Latest news with #DARTs
Globe and Mail
03-07-2025
- Business
- Globe and Mail
IBKR Stock Gains on Higher June DARTs: Should You Buy, Hold, or Sell?
Interactive Brokers Group, Inc. IBKR reported a rise in its client Daily Average Revenue Trades (DARTs) on a year-over-year basis for June 2025. In light of this, shares of the company rose 3.4% in yesterday's trading session. Total client DARTs for June were 3,448,000, representing a 39.7% increase from June 2024. This was primarily driven by higher net new accounts and options trading, partially offset by lower futures trading. Interactive Brokers has been benefiting from heightened market volatility and a rise in client activity on the back of tariff concerns and increasing geopolitical risks. Likewise, Charles Schwab SCHW and Tradeweb TW are also likely to have recorded a rise in new account openings and trading volume for June 2025. The momentum is expected to continue as markets and investors try to decipher the impact of tariffs on various sectors. Thus, IBKR will likely keep witnessing a rise in total client DARTs. Factors Supporting Interactive Brokers Global Exposure Through Product Diversification: IBKR has been taking several steps to enhance its presence globally. In May, the company extended trading hours for its Forecast Contracts to about 24 hours a day, which will boost its trading income. This move comes nearly a month after it launched Forecast Contracts in Canada, allowing investors to trade on the outcomes of several events impacting markets. In February, the company announced the expansion of its offering of Stocks and Shares Investment Savings Accounts with the addition of mutual funds in the U.K. This allows investors to access a wide range of investment products in a tax-efficient savings vehicle. It also offers advanced trading platforms, low fees and global diversification. Last November, IBKR launched Plan d'Epargne en Actions accounts to boost its offerings for its French clients. Also, the launch of IBKR GlobalTrader has enabled investors worldwide to trade stocks through mobile applications. The company was one of the first brokers to introduce Overnight Trading on U.S. stocks and exchange-traded funds (ETFs) nearly 24 hours a day, five days a week. IBKR Lite has enabled investors to trade commission-free. Further, it launched cryptocurrency trading via Paxos Trust Company, charging lower commissions compared to other crypto exchanges. The introduction of IBKR Desktop, the next-generation desktop trading application for Windows and Mac, marks a new chapter for innovation. The company's technological superiority, combined with easier regulations to improve product velocity, will support its net revenues through higher client acquisitions. Technological Excellence: Interactive Brokers' technological superiority remains one of its strongest aspects. The company processes trades in stocks, futures, options and forex on more than 150 exchanges across several countries and currencies. IBKR's compensation expense relative to net revenues (10.8% in the first quarter of 2025) remains below its industry peers due to its superior technology. Further, the company has been emphasizing developing proprietary software to automate broker-dealer functions, leading to a steady rise in revenues. Total net revenues witnessed a compound annual growth rate (CAGR) of 21.8% over the last five years (2019-2024). The momentum continued in the first three months of 2025. Net revenues are expected to improve further in the quarters ahead, given the solid DART numbers and robust trading backdrop driven by higher market participation. IBKR's Sales Estimates IBKR Shares are Undervalued IBKR shares appear inexpensive relative to the industry. The company is currently trading at a 12-month trailing price-to-tangible book (P/TB) of 1.46X, well below the industry's 2.87X. Price-to-Tangible Book Ratio (TTM) Also, IBKR stock is trading below its peers, Tradeweb and Schwab. At present, TradeWeb and Schwab's 12-month trailing P/TB TTM are 13.85X and 8.02X, respectively. From a valuation perspective, Interactive Brokers shares present a compelling buying opportunity. Parting Thoughts on Interactive Brokers Stock Shares of Interactive Brokers have risen 31.8% this year, outperforming the industry, the Zacks Finance sector and the S&P 500 index. Its close peers, Schwab and TradeWeb, gained 23.4% and 5.9%, respectively, in the same time frame. IBKR YTD Price Performance Image Source: Zacks Investment Research Over the past month, the Zacks Consensus Estimate for 2025 and 2026 earnings has remained unchanged at $1.76 and $1.89, respectively. Estimate Revision Trend Image Source: Zacks Investment Research The projected figures imply stable earnings for 2025 