Thursday and Friday, the S&P 500 fell more than 10% – something that has only happened five other times in the past 100 years:

• During 2020’s COVID Crash
• In the depths of the 2008 Financial Crisis
• On Black Monday in 1987
• When Germany invaded France in 1940 and began World War II
• During the Great Depression in the 1930s

What just happened was rare and meaningful. It was a moment where markets clearly said, “This trade war might actually change everything.”

But will it?

That’s the trillion-dollar question. And the honest answer is: no one knows for sure.

That’s because the wild card here isn’t just tariffs – it’s the unpredictability of the White House behind them.

One day, there’s talk of negotiations… The next, threats of 104% tariffs on China. 

For example, over the weekend, a viral post by hedge fund manager Bill Ackman that suggested a 90-day pause to calm markets gained traction. On Monday morning, stocks surged on a rumor that the White House liked that idea.

Then came the denial: “Fake news.” Tariffs are staying. 

More threats followed. The rally was erased, and stocks tanked again, sinking another 2% between Monday and Tuesday.

This administration is playing an erratic game. But our analysis suggests there are three distinct scenarios that could play out from here, each with very different implications for your money.

Let’s walk through them.

Scenario 1: Hardball Negotiation (50% Probability)

In this scenario, the tariffs are exactly what they appear to be: a negotiating tactic. Trump is trying to strong-arm America’s trading partners into better deals. Yes, it’s chaotic. But ultimately, it’s strategic.

You can see the signs of this approach:

• President Trump’s threat of an additional 50% tariff on China after their 34% retaliation
• Peter Navarro dismissing Vietnam’s offer to cut U.S. tariffs to 0% as “not enough”
• The White House insisting these tariffs are about “long-term fairness,” not short-term market impact

In this world, the tariffs are leverage, not ideology. And once new deals are struck, Trump will roll them back, markets will breathe a sigh of relief, and the global economy will resume its march forward.

What happens to stocks here? We’d expect more near-term volatility; possibly more selling over the next few days or weeks. Once deals are signed, a sharp, V-shaped recovery – and a full rebound into summer – is quite possible.

In this case, the playbook is:

• Stay defensive in the short term (cash, bonds)
• Watch for signs of real progress in negotiations
• When clarity arrives, rotate into growth, tech, and risk-on assets

We think this is the most likely path forward, which is why we’re assigning it a 50% probability.

Scenario 2: Tariffs As True Protectionism (30% Probability)

Now, in this scenario, Trump’s tariff policy is not just strategy. It’s ideology.

He doesn’t just like tariffs as a negotiating chip. He genuinely believes in them as a tool to reshape America’s economy, wherein tariffs bring jobs home, protect domestic industry, and realign global trade in the U.S.’ favor.

In this version of reality, the tariffs aren’t going anywhere. The White House might make a few token deals, but the big ones – the 54% on China, 46% on Vietnam, 20% on the EU – stick around.

This is the 1970s redux… Or worse, the 1930s. Global trade slows. Supply chains freeze. Inflation spikes. Corporate earnings shrink. The Fed can’t easily help without stoking more inflation.

This scenario results in a grinding, multi-year bear market.

What works here?

• Hard assets: Energy, gold, metals
• Domestic infrastructure: Think reshoring, factories, defense
• Dividend stocks: Not sexy but stable

What doesn’t?

• Multinational growth stocks
• Global consumer brands
• Anything reliant on cheap trade and smooth global logistics

This is a stagflation scenario, with slow growth, high inflation, and no easy way out.

We don’t think it’s the most likely path forward, but it’s definitely on the table. We assign this one a 30% probability.

Apple (AAPL) stock rebounded from its worst 4-day stretch since 2000 on Wednesday as investors bought the dip in big tech stocks.

Apple shares were up 5% in recent trading, leading a rebound for the Magnificent Seven stocks after days of being hammered by President Trump’s sweeping tariffs. 

