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Inflation reflects growth dynamics in India: Christopher Wood
Hello everybody and thank you for asking me. I will be running through some charts which were still first with the situation in the West. Then I will move on to charts on Asia and India. So I get the bad news out of way first. But this seems to be the wrong way around. So I am getting from back to front here. (Watch)
To start with the US situation, this is a big picture chart everybody needs to be aware of in the global economy. This is US total debt as a percentage of GDP. The story is very simple and the total amount of debt in the system in the US has been going down ever since the credit crisis erupted in 2007-2008. This the first time total debt has been falling in America since the Great Depression.
Mr Bernanke of the Federal Reserve has been trying to get the re-leveraging game going so far, they have not succeeded. My operating assumption is to assume that the leveraging will continue that we peaked out in the US super credit cycle in 2007, which has been running since the Second World War and now in a long-term de-leveraging cycle, which means lower trend GDP growth.
May be re-leveraging will kick in coming months in which case I will change my view, but for now I am assuming it’s a de-leveraging cycle until the data proves otherwise. Next chart you see US total net credit market borrowings and you can see the rate of growth of borrowing has been going down in the system despite the big kick up in Federal Government borrowing.
Next chart is a long-term trend in US nominal GDP 10-year compound annual growth. As the Japanese example has shown in the last 20 years, when you get into a deflationary environment, it no longer makes sense to look at real GDP measures because when inflation zero level what gives a more realistic picture of what is going is nominal GDP. And in my view, nominal GDP growth in America will continue to trend down. We have seen a big rally in US government bond prices this year, as telling you the trend nominal GDP growth is lower and that means the trend earnings growth, trend revenue growth in America is also going to be lower.
Then next chart relates to the consumption story in America which in my view is going to remain anaemic. In my view the US consumers, western consumers in general, are going to be increasing savings rate. There is also a demographic kicking in… the baby boom as heading for retirement, but they cannot afford to retire. So topline is US real disposable personal income, the bottom line is real personal income excluding current transfer receipts. Transfer receipts basically mean welfare payments. So you can see without all the stimulus from the government the fundamental income trend is much weaker. What separates the emerging markets from the developed world is an emerging markets like India with healthy income growth and the developed countries, be it the US, Japan, Europe, we do not have healthy income growth.
Next chart highlights a significant rally in US Treasury Bond prices reflected in declining treasury bond yields which has happened this year. At the start of this year the biggest bearish consensus amongst global equity investors was that US Treasury bonds were screaming sells.
Everybody said that the treasury bond market is going to collapse, the Fed printing money inflation is coming back. Clearly that consensus was completely wrong. US Treasury Bond market has been rallying even with the recent pick in the S&P and recent weeks up to 1150 level which I think was a peak of this counter trend rally. Even with the stock market rally the bond market did not sell off. What this bond market is telling you is that nominal GDP growth is slowing in America, it is telling you it is not a normal recovery. The credit multiplier is not working.
Once the inventory cycles happen & the US capex cycle has ran through, there will be nothing left to sustain the economic momentum. So in a deflationary environment, government bond prices are lead indicator of nominal GDP growth. Right now this is a very important point because the US bond market is sending one message and the US stock market is sending another message and basically investors have a decision to make – do they believe the bond market is giving the correct signal or the stock market? My assumption is that it’s the bond market and my experience is that the bond market is no way smarter than the stock market 90% of the time. Meanwhile, this is US headline CPI inflation for the rest of this year we are going to see inflationary pressures falling throughout the world in the West. That’s going to lead to new deflation concerns.
In Asia and countries like China and India, falling inflationary pressures are going to be bullish and everybody is going to realise it does not make sense to worry about inflation in countries like India. The good news is that you have inflation because that reflects the fundamental growth dynamic. But the key point about the US is if the trend over the past 3 months has extrapolated forward, US CPI inflation will turn negative in October. If that happens, it’s not going to be bullish for equities, it’s going to be bullish for government bonds and it’s going to be a signal for Mr. Bernanke, if we have not done that already, to assume quantitative easing.
Next chart, US average duration of unemployment. So basically there are large groups of the structurally unemployed in America. So in this sense, the US is heading for the European systems situation were you have a large group of structurally unemployed living off the welfare state. The problem in America is that the welfare state is much more controversial than in Europe, hence the political divide in America, hence the growing trend under the so-called Tea Party movement.
Meanwhile the classic monetary measures are highlighting the fact that we are not in a re-leveraging cycle, we are still in a deleveraging cycle. This is the US money multiplier representing the velocity of money in circulation. Velocity of money in circulation is declining. So long as that line is declining, it’s deflationary. We don’t have to worry about inflation picking up, and this chart highlights the growing deflationary threat.
Next chart is US broad money supply growth. Again, money supply growth is going down. That’s why the bond market’s rallying, that’s why inflation is not an issue, that’s why Mr. Bernanke is now looking for an excuse to resume quantitative easing.
Next chart is US bank lending. Again, no real sign of any kind of meaningful pick up in bank lending annualise lending loan growth continue to slow another indication of a deleveraging cycle. This is not just about banks restricting credit, it is also about a change in psychology, economic agents be it the companies or consumers have become more risk averse about borrowing.
Next chart is US total securitisation issuance. In the recent credit boom before the bust a large part of the credit cycle was driven by securitization, therefore we are going to get re-leveraging in America. We need to see a healthy pick up in securitisation as well as banking lending, but the only area that has picked up since the crisis is the dark blue line here.
This is agency mortgage bank securities, that’s Fannie Mae and Freddie Mac. These entities are guaranteed by the Federal Government and therefore they do not really count. Any private sector securitisation has barely recovered. Meanwhile the huge role played by Fannie and Freddie should not be ignored in terms of supporting the housing market.
Basically about 96% of the America mortgage market now is government guaranteed. So that’s the US situation. The big picture is still deflationary. However, in terms of macroeconomic shocks that could cause another steep fall in global equities this year for the rest of 2010, I still believe there is going to be another sharp decline in equities like we saw in April and May. It’s more likely to be triggered by the Eurozone where you have systemic risk relating to government debt.
So this chart relates to the ECBs net buying of Euroland government bonds. The key point here is this ECB was forced reluctantly to stop buying junk government bonds in Europe like Greek government bonds in May when the Greek crisis blew up. The interesting point is the ECB is only doing this reluctantly and as equity markets have rallied and the credit spreads have come in, the ECB has progressively bought less and less junk government paper.
Basically last week they hardly bought anything – they’re probably going to go down to zero just as this counter trend rally peaks.
