B ybit Private Wealth Management USDT-based strategies achieved an average APR of 12.56%, while BTC-based strategies recorded an average APR of 5.93%.
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mortgage market Mortgage Rates Climb Above 6.5% Again, Dragging Down Homebuilder and Home Improvement Stocks
Lennar and PulteGroup have lost 14.3% and 8.9% of their value over the past month. Home Depot and Lowe's have also fallen 11% and 8.5%, respectively. These declines are directly linked to a 40-basis-point increase in the 10-year Treasury yield to 4.34%, which has pushed the 30-year fixed-rate mortgage back above 6.5%. The rise in mortgage rates is a function of inflation concerns, primarily from surging oil prices. The futures market now prices in zero Federal Reserve rate cuts through the end of 2026, and some officials are suggesting a rate hike may be on the table if inflation continues to climb.
These returns follow a period of reduced risk appetite and limited leverage driven by persistent inflation and hawkish signals from the U.S. Federal Reserve, which delayed expectations for interest rate cuts. This environment prompted a capital rotation into real-world asset tokenization and treasury-backed products, as tokenized U.S. Treasury products absorbed liquidity that would otherwise flow into higher-risk crypto assets.
Gladstone’s 10.4% Yield Holds—for Now—as Loan Growth Offsets Falling Rates
Gladstone Capital Corp’s $0.15 monthly distribution is covered—for now—by $0.50 in net investment income per share, a margin thin enough to leave little room for error. The 10.4% yield that draws income investors rests on a leveraged stability: falling portfolio yields have been offset by growing the loan book, not by rising returns. The weighted-average yield on Gladstone’s interest-bearing assets fell from 13.9% in Q4 2024 to 12.2% in Q1 2026, a direct result of the Federal Reserve holding rates at 3.75% since December 10, 2025. With no rate hikes to boost floating-rate income, the company leaned on volume. The weighted-average principal balance jumped from $647.2 million in Q3 2025 to $772.3 million in Q1 2026, lifting total income even as yields dropped. The portfolio’s fair value reached $902.9 million, a record high. Management also improved the balance sheet: $149.5 million in 5.875% Convertible Notes due 2030 replaced more expensive debt, and the credit facility was expanded to $320 million with the final maturity pushed to October 2029. Still, NAV per share has slipped from $21.30 to $21.10. The rate freeze brings stability, not recovery. Coverage holds at current levels, but if loan growth stalls or credit quality deteriorates, the dividend could face pressure. Total return depends heavily on reinvested dividends, as share price performance has been negative over the past year.
Bybit PWM reported its top-performing fund delivered an annual percentage rate of 25.41% during the period.
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stock market hedging Goldman Sachs Warns S&P 500 Overvalued, Recommends Hedging with 13x Return Potential
The SPY May 8 expiry 680/630 put spread is priced at a $3.80 premium with a reference price of $699.94, offering a maximum gross return multiple of 13.2 times if the S&P 500 falls to its year-to-date low before May 8. This structure caps maximum loss at the premium paid and sets a breakeven point approximately 3.4% below the current S&P 500 level. The trade is structured to hedge against two risk scenarios: renewed geopolitical tensions and continued de-risking amid slowing growth and inflation. Goldman Sachs warns the market has 'overshot,' with the S&P 500 reaching a historic high of 7022 points on April 16. Implied volatility has significantly declined, making options pricing relatively cheap and providing a favorable entry point for directional hedging.
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