Apple lost its title of the world’s most valuable company to Microsoft (MSFT) when shares fell 5% yesterday, putting the stock down nearly 25% since Trump’s “Liberation Day” tariff announcement last Wednesday. Wednesday’s rebound put the two companies neck-and-neck in terms of market value, with each hovering around $2.68 trillion. Read Investopedia’s live coverage of today’s trading here.

Apple’s reliance on China, where it assembles an estimated 90% of its products, is expected to be a headwind for the iPhone maker. The Trump administration has hit Chinese goods with tariffs totaling 104% this year, threatening to significantly increase Apple’s costs and potentially weigh on consumer demand. Apple won an exemption from the first Trump administration during its 2018 trade war with China, but no such reprieve has materialized this time around. 

The company is reportedly planning to send more iPhones to the U.S. via India, which as of Wednesday is subject to a 26% tariff rate. Apple, in an effort to diversify its supply chain, has been ramping up its manufacturing and assembly operations in India for years. 

Bank of America on Monday maintained its “buy” rating on Apple stock, citing its stable cash flows, “earnings resiliency,” and potential to benefit from AI. The firm’s $250 price target represents 45% upside from Tuesday’s close.

In a separate note on Tuesday, BofA analysts called Apple stock’s pullback “a particularly enhanced buying opportunity for investors to own a high-quality name.” 

Loan Type	New Purchase Rates	Daily Change
30-Year Fixed	6.93%	+0.08
FHA 30-Year Fixed	7.04%	No Change
VA 30-Year Fixed	6.54%	+0.18
20-Year Fixed	6.83%	+0.25
15-Year Fixed	6.07%	+0.14
FHA 15-Year Fixed	6.32%	No Change
10-Year Fixed	6.02%	-0.34
7/6 ARM	7.33%	+0.29
5/6 ARM	7.27%	+0.17
Jumbo 30-Year Fixed	6.88%	+0.12
Jumbo 15-Year Fixed	6.77%	+0.34
Jumbo 7/6 ARM	7.37%	-0.09
Jumbo 5/6 ARM	7.51%	-0.01
Provided via the Zillow Mortgage API

The Weekly Freddie Mac Average

Every Thursday, Freddie Mac, a government-sponsored buyer of mortgage loans, publishes a weekly average of 30-year mortgage rates. Last week’s reading inched down a single basis point to 6.64%. Last September, the average sank as far as 6.08%. But back in October 2023, Freddie Mac’s average saw a historic rise, surging to a 23-year peak of 7.79%.

Freddie Mac’s average differs from what we report for 30-year rates because Freddie Mac calculates a weekly average that blends five previous days of rates. In contrast, our Investopedia 30-year average is a daily reading, offering a more precise and timely indicator of rate movement. In addition, the criteria for included loans (e.g., amount of down payment, credit score, inclusion of discount points) varies between Freddie Mac’s methodology and our own.

Calculate monthly payments for different loan scenarios with our Mortgage Calculator.

What Causes Mortgage Rates to Rise or Fall?

Mortgage rates are determined by a complex interaction of macroeconomic and industry factors, such as:

• The level and direction of the bond market, especially 10-year Treasury yields
• The Federal Reserve’s current monetary policy, especially as it relates to bond buying and funding government-backed mortgages
• Competition between mortgage lenders and across loan types

Because any number of these can cause fluctuations simultaneously, it’s generally difficult to attribute the change to any one factor.

Macroeconomic factors kept the mortgage market relatively low for much of 2021. In particular, the Federal Reserve had been buying billions of dollars of bonds in response to the pandemic’s economic pressures. This bond-buying policy is a major influencer of mortgage rates.

But starting in November 2021, the Fed began tapering its bond purchases downward, making sizable reductions each month until reaching net zero in March 2022.

Between that time and July 2023, the Fed aggressively raised the federal funds rate to fight decades-high inflation. While the fed funds rate can influence mortgage rates, it doesn’t directly do so. In fact, the fed funds rate and mortgage rates can move in opposite directions.

