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Since 2026, leading institutions such as Blackstone, BlackRock, Morgan Stanley, and Oaktree Capital have seen their private credit products consecutively reach redemption limits, with the mismatch between sources and uses of funds becoming increasingly exposed. According to various industry experts, the pressure in the US private credit market in 2026 mainly comes from two aspects. The first is the disruption of software company business models by artificial intelligence (AI). The second is the rising proportion of PIK (payment-in-kind or deferred interest), which has become a hidden risk behind paper returns. Expand

The stock price of a certain exchange fell by 3.4%, while another exchange's stock price dropped slightly by 0.7%. Analysts downgraded the ratings and forecasts for several companies, including this exchange. Although the price reduction measures prompted existing customers to switch operators, they failed to attract new customers to the industry. Analysts described this situation as a "race to the bottom" with no winners.

Traders are preparing for a more prolonged conflict, which will intensify the already severe disruption in global energy supplies. "With the conflict expected to last at least until late April, the outlook for crude oil supply is becoming increasingly grim," said Ryan McKay, Senior Commodity Strategist at TD Securities in a client report. By the end of April, the world will lose nearly 1 billion barrels of oil, including 600 million barrels of crude oil and about 350 million barrels of refined products such as jet fuel, diesel, and gasoline. For each month the war drags on, it will cause an additional total supply loss of 450 million barrels. Expand