Blue Owl Capital’s quarterly revenue rose 13.5% year on year to $447.75 million, while EPS fell to $0.36
Blue Owl Capital Corporation reported revenue of $447.75 million for the quarter ended December 2025, up 13.5% year over year. EPS was $0.36, down from $0.47 a year earlier.
Revenue was 0.36% above the Zacks Consensus Estimate of $446.15 million. EPS was 1.9% above the consensus estimate of $0.35.
Interest income from non-controlled, non-affiliated investments was $340.58 million versus an estimate of $334.04 million, up 18.6% year over year. Other income from the same category was $4.87 million versus $5.54 million, down 16.3%.
Dividend income from controlled, affiliated investments was $39.54 million versus $38.3 million, up 55.8%. Other income from controlled, affiliated investments was $0.04 million versus $0.05 million, down 68.6%.
Dividend income from non-controlled, non-affiliated investments was $19.25 million versus $22.45 million, down 18.9%. PIK interest income was $0.09 million for non-controlled, affiliated investments versus $0.85 million, down 89.3%, and $31.55 million for non-controlled, non-affiliated investments versus $28.35 million, down 24.5%.
Non-controlled, affiliated dividend income was $0.39 million versus $0.02 million, while interest income was $0.42 million versus $0.43 million, down 8.7%. Total investment income was $396.25 million from non-controlled, non-affiliated investments versus $390.37 million, up 10.5%, and $50.58 million from controlled, affiliated investments versus $48.63 million, up 50.3%, including $11 million of interest income versus $10.28 million, up 45.7%.
Blue Owl Capital Corporation’s latest report from late 2025 sends mixed signals. Revenue beat estimates and rose 13.5% from the prior year. But earnings per share (EPS) fell from $0.47 to $0.36. Strong revenue and weaker profits often create uncertainty, which can lead to bigger price swings.
A positive sign is the 18.6% jump in core interest income, which also beat analyst estimates. This makes sense because the Federal Reserve kept interest rates high through 2025. Higher rates can help lenders like Blue Owl earn more. This suggests the core business is still performing well in the current market.
Still, the drop in EPS is an important warning sign. In the fourth quarter of 2025, U.S. corporate credit defaults rose slightly. The lower EPS could mean the company is preparing for possible loan losses. The large declines in payment-in-kind (PIK) interest income—a riskier, non-cash type of income—also suggest the company may be taking a more cautious approach.
Because the results are mixed, implied volatility for OBDC options may rise in the near term. In past 2025 earnings reactions, the stock often moved first on the revenue beat. Then traders adjusted after looking closer at the details. That pattern can lead to a sharp short-term move that does not always last.
Over the next few weeks, this setup may favor options strategies that benefit from movement in either direction. Traders could consider straddles or strangles using near-term contracts, such as those expiring in March or April 2026, to target expected volatility. Traders with a clear bullish or bearish view could also use higher option premiums to sell credit spreads, aiming for the stock to stay above support or below resistance.
Fiscal health worries keep the yen weak; USD/JPY rises again to around 155.35, a one-week high
USD/JPY rose for a second day and hit around 155.35 on Thursday, the highest level in more than a week. It later eased in early European trading but held just above 155.00, up nearly 0.20% on the day.
Japan’s weak fourth-quarter GDP has increased calls for more stimulus. The IMF warned that cutting the consumption tax could shrink fiscal room and raise debt risks. This has weighed on the safe-haven yen, especially as overall market sentiment stays positive.