But given the historic speed and magnitude of the Fed’s 2022 and 2023 rate increases—raising the benchmark rate 5.25 percentage points over 16 months—even the indirect influence of the fed funds rate has resulted in a dramatic upward impact on mortgage rates over the last two years.

The Fed maintained the federal funds rate at its peak level for almost 14 months, beginning in July 2023. But in September, the central bank announced a first rate cut of 0.50 percentage points, and then followed that with quarter-point reductions in November and December.

For its second meeting of 2025, however, the Fed opted to hold rates steady—and it’s possible the central bank may not make another rate cut for months. At their March 19 meeting, the Fed released its quarterly rate forecast, which showed that, at that time, the central bankers’ median expectation for the rest of the year was just two quarter-point rate cuts. With a total of eight rate-setting meetings scheduled per year, that means we could see multiple rate-hold announcements in 2025.

How We Track Mortgage Rates

The national and state averages cited above are provided as is via the Zillow Mortgage API, assuming a loan-to-value (LTV) ratio of 80% (i.e., a down payment of at least 20%) and an applicant credit score in the 680–739 range. The resulting rates represent what borrowers should expect when receiving quotes from lenders based on their qualifications, which may vary from advertised teaser rates. © Zillow, Inc., 2025. Use is subject to the Zillow Terms of Use.

Written by the Market Insights Team

The US has implemented its steepest tariffs on trade partners in over a century, with rates varying significantly across regions. The most striking development is the 104% tariff imposed on Chinese goods, signalling a major escalation in trade tensions. If these measures remain in place, they could effectively isolate the world’s two largest economies from one another. But this trade war is not just about tariffs; it reflects a broader geopolitical rivalry that could reshape global trade dynamics for years to come. Wild swings in markets continue as traders grapple with pricing the impact of a the conflict.

Tariffs kick in, confidence in US assets eroded

George Vessey – Lead FX & Macro Strategist

The ‘sell America’ narrative is gaining traction once more, with US equities and Treasuries facing renewed pressure. This creates a challenging environment for the dollar. US assets are being hit hard as the 104% China tariffs take effect, and without signs of de-escalation, the dollar is likely to weaken further.

Hopes for market stability were short-lived yesterday. The 4% rebound in the S&P 500 evaporated to end with a loss of 1.6% – its biggest U-turn since at least 1978. The tech-heavy Nasdaq suffered its biggest blowdown since at least 1982 – falling deeper into bear market territory. The VIX fear index closed above 50 for the first time in over four years and is now almost four standard deviations above the long-term average. This marks a level of volatility most recently seen in 2020 (pandemic) and 2008 (GFC). Oil prices have also sunk to fresh 4-year lows on global growth and demand concerns.

The selloff in longer-dated Treasuries also gained momentum, with the US 10-year yield climbing above 4.5% and the 30-year yield briefly surpassing 5%. Investors appear to be stepping away from what was once considered the world’s safest asset, driven by expectations of weakening foreign demand as tariffs take hold. If the current pace of these bond moves persists, it could prompt central banks, including the Federal Reserve, to reassess their positions, even amid lingering concerns about persistent inflation pressures.

What’s up with Mar-a-Lago?

Kevin Ford – FX & Macro Strategist

We’ve been cautious about weighing in on the Mar-a-Lago Accord, a proposed framework by Stephen Miran, current chair of the Council of Economic Advisers, aimed at restructuring the global trading system—a proposal that has sparked keen interest and speculation within financial circles.

While the plan remains questionable, somewhat incongruent, and lacking a solid foundation in today’s geopolitical realities, it no longer feels like a long shot. Some of its key propositions are already unfolding in the current market landscape. Additionally, the current administration appears to be welcoming the recent dollar weakness—a notable departure from Trump 45’s tenure, during which the dollar strengthened amidst the U.S.-China trade war.