and a rise of 7% for 2026. (Find the latest EPS estimates and surprises on Zacks Earnings Calendar.) Interactive Brokers remains well-positioned for growth in the current volatile operating environment. Also, rapidly evolving trends will benefit the company's revenues and expand its market share. The company's strong technological capabilities and diversified product offerings enhance its global reach, supporting long-term growth. Undervalued shares are another positive. However, Interactive Brokers has witnessed a persistent rise in non-interest expenses over the past few years. Expenses witnessed a CAGR of 13.8% over the five years ended 2024, with the trend persisting in the first quarter of 2025. These are likely to remain elevated due to continued investment in franchises, product launches and technology upgrades. Moreover, the company generates a large portion of its revenues (almost 37% of total net revenues in the first quarter of 2025) from overseas operations. Rising geopolitical risks, foreign exchange fluctuations and tariff concerns are likely to subdue global growth prospects. Additionally, as market volatility and client activity normalize gradually, Interactive Brokers is likely to experience a deceleration in trading volume, which will negatively impact DARTs and the top line. Given these concerns, those who own IBKR stock can sell it now and book profits. At present, IBKR carries a Zacks Rank #4 (Sell). You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here. 5 Stocks Set to Double Each was handpicked by a Zacks expert as the #1 favorite stock to gain +100% or more in the coming year. While not all picks can be winners, previous recommendations have soared +112%, +171%, +209% and +232%. Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor. Today, See These 5 Potential Home Runs >> Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report The Charles Schwab Corporation (SCHW): Free Stock Analysis Report Interactive Brokers Group, Inc. (IBKR): Free Stock Analysis Report Tradeweb Markets Inc. (TW): Free Stock Analysis Report
Yahoo
01-07-2025
- Business
- Yahoo
Interactive Brokers Group Reports Brokerage Metrics and Other Financial Information for June 2025, includes Reg.-NMS Execution Statistics
GREENWICH, Conn., July 01, 2025--(BUSINESS WIRE)--Interactive Brokers Group, Inc. (Nasdaq: IBKR) an automated global electronic broker, today reported its Electronic Brokerage monthly performance metrics for highlights for the month included: 3.448 million Daily Average Revenue Trades (DARTs)1, 40% higher than prior year and 2% higher than prior month. Ending client equity of $664.6 billion, 34% higher than prior year and 6% higher than prior month. Ending client margin loan balances of $65.1 billion, 18% higher than prior year and 6% higher than prior month. Ending client credit balances of $143.7 billion, including $5.8 billion in insured bank deposit sweeps2, 34% higher than prior year and 7% higher than prior month. 3.866 million client accounts, 32% higher than prior year and 2% higher than prior month. 195 annualized average cleared DARTs1 per client account. Average commission per cleared Commissionable Order3 of $2.54 including exchange, clearing and regulatory fees. Key products: June 2025 Average Average Commission per Order Size Cleared Commissionable Order Stocks 941 shares $1.86 Equity Options 6.1 contracts $3.59 Futures 2.9 contracts $4.04 Futures include options on futures. We estimate exchange, clearing and regulatory fees to be 58% of the futures commissions. Other financial information for Interactive Brokers Group: Mark to market on U.S. governmental securities portfolio4 was a gain of $324,000 for the quarter ended June 30th. GLOBAL5: The value of the GLOBAL, reported in U.S. dollars, increased by 0.61% in June and increased by 2.380% for the year to date. In the interest of transparency, we quantify our IBKR PRO clients' all-in cost of trade execution below. For the full multimedia release with graph see link: Average U.S. Reg-NMS stock trade was $20,123 in June (dividing 2c by 1a in table below). In June, IBKR PRO clients' total cost of executing and clearing U.S. Reg.-NMS stocks through IB was about 2.6 basis points of trade money6, as, measured against a daily VWAP7 benchmark (3.6 basis points net cost for the rolling twelve months). IBKR PRO Clients' Reg.