Fed Policy Split Supports Dollar
The US dollar remains supported after the January FOMC minutes showed officials divided on when to cut rates. Some said cuts may be needed if inflation falls as expected. Others warned that easing too soon could put the 2% inflation goal at risk. Markets still expect three 25-basis-point Fed cuts this year. This contrasts with expectations that the Bank of Japan will keep moving toward policy normalization. At the same time, renewed geopolitical tensions have helped limit yen losses. Traders are watching upcoming US data, with a focus on Japan and US inflation figures due Friday. A correction noted that the dollar index rose on Wednesday because the Fed sounded less dovish, not hawkish. USD/JPY is showing a familiar pattern, similar to February 2025. The pair is again testing key resistance as the strong-dollar theme dominates. The latest push higher creates opportunities, but the risks are also rising.Options Strategies For USDJPY
The Japanese yen is under pressure again due to worries about fiscal health and slow growth. Japan’s Q4 2025 GDP report last week showed an unexpected 0.4% contraction, continuing last year’s weakness. This puts the Bank of Japan in a tough spot and makes aggressive rate hikes less likely, even with core inflation at 2.3%. Meanwhile, the US dollar is getting support from a Federal Reserve that appears reluctant to cut rates further. This year’s January CPI came in hotter than expected at 2.9%, which supports the Fed’s cautious approach. That differs from late last year, when markets had priced in at least two more cuts by mid-2026. For options traders, this backdrop may favor buying USD/JPY call options to benefit from the upward momentum. But because the pair can reverse quickly, a call spread can be a safer choice. It helps reduce premium costs and sets clear risk limits, while still offering upside if the pair grinds higher toward 160.00. The main risk is the gap between central bank paths, similar to what we saw in 2025. The BoJ has a history of surprising markets. Any hawkish shift could quickly strengthen the yen. For protection, traders may also consider long-dated puts or straddles ahead of the next BoJ meeting. These can help hedge, or potentially profit, if USD/JPY drops sharply. Inflation data from both countries in the coming weeks will likely be the key driver. The US PCE Price Index and Tokyo CPI will be important for direction. Volatility may rise around these releases, which can suit options strategies designed to benefit from large price moves. Create your live VT Markets account and start trading now.MUFG’s Lloyd Chan says upbeat US data and hawkish January FOMC minutes lifted the US dollar further
The US dollar rose after strong US economic data and January FOMC minutes that supported keeping policy tight. Durable goods orders, capital goods orders, and industrial production all beat expectations.
The broad US dollar index (DXY) gained 0.6%. The minutes showed that most officials supported holding rates steady and warned against easing too soon, even though two officials preferred cuts.
Dollar Strength Driven By Data And Fed Tone
Markets are still pricing in two Fed rate cuts in 2026. Headline CPI inflation slowed to 2.4% year-on-year in January, down from 2.7% in December. This could limit how much further the dollar can climb. In this environment, Asian currencies may stay under pressure. This piece was produced using an AI tool and checked by an editor. The US dollar is strengthening, backed by solid economic reports and the Federal Reserve’s latest meeting minutes. The Fed’s hawkish tone is likely to be the key market driver over the next few weeks. We should prepare for more dollar gains, but not expect an unlimited rally. Last month’s data showed durable goods orders up 1.2% and industrial production up 0.5%, both well above forecasts. The January Fed minutes also showed that most officials are concerned about cutting rates too early. That view is shaped by the persistent inflation seen through much of 2025, and it supports the idea of “higher for longer” rates.Options Strategies For A Stronger Dollar
One simple approach in this setup is to buy near-term call options on the dollar index (DXY). This can capture the current upside momentum while keeping risk defined. Another approach is selling cash-secured puts on dollar-focused pairs like USD/CHF, which can generate premium while expressing a bullish dollar view. Still, we should note that markets are not fully convinced the Fed will stay tight for long. Futures are pricing a 65% chance of at least one rate cut by the September 2026 meeting. This view is supported by the recent cooling in January headline CPI to 2.4%. This gap between the Fed’s message and market pricing could cap the dollar’s upside. It also makes a simple long-dollar position riskier beyond the next month or two. Calendar or diagonal option spreads may help capture near-term strength while allowing for a possible shift in sentiment later in the year. With the dollar strong, Asian currencies look especially exposed. Japan’s Q4 2025 GDP missed expectations, pointing to softer growth compared with the US. That backdrop can make call options on USD/JPY, or put options on currencies such as the Korean won, more attractive. Create your live VT Markets account and start trading now.Turkey’s consumer confidence rose to 85.7 in February, up from 83.7 previously.
Turkey’s consumer confidence index rose to 85.7 in February, up from 83.7 the previous month.
That is a 2.0-point increase from the prior reading.