How early we go down depends on whether there is another bout of risk aversion or markets are just focusing on waning growth. This is Greek and PIG government bond yield spreads. I was recommending for several years the investor should bet on wise widening PIG spread. PIG spread, for people who don’t know this, is the average bond yield of Portugal, Ireland, Greece, Spain over the German bond yields-I closed out that just about when the Greek crisis peaked. And I think a better trade is going forward is what I called a Spanish flu trade, betting on rising Spanish CDS.
For now the jury doubts on whether these European countries can make the fiscal adjustments being demanded by the Germans, but people should understand that the Germans have a completely diametrically opposite view to the Americans – they simply do not believe that fiscally stimulating is the way to get yourself out of the economic problem. So right now the weaker part of Euroland has embarked on a fiscal adjustments which is intrinsically deflationary, given the downturn they are facing.
The stress test is being led by Ireland. Last year the Irish economy contracted in nominal terms by more than 10 percentage points. So far the Irish are taking the pain probably because the only boom they have had in the last 1000 years was when they join Euroland community. So in that sense willing to take quite a lot of pain, but in the big stress test it is going to be Spain.
Spain is a big important country. They had a massive private sector debt binge, they got the biggest housing bust in the west, even bigger than the US. So it is going to be interesting to see whether the Spanish political system can make this fiscal adjustment, given the fact they already have nearly 20% unemployed. I have an open mind on this. We just have to see what happens and may be the Europeans can make this fiscal adjustment, in which case it’s going to be a lot of pain, but the Euro as a currency is going to merge with huge credibility.
On the other hand, it may well be that this level of fiscal austerity is simply incompatible with the political systems of these Mediterranean countries. Right now, it is impossible to tell the European who is watching the football and now at the beach we can have a much better ideas they can take this pain by about January-February next year.
But in the meantime if the markets will test or are bound to test the European’s willingness to take this fiscal adjustment in the next few months. Tactically I would be selling the Euro against the dollar here as we had a significant bounce back in the Euro. So those are my thoughts on basically the West. It’s a deflationary environment. But in the US we are going to continue to stimulate in the Europeans because the Europe’s case is going to follow the German President.
Turning to Asia, Asia is a fundamentally healthy story unlike the West. In my view, the peak of the Asia ex-Japan index you saw prior to the credit crisis will be exceeded sooner or later because the Asian economies are growing healthily and have effectively decoupled from the West even though the markets haven’t. This is MSCI Asia ex-Japan relative to MSCI world index. They’ve been in & outperforming trend since the bottom of the Asian crisis in 1998 and that outperforming trend is resuming when the Chinese stock tightening and then formally start easing again which will happen in the next few months. That will reaccelerate Asian outperformance.
Valuation wise, Asia is trading in line with the US on the 12-month forward PE basis. In my view, sooner or later Asia is going to trade at a sustainable premium over the West because the fundamental growth story is so superior. In terms of my relative return asset allocation, I’m going to take a detour here. I am structurally overweight on India and Indonesia as these are the two best long-term stories in Asia. But tactically I have reduced India a bit and raised China because we are going to get a policy inflection points in China in the next few months which will be bullish for Chinese stocks.
But my big underweight in Asia Pac portfolio is Australia which is why I’m weaving more money into China because it has become cheap. What I am underweight on is those stock, sectors, countries which are perceived as beneficiaries of Chinese growth like the commodities sector, because in my view, Chinese growth is going to be slowing for the rest of this year and that’s a negative headwind for the commodities complex.
From an Indian standpoint that was obviously positive. I think oil is going this week to be as high as it’s going to get on its counter trend move. Clearly if you are more bullish on oil, you will be more bearish on India and this is my long only portfolio on Asia or ex-Japan.
I started this portfolio beginning of fourth quarter 2002, sent about 25 to 30 stocks in it, mostly large cap. I cannot have any cash and it’s long only and is basically playing the domestic story in Asia as always. Mostly has the biggest weight being in India because India since always has been my favourite equity story in Asia. It’s still got a big weighting in India. We can argue about the details of what stocks to own etc, but fundamentally this has India. Secondly, China if I did not have a big capital orientation, then I would have less in China, more in smaller Asian markets like Indonesia and Philippines.
That’s the performance of my long-only portfolio compared with the benchmarks. Since I cannot really have cash, as I said, so I cannot really hedge it, but for those who want to hedge I have been recommending since the middle of over 2007 that investors hedge this long Asian exposure by shorting western financial stocks. I have now narrowed that down in recent months into not shorting western financial stocks, but shorting European financial stocks because European financial stocks are much more geared to the systemic risk from junk European government debt and they are also in a much more leverage than American financial stocks.
This is my global portfolio I have also been running since 2002. This has run on a theoretical US dollar denominated pension fund on a 5-year view and this portfolio I have simplified in recent months have got 15% weighting in US 30 year treasury bonds.
That might seem crazy to people given the fact that the US government debt is getting bigger & bigger, but one of my views is that the most likely end game is a sovereign debt crisis in the US and the collapse of the US dollar paper standard. I don’t think that end game happens this year and in my view before this oust in the game is played out the deflationary pressures in the US will take bond yields much lower. So I think it’s quite possible the 10-year Treasury goes 2%, 30 year treasury goes to 3%. For people who think that’s insane, I should point out that the 10-year GDP went below 1% this week and in 2003 got to 0.45 basis points.
So the message is that in deflationary environment bond thing gets very low indeed because the risk aversion causes people like banks, insurance companies, individuals to buy bonds to lock in income because in deflationary environment there is not much income around. So that’s the deflationary hedge, but 45% of my portfolio is geared to the best story in the world, which is Asia.
So I got 15% in Asia or ex-Japan physical property, 30% in my long-only Asia or ex-Japan portfolio. Then I got a longstanding position in gold and gold mining stocks which I have since inception of this portfolio and this position in gold is basically hedging for US dollar denominated pension funds. The big picture risk is that one day simply the world revolt against the ongoing US stimulus and there is a sovereign debt crisis in the US dollar, US government debt, which means the end of the US paper standard and the end of the post 1945 Western paper currency system. And in that environment gold can go parabolic. My longstanding target for gold that can peak in this bull market is $35000 per ounce.
So this is a gold bullion chart in US dollar terms. The key point about this chart is that it’s quite obvious gold is in a bull market and remains in a bull market and this bull market, when it ends, will end in a parabolic spike which we have not seen yet. The next obvious trigger for the next big move in gold will be the next time Mr. Bernanke adopts quantitative easing and the next time he does it he who is going to have to expand the balance sheet more than the last time (because otherwise people are going to worry if it’s going to work), but cannot do it right now because the news flow is not bad enough.