The accord proposes devaluing the U.S. dollar to boost exports while maintaining its status as the world’s reserve currency. These objectives are inherently at odds, as a weaker dollar could undermine its global reserve status. While the accord suggests that tariffs would not significantly impact U.S. prices, historical evidence, including Miran’s own examples, indicates that tariffs often lead to higher prices for both imported and domestic goods. The plan oscillates between using tariffs as temporary pressure tactics and as a permanent revenue source, creating ambiguity about their true purpose.

Also, by shielding domestic industries with tariffs, the accord risks reducing the pressure on American companies to innovate and improve, potentially harming long-term competitiveness. Finally, the plan’s unilateral approach to currency adjustments and trade policies isn’t grounded in geopolitical feasibility, making it difficult to achieve the intended global economic reordering.

What we’re witnessing in the markets may align closely with the plan’s primary objectives for America. The administration’s push for a weaker dollar, lower interest rates, and reduced yields appears to be yielding results. However, this progress comes at the expense of credibility in U.S. policymaking, with potential unintended economic repercussions that could reverberate through the U.S. economy and stock markets, directly impacting Americans.

Turbulence to persist in FX

George Vessey – Lead FX & Macro Strategist

In FX, currency traders are positioning for turbulence to get even worse with hedging costs to protect against large swings surging. The dollar’s status as a post-pandemic safe haven is unravelling under the weight of President Trump’s tariffs, which risk triggering stagflation in the US economy. These measures are also undermining the narrative of US exceptionalism that has shaped the investment landscape for decades.

Meanwhile, China has set its currency at its weakest since 2007. the offshore yuan is a record lows. The safe haven Swiss franc remains the top haven of choice in the FX market. But Swiss officials will be eying this closely with rate cuts and FX intervention measures up their sleeve to rein in the currency. Antipodeans remain vulnerable – the Aussie and Kiwi dollars near multi-year lows.

While there were hints that President Trump might consider tariff deals, the path to negotiations remains fraught. Globally, investors are increasingly anxious about potential cracks in the financial system amid heightened volatility. This uncertainty has sparked speculation that the Fed may need to accelerate rate cuts to stabilize the situation.

Meanwhile, flying under the radar but still important to note – small US businesses foresee business conditions worsening ahead, a result of domestic and global policy choices. The NFIB’s small-business optimism index fell more than expected in March. A drop in business conditions and sales expectations was mostly behind the headline decline. Ultimately, uncertainty remains too high for small businesses to plan ahead.

Euro surges again

George Vessey – Lead FX & Macro Strategist

EUR/USD has shot back above $1.10 today and is now up 10% from March lows. Momentum looks to be in the euro’s favour and we wouldn’t be surprised to see $1.12 trade soon given the price action over the last few days. Options markets are sending mixed signals though, with one-week risk reversals still leaning euro-bullish, but moving sharply lower versus a week ago.

The euro’s high liquidity continues to shield it from the heightened volatility seen in high beta G10 peers. As the second most liquid global currency, the euro is enjoying a surge of increased flows as traders dump the dollar. It stands as a favored alternative for FX reserves. meanwhile, the lack of stresses showing up in USD funding markets may also be a sign that investors are much less eager to pile into dollars this time round.

While the European Union has expressed readiness to negotiate tariff-free options with the US, such discussions are likely to take time. In the meantime, the EU is proceeding with measured retaliation against US tariffs, including 25% duties on various US products. A vote on such measures is expected today.

Sterling caught in the crossfire

George Vessey – Lead FX & Macro Strategist

Amidst the broad-based dollar weakness, GBP/USD is back above $1.28, bouncing of its 50-day moving average this week. However, the euro’s strength has dragged GBP/EUR to fresh 6-month lows, with the pair fighting to stay afloat the €1.16 handle.