Consumer Confidence Shows Modest Improvement
The rise in Turkish consumer confidence from 83.7 to 85.7 is a small but positive sign for the domestic economy. It suggests households feel slightly more optimistic, which could help support local equities in the coming weeks. We see this as a reason to stay cautiously bullish on Turkish assets. This update follows a difficult period, with inflation ending 2025 at around 68%. The central bank’s aggressive rate hikes last year were intended to reduce that pressure. The uptick in confidence may indicate those policies are improving stability without fully weakening consumer demand. For equity traders, this could be supportive for the BIST 100 index, which rallied strongly during 2025 as local investors looked for inflation protection. One way to express this view is through near-term call options on major Turkish ETFs. Another approach is selling out-of-the-money put spreads to collect premium, if this news helps create a short-term floor for the market. For the currency, this single data point is unlikely to change the broader direction in USD/TRY. The lira has continued to depreciate gradually, with the exchange rate moving above 42.00 earlier this month. We do not view this consumer confidence figure as a strong reason to go long the Turkish lira.Options And Volatility Considerations
Improved sentiment could lead to a small drop in implied volatility, which may make options slightly cheaper in the short term. Even so, Turkish markets remain highly sensitive to inflation readings and central bank decisions. Any derivatives positions should be sized for sharp swings, as this is still a high-risk environment. Create your live VT Markets account and start trading now.Rabobank’s Michael Every warns that US–Iran tensions are lifting oil’s war premium amid expected regional retaliation
Rabobank said geopolitical risk is rising, driven by the risk of US–Iran hostilities. Media reports have pointed to a high chance of war. Rabobank said markets are focused on the risk of Iranian retaliation across the region.
The note highlighted recent US logistics movements and an Axios headline that put the issue back on oil traders’ radar. It said the risk balance shifted toward a US strike after markets closed on Friday.
Regional Retaliation Scenarios
Rabobank said the amount of equipment moved to the Middle East suggests any action could last for weeks, rather than ending before markets reopen on Monday. It added that possible retaliation scenarios include activity across the region, attacks via terror cells in the West (including Europe), and potential disruption in the Strait of Hormuz. The report said these developments could move both markets and geopolitics. It added that oil and LNG prices would likely spike, and it called for a US plan to limit disruption to energy markets. Energy markets are already pricing in a larger war risk premium. Traders may need to be ready for sudden price shocks. The risk of a US–Iran conflict is now seen as very high, and that could push Brent crude—currently around $96 a barrel—much higher in the coming weeks. This is not just distant speculation; recent logistics suggest events could unfold with little warning. Attention is now centered on the Strait of Hormuz, a key chokepoint for global energy supplies. More than 20% of the world’s daily oil supply moves through this narrow waterway, and that share has been broadly steady for years. Any military action that threatens shipping there could quickly cut supply, creating a shock not seen in decades.Derivatives Market Volatility
For derivatives traders, this points to a likely jump in implied volatility. The OVX, which tracks oil price volatility, has already climbed to 41. A direct conflict could push it above the highs seen during the regional flare-ups in 2025. As a result, buying crude oil call options—or volatility exposure—may become a key way to hedge, or to position for a price spike. The 2022 market reaction to the war in Ukraine shows how fast geopolitical events can reprice energy. Brent rose above $120 a barrel as risk was rapidly re-assessed. A conflict in the Persian Gulf would likely have a more direct and sharper impact on crude. The risk is not limited to oil. LNG prices would likely rise as well. Europe still depends heavily on LNG imports, so any threat to Qatari cargoes moving through Hormuz would directly challenge Europe’s energy security. That is why options activity in natural gas futures could increase as traders prepare for multiple outcomes. Create your live VT Markets account and start trading now.EUR/GBP edges toward 0.8750 as weaker UK inflation hits sterling and boosts BoE rate-cut expectations
EUR/GBP ticked up to around 0.8745–0.8750 in early European trading on Thursday. The Pound slipped after weaker UK data. UK Retail Sales and the preliminary Eurozone GDP release are due on Friday.
Signs of a cooler UK labour market and easing inflation have increased expectations of Bank of England rate cuts later this year, after the Bank held rates at 3.75% at its February meeting. UK CPI rose 3.0% year on year in January, down from 3.4% in December, and in line with forecasts.