Gold stocks relative to gold bullion price. In my view gold stocks made that relative low to gold bullion price in 2008 when commodities collapsed. So for equity managers who cannot buy pure bullion I would say look at gold mining stocks because if gold goes $35000 per ounce, it is going to be massive operating leverage for those mine. Gold stocks that actually produce gold haven’t hedge the gold and on jurisdictions where governments don’t cease the gold often.
I am turning to some Asian Pacific charts. I will just run through few charts on China that’s a big story for everywhere as I say Chinese market has underperformed this year. The key point to understand about Chinese stocks is that they are policy-driven. Indian stocks are earnings-driven while Chinese stocks are policy-driven. The Chinese government is tightening, that is why the market has been going down. When the Chinese government starts easing, the Chinese stocks will go up and then may be outperforming Indian stocks for a period.
Real GDP growth in China. China growth peaked in my view first quarter. It’s going to be slowing for the rest of this year probably an annualised growth 12% first quarter, may be down to 1% by the fourth quarter. That is going to create a lot of market noise. It will be negative for commodities. It’s not a big deal, but it will create a lot of noise. Chinese bank landing has slowed dramatically this year from the surge last year. China is a command economy banking system. So that looks dramatic, but that has seen the loan growth slowing to 18% which is still respectable, it’s not cold turkey.
China has been tightening on the property market. So what the stock market in China wants to see is more and more developers willing to cut property prices because it’s more than evident that developers are stopping raising prices and starting to cut prices. The greater the hope that the Chinese government stops tightening that process should play out in the next few months. As you can see here average daily residential sales of Chinese properties have fallen pretty dramatically since April when the government got more aggressive on tightening. You’d have read a lot about Chinese property bubbles, especially in America.
The Chinese property markets have a lot of excess supply, but it’s not a bubble because you have very conservative mortgage financing. What you do have there is a lot of high end developments sitting 80% empty. So Chinese people like to have lot of flat value and don’t like to have flats once used because they think a used flat is devalued just like a used car.
What about the currency? When the renminbi starts to rise against the US dollar incrementally, maximum incremental appreciation will be of 5%. So the Chinese are going to let their currency go up slightly, but you are not going to get any aggressive moves.
I got a chart on Hong Kong just to highlight that we have got a big long-term asset inflation story in Asia. The quintessential asset inflation story in Asia is Hong Kong because of the supply constraints. In my view, Hong Kong property would sooner or later exceed 1997 peaks. You can get a mortagage in Hong Kong today for less than 1%. There you see, apart from Mumbai, this is a one property market in Asia with the massive supply constraint. This is a new supplier residential properties. So Hong Kong I think is a classic asset inflation story to monitor.
Turning to India, I would not go too much linked to India because everybody over here would know more about it than me, but we probably had a big inflation scare at the start of this year. In my view, it’s fundamentally silly to worry too much about inflationary pressures in Asia.
We should be celebrating the fact that there is inflation because if there wasn’t inflationary pressures in Asia, it would mean the world is facing a global depression because there is no growth dynamics in the developed world. So I am glad there is inflationary pressure. Having said that inflation is going to be coming off in India for the rest of this year which means that concern should recede. The central bank will continue to tighten incrementally. I think that’s sensible given the external environment, but I think incremental tightening that the RBI is doing is enough to upset stocks here unduly.
Bank credit growth. This I think is a very important chart. The Indian banking sector is a capitalist banking system unlike the Chinese system. So when the economies slow, the banks slow their lending whereas in China they were ordered to lend more. Now the credit cycle is picking up again, that’s a very healthy development. We are looking at about 20% loan growth in India this year. But I think the most important positive points of all is that the credit cycle is being led by infrastructure loans, not personal loans, as you can see from this chart. This raises the key point which in my view is the critical bearable for the Indian macroeconomic story this year and for the next 5 to 10 years is whether we can get an infrastructure cycle playing out.
The fact that infrastructure loans are leading the credit cycle is anecdotal evidence that is happening. If we get infrastructure happening in India, it’s quite possible that India can grow at 9% plus a year for the next 5 years at least, if not 10 years, which means that India in my view is going to be growing more rapidly than China. In my view a more basic trend growth in China is going to be 8% and that’s a growth rate that Chinese Communist party is going to be comfortable with. So the higher growth rate in India than in China, if the infrastructure story happens, is going to raise the profile of the Indian story globally.
Clearly if I am wrong and infrastructure does not happen in India, the whole Indian story becomes much less interesting. It’s not a disaster, but the country only grows just 5%-6%. So this is fixed investment relative to GDP in India. I am expecting this line to pick up again. Car sales, two-wheelers sales are going up. So the consumer story is still perfectly good story in India. It has picked up with the monetary easing, but as I say the key variable for me is infrastructure.
In terms of risks to the Indian markets, probably the biggest risk to the Indian market is simply the huge amount of foreign money. My own guess is that the next time there is a global hiccup, foreigners will sell India less aggressively than in 2008 for the simple reason that India has shown it can decouple from the US economic cycle.
The other point is the fact that foreign investors stay much in India is basically confirmation that India is a good story and those foreign investors who have not yet invested in India are all desperately waiting for a correction. So they can invest, that’s the mindset of them.
One year forward price to book. India is not cheap, but it’s not expensive in the context of Indian stock market history and in my view the Indian stock market will continue to trade at a premium to Asian and mother of emerging markets because the Indian market is like one big growth stock and growth stocks trade at a premium. Clearly, if you want to enter in an equity portfolio for dividends & you don’t buy India, then you should go and look at Singapore.
This chart perceives a useful chart for anybody who is trying to raise Indian funds in the room because it shows a huge outperformance of India – MSCI India relative to MSCI China in recent history. I will just end with the 3 charts on Japan & the reason I am doing this is because of my experience when I lived in Japan in the early 90s and the experience of Japan in the last 20 years is a potential lead indicator of what is going to happen in the West.
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D-Street Week Ahead: Nifty extends rebound; Godfrey Phillips signals breakout after base formation
This cigarette manufacturer has shown a major base formation over the past several weeks. As indicated by the technical parameters, the stock is set to move higher from its current levels, leading to a potential trend reversal in the stock.
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After staying in a corrective downtrend for a few months, GODFREYPHLP formed a base for itself in January this year. This base formation happened when the RSI formed a bullish divergence against the price. Over the past week, the stock has traded sideways while staying disconnected with the market moves on the either side.The daily MACD has turned positive over the past few days; it is now bullish and above its signal line. The expanding Histogram indicates accelerating momentum on the upside. The RSI has formed a new 14-period high, which is bullish.
The relative strength is showing a major trend shift. After flattening out, the RS line has started to move higher and has crossed above its 50-period MA. The stock has rolled inside the leading quadrant of the RRG; this will ensure relative outperformance of the stock over the coming days.