There may be scope for a more protracted recovery in the likes of GBP/USD as investors continue to shun US assets, though we’re unsure whether it has legs to, or if the pound is attractive enough in this environment to allow the $1.32 peak of this year to trade again any time soon. There are dislocations aplenty across financial markets, most strikingly between bonds and FX. The pain is most pronounced in the 30-year space, where gilt yields rose as much as 16 basis points to 5.51%, the highest since 1998. Two-year yields are dropping though, pushing the 2-, 30-year spread above 150 basis points for the first time since 2017.

Cutting through the noise, rate differentials suggests the current $1.28-$1.29 is fair value at present. Markets are pricing in more rate cuts by the Bank of England this year – but to pick up the pace of easing the BoE would likely need to see inflation moderate below its February forecasts.

As for sterling versus the euro, the pair has dropped for four days straight – with a cumulative decline of over 3% despite rate differentials pointing to €1.19 fair value. The pair is heavily oversold on the daily relative strength index, meaning it may be unwise to chase the trend much lower from here.

Mexican peso losing as Emerging Markets get hit

Table: 7-day currency trends and trading ranges

Key global risk events

Calendar: April 7-11

All times are in ET

Have a question? [email protected]

*The FX rates published are provided by Convera’s Market Insights team for research purposes only. The rates have a unique source and may not align to any live exchange rates quoted on other sites. They are not an indication of actual buy/sell rates, or a financial offer.

The brokerage industry has evolved rapidly over the past decade, driven by fintech innovation, increased demand for financial access, and growing interest in digital asset markets. In this climate, launching a trading platform from scratch can be prohibitively expensive and time-consuming, especially for new entrants.

White label trading platforms are a practical, cost-effective solution for brokers looking to enter or expand within the market. These platforms provide a ready-made infrastructure that can be fully branded and tailored to the needs of each business, accelerating time-to-market without compromising quality or performance.

Why white label platforms continue to gain momentum

Today’s traders expect high-speed execution, intuitive interfaces, access to multiple asset classes, and seamless mobile functionality. For brokers, delivering all of this independently is a tall order.

White label solutions fill this gap by offering brokers a complete toolkit: a core trading engine, client portals, risk controls, reporting dashboards, and more—all pre-built and tested. This enables brokerages to focus on branding, customer acquisition, and strategic growth instead of technical development.

Beyond speed and convenience, white label platforms allow brokers to scale more effectively. Many come with modular architectures, making it easier to upgrade features, add asset classes, or integrate third-party tools as the business grows.

Building on trusted technology

White label platforms are often developed by established technology providers with years of experience in trading systems, such as Interactive Brokers, B2BROKER, Leverate, and many others. The background brings a level of security, performance reliability, and regulatory alignment that would be difficult to replicate in-house.

In many cases, providers offer continuous updates, technical support, and integration assistance. These elements reduce operational risk and give brokers the confidence to pursue new markets without overextending internal teams.

Security, in particular, has become a top priority. The best platforms include advanced data protection mechanisms, encryption protocols, and compliance-ready features built directly into the architecture.

Tailoring the platform to your business

Customisation is a key advantage of modern white label solutions. Brokers can adjust everything from the platform interface and user experience to back-office workflows and trading conditions.

This degree of adaptability enables brokerages to stand out in crowded markets. Whether your focus is on institutional clients, retail traders, or specialized asset classes, a white label platform can be customized to align with your strategic objectives.

Certain platforms provide dynamic user interface customization, language localization, and access controls based on roles, enhancing the personalized experience for both clients and internal teams.

Navigating integration and scalability

A white label platform should fit seamlessly into your existing ecosystem. Integration with CRM tools, liquidity providers, KYC modules, and payment gateways is essential for smooth day-to-day operations.

Scalability is crucial as well. When trade volume rises or your client base expands, the platform must stay stable and responsive. Modern technologies such as cloud infrastructure and containerization allow platforms to scale dynamically, ensuring no downtime or performance issues loss.

Another key area of focus is multi-asset capabilities. Today, platforms that enable trading in Forex, cryptocurrencies, equities, commodities, and derivatives through a single interface help brokers reach a wider audience and provide a cohesive trading experience.

