Daily Brief Financials: KKR & Co, Judo Capital, NIFTY Index, Signature Bank, Yuexiu Property and more

• There are 3 changes for the S&P 500 INDEX, 7 changes for the S&P Midcap400 Index and 13 changes for the S&P SmallCap600 Index at the June rebalance.
• There is huge size to trade in KKR & Co (KKR US) and Crowdstrike Holdings (CRWD US) and both stocks were up big in the after-hours market.
• There has been positioning in some stocks recently but stocks including KKR & Co, RB Global and Texas Pacific Land could see further positioning in the next week.

• The ASX 20/50/100 index changes for the June 2024 index rebal event was announced after market close on Friday 7th June 2024.
• In this insight, we take a look at our flow expectations for the ADDs/DELs and the trends in short interest buildup for these names.
• Separately, the completion of the CSR Ltd (CSR AU) M&A deal could trigger an intra-review deletion in June 2024 and the potential replacement name could have very high-impact.

• IVs were crushed in the aftermath of Election results & in spite of lingering political instability & significant moves in RV.
• Vol-Regime Switching Model is holding at “High & Up” state. Probability of switching to “High & Down” state has increased significantly.
• Vol term structure is still in Backwardation – should transition to Contango as IV & RV drift lower.

• High potential for additional recoveries with longer liquidation period
• Solvent receivership of Signature Bank offers compelling investment opportunity
• Potential for substantial upside for common equity, preferred equity, and unsecured bonds

This content is sourced through publicly available sources and has been machine generated. Information displayed is for general informational purposes only. This article was originally published 3 months ago on Value Investors Club.

Lucror Analytics Morning Views comprise our fundamental credit analysis, opinions and trade recommendations on high yield issuers in the region, based on key company-specific developments in the past 24 hours. Our Morning Views include a section with a brief market commentary, key market indicators and a macroeconomic and corporate event calendar.

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