The OBV has formed a new high ahead of the price breakout. This bullish divergence indicates strong accumulation in the stock while it formed a base.
An expected move in GODFREYPHLP can take it higher to Rs. 2,300. A close below Rs. 2,030 would negate the current technical setup.
Milan Vaishnav CMT, MSTA, is a Technical Analyst and founder of EquityResearch.asia and ChartWizard.ae, and is based in Vadodara. He can be reached at milan.vaishnav@equityresearch.asia
Kela acquired over 5.15 crore shares in Indiabulls, representing a 2.22% stake.
Indiabulls, a smallcap company with a market capitalization of Rs 2,810 crore, operates across real estate and financial services.
The stock ended positively on Friday, surging 11.47% higher to close at Rs 12.15 on the BSE. Despite the sharp uptick, it remains down 18% over the past year and continues to trade below its 200-day moving average, though it has moved above its 50-day average—indicating early signs of recovery.
In a similar move, he bought a 1.21% stake in Simplex Infrastructures. It is a diversified company established in 1924 and delivers projects in several sectors like transport, energy & power, mining, buildings, marine and real estate etc.
Its stock gained 6.12% to close at Rs 192.35 on the NSE, even as it has declined 36% over the past year, significantly underperforming broader markets like the BSE Sensex and Nifty 50, which have delivered modest returns of 5% and 7%, respectively.
Kela’s portfolio boasts of 17 stocks with a net worth exceeding Rs 2,188 crore according to Trendlyne. The latest purchases highlight selective accumulation in beaten-down names.His other bets include Kopran, SG Finserv, Mkventures Capital, Prataap Snacks, Bombay Dyeing, Emkay Global and Repro, Trendlyne data revealed.
Kela’s biggest bet is Choice International with a holding value of Rs 1,127 crore. Mkventures Capital and Prataap Snacks are next in line with holding values of Rs 267 crore and Rs 109 crore, respectively.
Also read: Big Whale Ashish Kacholia hikes stakes in smallcap market outperformers SG Finserv, Aeroflex in Q4
(Disclaimer: The recommendations, suggestions, views, and opinions given by the experts are their own. These do not represent the views of The Economic Times.)
WASHINGTON — Hyundai Motor America is recalling 294,128 vehicles in the United States because a defect could cause the driver and front passenger seat belt anchors to detach, increasing the risk of injury in a crash, federal regulators said Friday.
The National Highway Traffic Safety Administration announced the recall on April 10, 2026, under campaign number 26V218000. A detached seat belt anchor may fail to properly restrain an occupant, the agency warned. No crashes, injuries or deaths have been reported in connection with the issue.
Affected models include certain 2023-2025 Hyundai Ioniq 6 electric sedans, 2023-2026 Genesis G90 luxury sedans, and 2024-2026 Hyundai Santa Fe and Santa Fe Hybrid SUVs. The vast majority involve the popular Santa Fe lineup, with roughly 158,000 non-hybrid and 95,000 hybrid versions included.
The problem stems from a damaged snap-on anchor that secures the front seat belts to the seat frame. During routine service or repairs, technicians may inadvertently damage the anchor when removing or reinstalling the seat, NHTSA investigators found after probing a consumer complaint on a 2025 Santa Fe. Extensive testing, including visits to manufacturing plants and analysis of auction vehicles, confirmed the defect occurs post-production rather than during assembly.
Hyundai and its luxury brand Genesis said they are aware of six complaints related to the anchors but no confirmed incidents where the defect contributed to a crash or injury. The recall affects only the front seat belts; rear seats are not involved.
Safety Implications and Owner Advice
Seat belts remain one of the most critical safety features in any vehicle. A failure in the anchor could reduce their effectiveness dramatically during a collision, potentially allowing occupants to move more freely and suffer greater harm. NHTSA urged owners to continue wearing seat belts at all times and to have the repair performed as soon as possible once notified.
The defect came to light through NHTSA’s Office of Defects Investigation after a single consumer affairs report. Investigators struggled initially to replicate the failure in controlled tests but eventually traced it to improper handling of the seat belt assembly during prior service work on the affected vehicles.
This marks another notable recall for Hyundai and Genesis in recent years, though the company has improved its safety record and recall response times compared with earlier controversies involving engine fires and other issues. Hyundai Motor America emphasized that the problem is not a manufacturing defect from the factory but rather a vulnerability introduced during subsequent maintenance.
What Hyundai and Genesis Will Do
Dealers will inspect the front seat belt anchors and replace any damaged components at no cost to owners. The remedy involves installing reinforced or properly secured anchors to prevent future detachment. Repair times are expected to be relatively short, though parts availability could vary by region in the initial weeks.
Notification letters to owners are scheduled to begin mailing in late May or early June 2026, according to the recall filing. In the meantime, owners can check their vehicle’s eligibility by entering the VIN on NHTSA’s website at www.nhtsa.gov/recalls or Hyundai’s owner portal.
Interim guidance from the automaker recommends that drivers and front passengers continue normal use of seat belts while awaiting the fix. Owners who have recently had seat work performed — such as upholstery repairs, seat replacements or electrical diagnostics — should prioritize scheduling the recall service.
Models and Production Years Affected
The recall covers a wide range of recent model years across both mainstream and luxury segments:
- Hyundai Ioniq 6 (2023-2025): The sleek electric sedan, praised for its range and design, represents a smaller portion of the total but highlights safety concerns in the growing EV segment.
- Genesis G90 (2023-2026): The flagship luxury sedan competes with Mercedes-Benz and BMW models. Its inclusion underscores that the issue crosses price points.
- Hyundai Santa Fe and Santa Fe Hybrid (2024-2026): These family-oriented SUVs account for the bulk of the recall. The redesigned Santa Fe has been a strong seller with its bold styling and spacious interior.
Production dates and specific VIN ranges are detailed in the full NHTSA report. Not every vehicle within those model years is affected; only those with the vulnerable anchor design qualify.
Broader Context of Automotive Recalls
This action arrives amid heightened scrutiny of vehicle safety systems as automakers roll out more advanced driver assistance technologies and electrified powertrains. Seat belt failures, though rare, draw particular attention because they undermine a fundamental passive safety layer that has saved countless lives since mandatory use laws took hold decades ago.
NHTSA data shows millions of vehicles recalled annually in the U.S. for issues ranging from airbags and brakes to software glitches and structural weaknesses. Hyundai has faced multiple recalls in the past, including high-profile engine and fire-related campaigns, but has worked to rebuild consumer trust through transparent communication and swift remedies.
Consumer Reports and safety advocates recommend that vehicle owners treat all recall notices seriously, even for seemingly minor components. “A seat belt that doesn’t stay anchored is no seat belt at all in a serious crash,” one expert noted.