UK Inflation And Rate Cut Pricing
Core CPI rose 3.1% year on year in January, down from 3.2% previously, and also matched expectations. Interest-rate futures now price in nearly a 90% chance of a March BoE rate cut, up from about 80% before the inflation release, according to Reuters. In the Eurozone, reports about a possible early departure by ECB President Christine Lagarde have been noted as a potential source of EUR volatility. Her term ends in October 2027, and the ECB said no decision has been made. The widening gap between the Bank of England and the European Central Bank is now the key driver. With UK inflation falling to 3.0%—its lowest level since March last year—markets are strengthening their view that the BoE could cut rates next month. That would likely keep pressure on Sterling versus the Euro. This view is supported by the latest UK unemployment data from the Office for National Statistics, which ticked up to 4.4%, pointing to a softer labour market. In contrast, recent Eurozone services PMI data showed an unexpected expansion, suggesting the economy may be holding up better. This contrast could support further gains in EUR/GBP.Proposed Trade Expression
One way to express this view is to buy EUR/GBP call options with strike prices near 0.8800, expiring in late March or April. This gives us the right to benefit if the exchange rate rises, helped by a highly likely BoE rate cut. Risk is defined and limited to the option premium paid. A similar move played out in the second half of 2025, when early signs of UK weakness appeared. As markets priced a more dovish BoE, EUR/GBP rose by nearly 250 pips over two months. The current setup looks similar and suggests the trend may have more room to run. Speculation about Lagarde’s potential early departure is a secondary factor that could add volatility. Even if it remains only a rumour, it makes long option positions more appealing than futures. Options can capture upside from the rate story while offering protection against sudden, unrelated Euro shocks. Create your live VT Markets account and start trading now.Buyers lift GBP/JPY again as yen weakness persists, nearing weekly highs but still below the mid-209.00s
GBP/JPY rose for a second day on Thursday as the yen weakened. Prices traded near the top of the weekly range. The pair stayed below the mid-209.00s after bouncing from 207.30–207.25, a near two-month low.
The yen eased as investors worried about Japan’s fiscal position and slower GDP growth. Japan’s Prime Minister Sanae Takaichi is expected to announce new measures after a landslide election win earlier this month. That has increased expectations for more stimulus.
Yen Weakness And Fiscal Concerns
The IMF warned that cutting the consumption tax could shrink fiscal room and increase debt risks. This reduced demand for the yen as a safe haven and supported GBP/JPY. Even so, markets still expect the BoJ to keep tightening policy. In the UK, markets are increasingly pricing in a BoE rate cut as early as March. This follows a weak jobs report and UK inflation falling to its lowest level in nearly a year. These opposite policy expectations could limit further GBP/JPY gains. Focus now shifts to Japan’s National CPI release on Friday and the flash global PMIs. From a technical view, more downside would likely require a sustained break below the 100-day simple moving average. We are now seeing the results of the policy gap we flagged back in 2025. The Bank of England started its easing cycle last year, while the Bank of Japan delivered modest tightening. This clash has kept GBP/JPY volatile and has capped the stronger upside momentum seen earlier.Options Volatility And Key Levels
For Sterling, the BoE’s 2025 rate cuts appear largely priced in. Recent data also shows some stabilization. UK inflation is now close to the Bank’s target, with the latest reading at 2.1%. The latest services PMI was also firm at 54.3. This supports the view that the BoE may hold rates steady for now, which could limit further downside in the pound. For the yen, sentiment remains weak as markets debate the impact of last year’s fiscal stimulus. Japan’s economy unexpectedly shrank by 0.1% last quarter. This highlights ongoing challenges and makes it harder for the Bank of Japan to justify more rate hikes. That hesitation is keeping pressure on JPY. With this in mind, implied volatility in GBP/JPY options is worth watching for derivatives traders. If the BoE stays on hold and the BoJ remains cautious, the pair may trade in a range in the short term. Still, it could react sharply to policy surprises. A strategy like a long straddle could position for a larger move ahead of upcoming inflation data in both countries. Key technical levels also matter. The pair has failed to hold above 200.00 several times this year. A break below support near 197.50 could point to renewed bearish momentum. In that case, put options may look more attractive as a hedge or a speculative trade. The market is still waiting for a clear catalyst, which could come from the next round of central bank commentary. Create your live VT Markets account and start trading now.Silver rises toward $78 an ounce in Asian trading on safe-haven demand amid US-Iran tensions
Silver (XAG/USD) rose for a second straight session and traded near $78.00 per troy ounce during Asian hours on Thursday. Demand for safe-haven assets increased as tensions between the US and Iran grew.
US-Iran talks are still unresolved, even as Tehran reported a “general agreement” on a framework for a possible nuclear deal. US officials said Iran has not met US red lines, and the US continues to keep military action on the table.