Regulatory considerations

Starting a brokerage demands adherence to various global and local regulations. A white label platform ought to assist with your regulatory requirements by offering integrated tools for identity verification, transaction monitoring, audit logging, and data protection.

Leading platforms also provide jurisdiction-specific settings and documentation templates to help brokers meet licensing requirements across multiple regions.

Collaborating with a technology provider known for its solid compliance record lowers legal and operational risks, facilitating international expansion.

The role of UX and mobile in broker success

User experience is now a defining factor in client retention. Platforms must be intuitive, responsive, and accessible across devices. Traders want to switch seamlessly between desktop, web, and mobile apps without losing features or functionality.

A mobile-first design strategy is now a requirement, not a choice. Features like real-time notifications, biometric login, and streamlined charting tools are essential; the mobile trading experience should uphold the same standards as desktop platforms.

Consistent branding across all user interfaces also contributes to trust and professionalism, which are especially important for newer brokers building their reputation.

Looking ahead: Future trends in white label platforms

Several trends are shaping the next generation of white label platforms. 

Cloud-native deployment is becoming the norm, allowing for more agile infrastructure, faster updates, and lower overhead. At the same time, artificial intelligence is being integrated to enhance everything from trade execution and analytics to customer service automation.

The integration of decentralised finance (DeFi) is increasing, especially among brokers of crypto assets. Many platforms now facilitate tokenised assets, on-chain settlements, and smart contract implementations, creating fresh avenues for innovation.

The features of social trading and copy trading are becoming increasingly popular, particularly with younger investors. White label solutions that promote influencer-led strategies and foster community involvement will be more appealing to today’s traders.

Final thoughts

Launching a trading platform doesn’t have to mean starting from zero. White label technology offers a fast, cost-effective, and scalable way to bring a brokerage to market, with full control over branding and client experience.

The secret is selecting a platform that fulfills your present requirements while also preparing you for future expansion. This encompasses technical dependability, regulatory compliance, and adaptability to shifting markets and client demands.

In an environment where technology and trust go hand in hand, choosing the right white label partner provides the essential groundwork required to create, expand, and maintain a thriving brokerage.

Disclaimer: This is a sponsored article. The views and opinions presented in this article do not necessarily reflect the views of CoinCheckup. The content of this article should not be considered as investment advice. Always do your own research before deciding to buy, sell or transfer any crypto assets.

Shares of Cal-Maine Foods (CALM) fell 5% in premarket trading Wednesday as a request for information from the U.S. Department of Justice on egg prices outweighed surging fiscal third-quarter sales and profits.

Cal-Maine said Tuesday that it received a “civil investigative demand” last month from the DOJ’s antitrust division, as the department is investigating allegations of price gouging in the egg industry. An outbreak of bird flu has led to a sharp decline in egg supply, which has sent prices surging in recent quarters. Cal-Maine, the largest egg producer in the country, said it is cooperating with the DOJ’s investigation.

Cal-Maine’s Sales Double, Profits Triple Year-Over-Year

Cal-Maine earned $10.38 per share on revenue of $1.42 billion in its fiscal third quarter, more than triple the $3 per share and double the $703.1 million it generated a year ago. The company’s average selling price of a dozen eggs was $4.06 in the quarter, nearly double the $2.25 mark from a year ago. It said that as of March 1, the U.S. Department of Agriculture estimated the total egg-laying flock in the country was 285 million, the lowest level since September 2015.

The company also said it had agreed to acquire Echo Lake Foods, which makes ready-to-eat egg products and breakfast foods, for roughly $258 million.

New commemorative circulation type in normal and coloured versions:

“150th anniversary of the Supreme Court of Canada”

TECHNICAL DATA
Composition: three-ply brass plated steel
Diameter: 26.50 mm
Weight: 6.27 g
Artist: Silvia Pecota



(image taken from www.mint.ca)

LINK: Royal Canadian Mint