Steps for Owners
- Check your VIN immediately on the NHTSA website or Hyundai/Genesis owner sites.
- Schedule the repair once notified. Most dealers will perform the work free of charge, including loaner vehicles if needed for longer jobs.
- Monitor for symptoms: If the seat belt feels loose, does not click securely, or shows visible damage to the anchor area, contact a dealer right away.
- Stay informed: Sign up for NHTSA email alerts and follow Hyundai’s recall updates.
Hyundai Motor America said it is cooperating fully with regulators and has taken steps internally to improve service training to prevent similar anchor damage in the future. Genesis owners will receive parallel notifications through the luxury brand’s channels.
Potential Impact on Owners and the Industry
For many Santa Fe owners — a popular choice for growing families — the recall may cause temporary inconvenience but underscores the importance of regular maintenance at authorized dealers. Ioniq 6 drivers, many of whom chose the vehicle for its environmental benefits, may feel added frustration over a safety matter in a relatively new EV platform.
Financially, the recall is expected to cost Hyundai millions in parts, labor and logistics, though the per-vehicle expense remains modest compared with more complex fixes such as battery or software updates.
The announcement triggered widespread media coverage Friday, with headlines emphasizing the large number of vehicles involved. Social media buzz focused on practical questions: “How do I know if my Santa Fe is affected?” and “Is it safe to drive until the repair?”
Safety organizations like the Insurance Institute for Highway Safety (IIHS) and Consumer Reports advised owners not to panic but to act promptly. Both groups have given high safety ratings to many of the recalled models when properly equipped and maintained.
As the recall process unfolds, NHTSA will monitor completion rates and any additional complaints. Owners who experience issues before receiving a notice can report them directly to the agency or their dealer.
Hyundai’s swift acknowledgment and planned remedy reflect lessons learned from past experiences. The company stated it remains committed to customer safety and vehicle quality across its expanding U.S. lineup.
In the meantime, millions of drivers continue their daily commutes in the affected models, relying on the very seat belts now under scrutiny. While the risk appears low in normal driving, the potential consequences in a collision justify the massive recall effort.
Owners with questions can contact Hyundai Customer Service at 1-800-633-5151 or Genesis at 1-844-340-4477. Detailed technical bulletins and repair instructions have been sent to all dealership service departments.
This latest development serves as a reminder that even modern vehicles with advanced safety features require vigilant maintenance and prompt attention to manufacturer notices. For the hundreds of thousands of Hyundai and Genesis customers impacted, a relatively straightforward dealer visit should restore full confidence in their vehicles’ protective systems.
Palantir CTO Shyam Sankar explains how Americans can leverage the use of AI, how the company helps the military and the outlook for the next quarter on ‘Varney & Co.’
More than two thousand years ago, Greek philosopher Heraclitus of Ephesus coined the phrase, “Change is the only constant.” That observation has remained true since his death, but now change is happening even faster, largely due to generative artificial intelligence (Gen-AI) technology such as ChatGPT or Claude. And that is making many workers even more anxious than usual. But there’s also some good news for people willing to learn.
“Change is always stressful,” Liz Bentley, a workplace and career consultant at Liz Bentley Associates in New York, told FOX Business. Britain’s Industrial Revolution in the 1700s was stressful, too. New industries put people out of work, but new jobs were created. “At the beginning of the Industrial Revolution, people didn’t know there would be new jobs,” she says. We now know the 1700s inventions, including steam trains and mechanical weaving, brought prosperity to the U.K. then to other economies.
AMAZON DISRUPTING ITSELF, REBUILDING CUSTOMER SHOPPING EXPERIENCE AROUND AI FROM GROUND UP
AI assistant apps on a smartphone – OpenAI ChatGPT, Google Gemini, and Anthropic Claude. (Getty Images / Getty Images)
Gen-AI is driving change to a new level. “It’s coming fast and furious,” Bentley says. “There are so many things that AI can usurp.” That’s making workers anxious in new ways. People don’t know what changes will happen in the workplace. “There’s a lack of predictability,” she says. Gen-AI is the branch of artificial intelligence that creates content rather than just analyzing data.
A few years ago, job losses were often due to employee performance. Now it’s frequently AI displacing the job. Data from Challenger, Gray and Christmas finds Gen-AI was directly involved in firing 54,000 people during 2025. The idea was to let AI handle repetitive work, such as data collection. It’s no wonder that approximately 30% of workers fear losing their jobs as AI agents take over, according to Bentley.
The job losses might sound ultra-scary to a lot of people. But the reality is that Gen-AI is here to stay, and there are plenty of reasons to stop worrying.
A General Motors worker is shown on the assembly line at the General Motors Lansing Delta Township Assembly Plant on February 21, 2020 in Lansing, Michigan. The plant, which employs over 2,500 workers, is home to the Chevrolet Traverse and Buick Enc (Bill Pugliano/Getty Images / Getty Images)
First, investors have put a boatload of money into making AI work. U.S. private and venture capital investments totaled $109 billion. Last year, similar investors plowed in another $194 billion. Put simply, these investors are betting heavily on the future of AI, and they wouldn’t be doing that unless they thought there was a solid future in it.
In the U.S., 28.3% of the working-age population used generative artificial intelligence, or approximately 3 out of every 10 workers in the second half of 2025, according to Microsoft’s AI Economy Institute. The U.S. was far ahead of the average global usage of 16.3% in the same period.
Business people at their desks in a busy, open-plan office. Startup business people working at a modern office. (iStock)
While AI has so far resulted in layoffs, it’s also created many new jobs that most of us would never have dreamed of. Last year, approximately 280,000 new jobs in Gen-AI were created for people, according to Electro IQ Job Creation Stats. Some of those jobs were for people involved in AI training, data analysis and Gen-AI ethics specialists.
Another positive is that humans working with AI agents are a lot more productive. The amount of work being done by humans assisted by Gen-AI has changed much, Bentley says. But more importantly, workers are now more productive. That’s particularly beneficial for people without advanced degrees or who lack experience, she says.
ASHBURN, VA – MAY 9: People walk through the hallways at Equinix Data Center in Ashburn, Virginia, on May 9, 2024. (Amanda Andrade-Rhoades for The Washington Post via Getty Images / Getty Images)
The most important trick in benefiting from these new roles seems to be a willingness to learn. “Those opportunities will include people who will embrace the new technology,” Jed Ellerbroek, a portfolio manager at Argent Capital in St. Louis, Missouri, told FOX Business. “And AI can make you a lot more creative.”
In part, that creativity comes to life because people working with AI need to do the thinking. Notably, that means critical thinking, which involves questioning answers and challenging perceived wisdom. “It requires a human being,” Ellerbroek says.
