Good afternoon and welcome to Markets Desk.
Norway's sovereign wealth fund, the world's largest at roughly two point three four trillion dollars, posted a record one hundred eighty four billion dollar profit, disclosing a stake in SpaceX for the first time. The fund holds positions in more than seven thousand companies across sixty countries, underscoring just how deeply this single pool of capital is woven into global markets.
Turning to the bond market, Realty Income priced an upsized eight hundred seventy five million dollar convertible notes offering, bumped up from the originally announced seven hundred fifty million, carrying a coupon of three point seven five percent and maturing in twenty thirty one. The company paired the deal with a share buyback, signaling management sees the stock as undervalued even while tapping debt markets for fresh capital.
And in the energy complex, Iran's push to impose a toll system on Strait of Hormuz traffic has analysts skeptical. The theoretical haul approaches twenty billion dollars annually, but neither Washington nor Gulf neighbors will accept that framework. The more likely outcome is a prolonged stalemate or a negotiated figure far below Iran's opening demand, keeping a persistent risk premium embedded in oil.
That's the tape. Markets Desk, signing off the floor.