Geopolitical Risk Supports Safe Haven Demand
Ukraine and Russia ended two days of peace talks in Geneva without progress, as the four-year war continued. The fighting included strikes on energy infrastructure and further advances on the battlefield. Silver’s gains in US dollars may be capped by a stronger US Dollar after hawkish signals from the Federal Reserve. Higher US yields increase the cost of holding non-yielding assets like silver and can also weaken demand from buyers outside the US. Minutes from the Federal Open Market Committee’s January meeting revived concerns about possible rate hikes if inflation stays high. Most policymakers supported keeping rates steady, a few favored a cut, and traders still expected two 25 basis point cuts before year-end. Silver is often used as a store of value and a diversification tool. Investors can buy it as bullion or through exchange-traded funds. Prices can also move due to industrial demand (especially electronics and solar), mining supply and recycling, and shifts in gold prices and the gold/silver ratio.Market Forces In Conflict
Silver is being pulled in two directions right now. Tensions in the Middle East and Eastern Europe are driving safe-haven buying and pushing prices toward multi-year highs. At the same time, the Federal Reserve’s tough stance on inflation is lifting the dollar and limiting how far silver can rise. As US-Iran tensions increase, Brent crude futures jumped above $110 a barrel this week, the first time since the supply shocks in late 2024. This kind of instability suggests that any direct conflict could send silver sharply higher from the current $78 level. Traders may consider buying out-of-the-money call options to benefit from a sudden spike while keeping downside risk limited. However, the strong dollar remains a major headwind, especially after last week’s Core PCE inflation data for January 2026 came in at a stubborn 3.1%. This supports the Fed’s “higher for longer” view, which could push Treasury yields up and pull silver down from current levels. Buying put options or using collars may help protect gains if Fed policy starts to outweigh war-related fears. These mixed signals have pushed implied volatility in silver options to the highest levels in more than a year. The CBOE’s Silver Volatility Index (VXSLV) is now above 45, which suggests the market expects big price swings in the coming weeks. With volatility this high, strategies like straddles or strangles may appeal to traders who want to profit from a large move in either direction. It is also worth watching the Gold/Silver ratio, which has recently narrowed to about 65:1, well below the 20-year average near 75:1. This suggests silver may be expensive relative to gold, a shift from most of 2025. One reason could be strong industrial demand: global solar panel installations in 2025 reportedly rose another 20%, drawing more physical supply out of the market. Create your live VT Markets account and start trading now.Data show that gold prices in the Philippines declined, based on figures compiled from market sources and reported accordingly
Gold prices fell in the Philippines on Thursday, FXStreet data showed. Gold was priced at PHP 9,276.30 per gram, down from PHP 9,295.22 on Wednesday.
Gold slipped to PHP 108,198.50 per tola from PHP 108,417.60 a day earlier. Other listed prices were PHP 92,759.34 for 10 grams and PHP 288,523.60 per troy ounce.
Local Pricing Method
FXStreet converts global gold prices into PHP using the USD/PHP exchange rate and local units. Prices are updated daily using market rates at the time of publication, so local prices may vary. Central banks are the biggest holders of gold. In 2022, they bought 1,136 tonnes worth about $70 billion, according to the World Gold Council. This was the highest yearly total since records began. Gold often moves in the opposite direction of the US Dollar and US Treasuries. It can also move against risk assets like stocks. Prices can also react to geopolitics, recession worries, interest rates, and dollar strength, since gold is priced in dollars (XAU/USD). This small drop to about PHP 9,276 per gram is likely short-term noise. The broader forces that support gold—such as its role as a hedge against currency weakness—are still in place. Focus on the bigger trends that may drive prices in the coming weeks.Market Outlook Drivers
Central banks kept buying through 2025, adding more than 800 tonnes to global reserves as they diversified away from the US Dollar. This steady demand, especially from developing countries, helps support gold prices. It also signals that large institutions see long-term value, which may limit the risk of sharp declines. The US Federal Reserve’s dovish shift late last year has weighed on the dollar, and that trend may continue. With markets expecting at least one rate cut before July, conditions are improving for non-yielding assets like gold. A weaker dollar also tends to make gold cheaper for buyers using other currencies, which can lift demand. The strong rallies in 2024 showed how fast gold can react when expectations for monetary policy change. Gold is highly sensitive to signals of lower interest rates. Traders may want to consider strategies that can benefit from potential upside volatility in the weeks ahead. Gold’s tendency to move opposite to risk assets is another key point to watch. After a strong final quarter of 2025, when the S&P 500 rose more than 9%, any pullback in stocks could spark a move into safe-haven assets. That could push more money into gold and support higher prices. Create your live VT Markets account and start trading now.In the United Arab Emirates, FXStreet-compiled data shows that gold prices declined today
Gold prices in the United Arab Emirates fell on Thursday, according to FXStreet data. Gold traded at AED 586.92 per gram, down from AED 588.60 on Wednesday.
The price per tola dropped to AED 6,846.01, from AED 6,865.30 the day before. Other listed rates were AED 5,869.45 for 10 grams and AED 18,254.09 per troy ounce.