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Ellerbroek says the best way to start learning is to use free Gen-AI agents, such as the basic version of ChatGPT. With that basic knowledge, moving on to a paid version will then be easier. “It’s dramatically better,” he says. “You need to double-check the output.”
NEW YORK — Speculation is swirling around what could become the celebrity wedding of the decade as pop superstar Taylor Swift and Kansas City Chiefs tight end Travis Kelce prepare to tie the knot in 2026, with fresh reports indicating save-the-date cards have already gone out for a July 3 celebration in New York City.
The couple, who announced their engagement in August 2025 after a whirlwind romance that began in 2023, have kept planning tightly under wraps. Yet persistent rumors, insider leaks and recent media reports have painted a picture of an intimate yet glamorous midsummer affair. Here are 10 key things to know about the anticipated nuptials as details continue to shift and evolve.
- The Latest Reported Date: July 3 in the Big Apple Save-the-date invitations reportedly confirm the wedding for Friday, July 3, 2026, in New York City — a change from earlier speculation centered on June 13. The date falls just before the Fourth of July holiday weekend and aligns with Kelce’s NFL offseason schedule, allowing time before the Chiefs’ training camp begins around July 22. Sources told Page Six that the couple opted for Manhattan after earlier Rhode Island plans faced public scrutiny.
- Engagement Timeline and Proposal Swift and Kelce got engaged in August 2025, with Kelce popping the question in a private garden setting in the Kansas City area. The news broke publicly shortly afterward, sending fans and media into a frenzy. Swift, 36, and Kelce, also 36, have described their relationship as one filled with mutual support, with Swift crediting Kelce for bringing joy and confidence into her life during award show speeches.
- Rhode Island Rumors Debunked For months, reports pointed to a June 13 wedding — Swift’s lucky number 13 falling on a Saturday — at the luxurious Ocean House resort in Watch Hill, Rhode Island, near one of her waterfront properties. Celebrity wedding planner Tara Guérard publicly shut down those claims in early April 2026, stating she was handling a different wedding at the venue that day and that Swift was “not my bride.” The shift to New York appears driven by privacy concerns and guest logistics.
- Guest List Expectations Insiders suggest a relatively intimate gathering capped around 150 guests to maintain control and security. Expected attendees include Swift’s close friends such as Selena Gomez, Gigi Hadid and Emma Stone, as well as Kelce’s brother Jason Kelce and NFL teammates like Patrick Mahomes. Celebrity circles from music, film and sports are likely to mix, though the couple has prioritized privacy over a massive blowout.
- Bridal Party Rumors Speculation points to longtime confidantes filling key roles. Gigi Hadid and Selena Gomez are frequently mentioned as potential bridesmaids, while Jason Kelce could stand beside his brother as best man. Details remain unconfirmed, but Swift’s history of surrounding herself with a tight inner circle suggests a meaningful, low-drama party.
- Venue and Vibe in New York With Swift maintaining a residence in Tribeca, New York City offers familiarity and logistical advantages. Reports describe plans for a sophisticated, possibly 1950s-inspired aesthetic blending classic elegance with modern touches. The couple reportedly moved away from a seaside Rhode Island estate or private island option to accommodate more guests comfortably in Manhattan venues.
- Timing Tied to NFL Schedule Kelce has signaled plans to marry before the start of training camp, ensuring the couple can enjoy newlywed time without immediate football pressures. The July 3 date provides a buffer, allowing a potential honeymoon before the NFL season ramps up. ESPN reports from March 2026 reinforced that Kelce aims for a summer wedding to balance his career and personal life.
- Security and Privacy Measures Given Swift’s global superstardom and the couple’s high profile, extensive security is expected. Past experiences with fan attention and media leaks have prompted a cautious approach. Save-the-dates were reportedly sent discreetly, and the couple has avoided public comments on specifics, letting representatives and insiders control the narrative.
- Cultural and Fan Impact The wedding has already influenced trends, from engagement ring styles to summer 2026 bridal fashion. Swifties have analyzed every clue, from Swift’s “bridal era” outfits during New York outings to subtle social media hints. The event is poised to dominate headlines, social platforms and even pop culture conversations well beyond the ceremony itself.
- No Official Confirmation Yet Despite save-the-date reports and shifting venue rumors, neither Swift nor Kelce has issued an official statement. Representatives have remained silent, a strategy consistent with the couple’s preference for privacy amid intense public interest. Insiders emphasize that plans could still evolve, as celebrity weddings often do in response to leaks or scheduling needs.
Broader Context of the Relationship
Swift and Kelce’s romance captured imaginations from the start. Their first public connection came when Kelce attended one of Swift’s Eras Tour shows in 2023, leading to a high-profile pairing that blended music and sports worlds. The relationship has been marked by mutual appearances at games, award shows and private moments that fans have dissected endlessly.
At the 2026 iHeartRadio Music Awards, Swift publicly thanked Kelce during her acceptance speech, calling him a source of happiness and confidence. The couple’s engagement announcement only amplified the fairy-tale narrative, drawing comparisons to modern royalty.
Wedding industry experts note the pair’s story could inspire trends in 2026 nuptials, including blended celebrity-athlete guest lists, emphasis on meaningful dates and a balance between intimacy and spectacle. Some reports have even floated ideas of a 1950s-inspired theme, though those details remain unverified.
Challenges and Speculation
Media coverage has been relentless, with outlets like Page Six, People and Harper’s Bazaar tracking every rumored shift. The debunking of the Ocean House June 13 plans highlighted how quickly speculation can spread — and how easily it can be corrected by those directly involved.
Financially, the wedding is expected to carry a significant price tag, though Swift’s billionaire status makes cost secondary to creating a memorable, secure experience. Potential honeymoon destinations have been whispered about, ranging from international escapes to more low-key getaways, but nothing is confirmed.
For fans, the anticipation adds another layer to Swift’s already monumental year. With her music continuing to dominate charts and cultural conversations, the personal milestone represents a new chapter.
As July 3 approaches — or whenever the actual date lands — all eyes will remain on one of entertainment’s most watched couples. Whether the ceremony unfolds in New York with a star-studded yet intimate guest list or sees further adjustments, the union of Taylor Swift and Travis Kelce promises to be a defining celebrity moment of 2026.
The couple’s ability to maintain some privacy amid the spotlight has earned admiration from supporters who hope the day focuses on love rather than spectacle. In an era of constant sharing, Swift and Kelce’s measured approach stands out.
Whatever the final details, the story of their journey from a stadium suite connection to walking down the aisle has already written itself into pop culture history. Fans and followers will continue parsing clues until the couple decides to share more — or lets the photos and memories speak for themselves.
On Jim Continenza’s first day on the job as Eastman Kodak executive chairman in 2019, he got a call from a star Hollywood filmmaker telling him the company was making a big mistake.
The photography technology company was in the process of shutting down its acetate factory, which makes one of the key ingredients used in film. Christopher Nolan, the director behind major movies like “Inception” and “Oppenheimer,” urged Continenza to stop the process.
“He goes, ‘Do not turn this off. Please take a look.’ And I did,” Continenza, now CEO, told CNBC. “He was right. I started looking at it because I shoot 35 millimeter [film], and I’m like, ‘Why would one of the greatest directors of all time even have this conversation?’”
Continenza, a self-proclaimed “turnaround specialist,” said he quickly realized how central film was to Kodak’s roots, and how it could be one of its biggest strengths as he fought to bring the company back from teetering on the edge of bankruptcy.
Fast forward roughly seven years, and multiple 2026 Oscar-winning movies, including “One Battle After Another” and “Sinners,” were shot on Kodak film. It’s part of a bigger trend as the category sees a resurgence fueled by both a nostalgia for film in Hollywood and by younger consumers.
That road wasn’t smooth, though. The company declared bankruptcy in 2012 and reemerged a year later. Then it cautioned last year that its financial conditions “raise substantial doubt about Kodak’s ability to continue as a going concern.”
In the second-quarter earnings where it made that going concern statement, Kodak posted a 12% decrease in gross profit, with millions in debt obligations.
But Continenza said it was one step in a longer process toward rebuilding the company to its former success.
CEO of Kodak Jim Continenza speaks onstage during Kodak’s Film Awards at ASC Clubhouse on March 2, 2026 in Los Angeles, California.
Rodin Eckenroth | Getty Images
Last month, the company’s earnings report looked different. Its fourth-quarter gross profit reached $67 million, a 31% increase from the year prior. Kodak also said it had reduced its annual interest expense by roughly $40 million.
Continenza said at the time that the results were signs of the long-term plan he began executing in 2019. He told CNBC that he chose Kodak as his final company to revive before closing his chapter as a C-suite executive, having previously served in leadership roles at communication companies including AT&T and Lucent.
“Here’s what our goal is: We’re going to create jobs for the next generation. Make no mistake, we’re going to fix this company and put it on a stable foundation and put building blocks to grow all the systems,” Continenza said. “We didn’t put in what we need, we put in what we want, and that’s a difference.”
Troubled waters
In a digitally evolving society, Kodak has been fighting to keep its place and relevancy.
The company’s 2012 bankruptcy protection came after it failed to improve its finances as digital photography took off and revolutionized the industry. When it reemerged the following year as a smaller company, it shifted its primary focus to commercial printing.
Though it’s not a company that is largely covered by investors anymore, Melius Research analyst Ben Reitzes wrote in a note last year that the onset of digital technology posed a significant setback for Kodak.
“At the time, Kodak management told us that film would co-exist with digital cameras and more photos would be taken — and more would need to be printed by Kodak,” he wrote.
Still, Kodak faced its struggles. Its stock sank more than 35% in 2014, continuing to gradually fall over the next few years and hitting an all-time low of $1.55 per share during the onset of the pandemic in March 2020.
Last August, the more than 100-year-old photography company said it had roughly $155 million in cash and nearly $600 million in loans.
A Kodak spokesperson said at the time that the going concern language had to be included because Kodak did not have enough available liquidity to pay off its debt, due within 12 months. Still, the company said it was confident it would pay off a significant portion of that loan before it became due by terminating its pension plan and said the disclosure was just a required technical report.
Wall Street investors didn’t like what they heard. The stock plunged from a price of roughly $7 per share a few days prior to just over $5 per share on the day of earnings.
“We could have done a better job on it, because to us, it wasn’t as dire straits, it was more of a GAAP accounting coincidence by dates,” Continenza said, adding that it was a “timing issue” for the loans.
Rolls of Kodak Gold film hang on a shelf at the Precision Camera & Video store on Aug. 12, 2025 in Austin, Texas.
Brandon Bell | Getty Images
Continenza said Kodak’s main challenges were in its “huge tranches” of debt and a lack of communication with its shareholders and customers.
The CEO said he’s never sold a share of Kodak and instead bought stock after the company issued its going concern disclosure.
“You’ve got to put the work in and the long-term investments, and you’ve got to be methodical, but you’ve got to fix your operations, and I’ve spent seven years of doing it,” he said. “[It’s] a 130-plus year old company, right? You can imagine what’s in the attic.”
Defining success
Continenza said he’s been intentional about instituting long-term changes since he took over the company. He’s changed about 90% of the company’s leadership, paid off more than $400 million in debt and reorganized the company’s priorities to focus on print and advanced materials and chemicals.
He said it was also important to be “transparent” with his team and acknowledged that turning around the company would mean layoffs and staffing changes.
“First thing I always do is go out and get people who want to hold the company and buy them out, and that’s what we did,” he said. “I got a board and investors who love what we’re doing — we keep them informed, and they help guide us.”
As he examined what worked for the company, Continenza said he saw an opportunity with Generation Z and the resurgence of the film aesthetic. The look of photos and videos shot on film captures something that “penetrates your heart and soul,” he said.
Kodak leaned into the analog and authenticity trend, investing its resources in its film capacities and creating products that consumers, directors and filmmakers alike were interested in.
Continenza said he also refinanced the company three times and rightsized its balance sheet.
It seems to have hit the right note on Wall Street. Over the past year, Kodak’s stock has shot up nearly 100%.
Kodak 1-year chart
“We’re doing our job. The stock’s not supposed to spike, it’s supposed to crawl, because that’s how we grow,” he said. “I don’t look at our stock price. I don’t care. I couldn’t tell you what it is today. I’m a long-term investor.”
Continenza said success to him will mean continuing to improve finances and ensuring Kodak has a solid succession plan in place to continue its growth.
Though the company is well over 100 years old, he said he likes to treat Kodak as a startup, where all of the debt is paid off, the brand is well-loved and only Kodak itself could, at this point, “screw it up.”
“We don’t need to be a $5 billion or $20 billion or $80 billion company,” Continenza said. “We’re a billion-dollar global company, but one thing we have going for us is our brand recognition. And make no mistake, around the globe, it is endeared and loved, and it’ll continue to be.”
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LOS ANGELES — Luka Doncic’s availability for the 2026 NBA playoffs hangs in the balance after the Los Angeles Lakers star suffered a Grade 2 left hamstring strain, an injury that has sidelined him for the remainder of the regular season and cast uncertainty over his postseason participation.
The 27-year-old Slovenian superstar went down non-contact in the third quarter of a 139-96 loss to the Oklahoma City Thunder on April 2. An MRI confirmed the partial tear, prompting the Lakers to rule him out indefinitely while emphasizing caution with their cornerstone player.
With the regular season winding down and the playoffs scheduled to begin April 18, the clock is ticking. Typical recovery for a Grade 2 hamstring strain ranges from three to six weeks, with an average around 35 days according to injury analysts. That timeline suggests Doncic could miss the entire first round and potentially return in the second round at the earliest — if all goes optimally.
Doncic has not played since the Thunder game, missing the Lakers’ final stretch as the team jockeys for Western Conference positioning. Los Angeles has already secured a playoff berth, but the absence of their leading scorer and playmaker has exposed vulnerabilities, particularly with co-star Austin Reaves also sidelined for weeks with an oblique injury.
Seeking Accelerated Recovery in Europe
In a bid to expedite healing, Doncic traveled to Spain for specialized medical treatment, including an injection procedure aimed at promoting faster recovery. His agent, Bill Duffy, confirmed the move after consultations with Lakers doctors and Doncic’s personal medical team.
“Luka is doing everything he can to make it back out on the court,” sources close to the situation told reporters. The decision to seek treatment abroad reflects Doncic’s deep ties to Spain, where he played professionally as a teenager with Real Madrid, and his determination to contribute this postseason despite the setback.
Sports medicine experts offer mixed projections. Some physicians suggest that advanced interventions could potentially shorten the timeline to as little as two to three weeks in a best-case scenario, opening a narrow window for a first-round return. Others caution that Grade 2 strains often require four to six weeks minimum for safe return to high-level competition, citing risks of re-injury if rushed.
Dr. Jesse Morse and similar specialists have noted that while unconventional treatments may accelerate healing, hamstring injuries remain notoriously tricky due to the muscle’s role in explosive movements central to Doncic’s game — driving, step-backs and quick changes of direction.
Lakers coach JJ Redick has remained measured in public comments, stressing the organization’s priority on long-term health over short-term heroics. “We’re going to be very careful with Luka’s recovery,” Redick said. “He’s a cornerstone of this franchise.” General manager Rob Pelinka echoed that sentiment, highlighting the need for Doncic to be close to 100 percent before stepping back on the floor.
Impact on Lakers’ Playoff Hopes
The injury could not have come at a worse moment. Doncic had been enjoying one of his finest seasons, leading the NBA in scoring for much of the campaign and forming a potent partnership with LeBron James. His absence has forced James, now in his 23rd season, to shoulder even more responsibility alongside supporting cast members like Rui Hachimura, D’Angelo Russell and others.
Without Doncic, the Lakers have struggled in stretches, though their playoff qualification was never seriously in doubt. Still, seeding matters in a loaded Western Conference featuring the Thunder, Nuggets and other contenders. A lower seed could mean tougher early matchups, making a healthy Doncic even more critical.
Historical precedent offers little encouragement. Recent data on Grade 2 hamstring strains in the NBA shows players often miss significant time, and returns before full healing frequently lead to setbacks. One analysis indicated that returning too soon from such injuries can extend overall recovery by weeks.
LeBron James addressed the situation indirectly, noting the team’s resilience but acknowledging the obvious hole left by Doncic’s absence. James canceled a planned golf outing amid the injury concerns, underscoring the seriousness within the locker room.
What a Return Would Require
For Doncic to suit up in the playoffs, several factors must align: successful response to the European treatment, progressive rehabilitation milestones, cleared medical testing and no setbacks during ramp-up. Even then, he would likely need minutes restrictions initially and could require several games to regain rhythm.
The Lakers’ medical staff will monitor inflammation, strength testing and functional movement before clearing him. Any return would come with managed expectations — Doncic might not resemble his dominant self immediately, especially in a high-stakes playoff environment.
Playoff scheduling adds pressure. The play-in tournament runs April 14-17, with first-round games tipping off April 18. If the Lakers advance past the opening round, a potential second-round start in early May could fall within a more realistic recovery window under average timelines.
Doncic himself has expressed optimism privately, according to sources. The competitive fire that defined his rise from Ljubljana to NBA stardom — and his headline-making move to the Lakers — fuels his desire to contribute. Yet he and the team understand the risks of pushing through incomplete healing.
Broader Context in Lakers Season
This season marked a new chapter for the Lakers with Doncic’s arrival, blending his generational talent with James’ veteran leadership. The duo delivered highlight-reel moments and elevated expectations in Los Angeles. Injuries to key pieces, including this latest blow, have tested the roster’s depth.
Mavericks fans have watched with mixed emotions as their former franchise face battles injury in purple and gold. Dallas, meanwhile, missed the playoffs for a second straight year following the trade.
NBA analysts remain divided on the Lakers’ ceiling without Doncic. Some believe James and role players can navigate a first-round series against certain opponents. Others argue that facing elite defenses without the Slovenian star’s scoring and facilitation dramatically lowers their chances of a deep run.
As of April 11, no firm update has emerged from Spain beyond confirmation of ongoing treatment. The Lakers continue to provide minimal details, citing privacy and the fluid nature of recovery.
For a player who has carried heavy minutes and offensive load throughout his career, this hamstring issue serves as a reminder of physical limits. At 27, Doncic remains in his prime, but repeated stress on the lower body demands respect.
Looking Ahead
The coming days will bring more clarity as Doncic completes treatment and begins the next phase of rehab. Lakers fans, already enduring a roller-coaster season, cling to hope that their star can return in time to influence the postseason.
Whether Doncic appears in the first round, second round or later — or misses the playoffs entirely — remains unknown. What is clear is the organization’s commitment to a measured approach rather than risking long-term damage for immediate gratification.
As the NBA world turns its attention to the playoffs, all eyes remain on one question: Can Luka Doncic defy the typical hamstring recovery timeline and deliver “Luka Magic” when it matters most? The answer could define the Lakers’ 2026 postseason fate.
Jussi Askola is the President of Leonberg Capital, a value-oriented investment boutique that consults hedge funds, family offices, and private equity firms on REIT investing. He has authored award-winning academic papers on REIT investing, has passed all three CFA exams, and has built relationships with many top REIT executives.
He is the leader of the investing group High Yield Landlord, where he shares his real-money REIT portfolio and transactions in real-time. Features of the group include: three portfolios (core, retirement, international), buy/sell alerts, and a chat room with direct access to Jussi and his team of analysts to ask questions. Learn more.
Analyst’s Disclosure: I/we have a beneficial long position in the shares of CUBE; SILA; NNN either through stock ownership, options, or other derivatives. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.
Seeking Alpha’s Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.
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