-NMS Stock Trading Expense Detail All amounts are in millions, except % Previous Jul '24 Aug '24 Sep '24 Oct '24 Nov '24 Dec '24 Jan '25 Feb '25 Mar '25 Apr '25 May '25 June '25 12 Months #1a - Number of orders Buys 10.09 9.84 8.38 10.93 11.40 13.32 12.74 12.40 12.19 13.79 12.15 12.36 139.59 Sells 7.55 7.53 6.54 8.33 8.62 9.66 8.97 9.08 8.71 10.16 9.49 9.57 104.21 Total 17.64 17.37 14.92 19.26 20.02 22.98 21.71 21.48 20.90 23.95 21.65 21.94 243.80 #1b - Number of shares purchased or sold Shares bought 3,855 4,154 3,614 4,645 4,744 5,517 5,223 4,946 5,047 6,008 5,659 5,422 58,833 Shares sold 3,767 3,960 3,436 4,390 4,497 5,232 4,868 4,738 4,804 5,850 5,212 5,100 55,853 Total 7,622 8,114 7,050 9,035 9,241 10,749 10,090 9,683 9,851 11,858 10,871 10,522 114,686 #2 - Trade money including price, commissions and fees 2a Buy money $189,920 $182,908 $155,758 $190,627 $204,300 $214,806 $208,418 $200,026 $216,767 $254,062 $222,977 $222,050 $2,462,619 2b Sell money $191,745 $186,274 $154,825 $188,444 $201,932 $215,520 $203,359 $204,689 $218,670 $259,783 $219,486 $219,444 $2,464,171 2c Total $381,664 $369,182 $310,583 $379,071 $406,232 $430,326 $411,778 $404,715 $435,437 $513,845 $442,463 $441,494 $4,926,789 #3 - Trade value at Daily VWAP 3a Buy value $189,851 $182,849 $155,692 $190,537 $204,249 $214,660 $208,258 $199,957 $216,676 $254,052 $223,005 $222,033 $2,461,818 3b Sell value $191,812 $186,440 $154,890 $188,493 $201,995 $215,621 $203,305 $204,744 $218,725 $259,985 $219,608 $219,540 $2,465,160 3c Total $381,663 $369,289 $310,582 $379,030 $406,243 $430,281 $411,563 $404,702 $435,401 $514,038 $442,613 $441,573 $4,926,979 #4 - Total trade expense, including commissions and fees, relative to Daily VWAP 4a Buys (2a-3a) $68.8 $58.6 $66.6 $90.7 $51.4 $145.7 $160.6 $68.5 $90.6 $9.6 ($28.0) $17.0 $800.1 4b Sells (3b-2b) $67.5 $166.0 $65.7 $49.6 $62.3 $100.9 ($54.3) $55.2 $55.2 $202.8 $122.0 $96.5 $989.5 4c Total trade expense $136.3 $224.6 $132.3 $140.3 $113.8 $246.6 $106.4 $123.7 $145.8 $212.4 $94.0 $113.5 $1,789.5 Trade expense as percentage of trade money 4c/2c 0.036% 0.061% 0.043% 0.037% 0.028% 0.057% 0.026% 0.031% 0.033% 0.041% 0.021% 0.026% 0.036% #5 - Trade expense categories 5a Total commissions & fees $37.1 $38.1 $33.2 $41.9 $43.5 $47.4 $46.2 $45.5 $45.7 $52.7 $44.5 $41.5 $517.3 5b Execution cost (4c-5a) $99.2 $186.5 $99.1 $98.4 $70.3 $199.2 $60.2 $78.2 $100.0 $159.7 $49.5 $72.0 $1,272.3 #6 - Trade expense categories as percentage of trade money Total commissions & fees (5a/2c) 0.010% 0.010% 0.011% 0.011% 0.011% 0.011% 0.011% 0.011% 0.010% 0.010% 0.010% 0.010% 0.010% Execution cost (5b/2c) 0.026% 0.051% 0.032% 0.026% 0.017% 0.046% 0.015% 0.020% 0.023% 0.031% 0.011% 0.016% 0.026% Net Expense to IB Clients 0.036% 0.061% 0.043% 0.037% 0.028% 0.057% 0.026% 0.031% 0.033% 0.041% 0.021% 0.026% 0.036% The above illustrates that the rolling twelve months' average all-in cost of an IBKR PRO client U.S. Reg.-NMS stock trade was 3.6 basis points. ________________ Note 1: Daily Average Revenue Trades (DARTs) – customer orders divided by the number of trading days in the period. Note 2: FDIC insured client bank deposit sweep program balances with participating banks. These deposits are not reported in the Company's statement of financial condition. Note 3: Commissionable Order – a customer order that generates commissions. Note 4: Mark to market gains and losses on investments in U.S. government securities and associated hedges are included in Other Income. In the general course of business, we hold these investments to maturity. As a result, accumulated mark to market gains or losses should converge to zero at maturity. Accounting conventions require broker-dealers, unlike banks, to mark all investments to market. Note 5: In connection with our currency diversification strategy, we have determined to base our net worth in GLOBALs, a basket of 10 major currencies in which we hold our equity. The total effect of the currency diversification strategy is reported in Comprehensive Income and the components are reported in (1) Other Income and (2) Other Comprehensive Income ("OCI") on the balance sheet. The effect of the GLOBAL on our comprehensive income can be estimated by multiplying the total equity for the period by the change in the U.S. dollar value of the GLOBAL during the same period. Note 6: Trade money is the total amount of money clients spent or received, including all commissions and fees. Note 7: Consistent with the clients' trading activity, the computed VWAP benchmark includes extended trading hours. _________________ More information, including historical results for each of the above metrics, can be found on the investor relations page of the Company's corporate web site, About Interactive Brokers Group, Inc.:Interactive Brokers Group affiliates provide automated trade execution and custody of securities, commodities, foreign exchange, and forecast contracts around the clock on over 160 markets in numerous countries and currencies, from a single unified platform to clients worldwide. We serve individual investors, hedge funds, proprietary trading groups, financial advisors and introducing brokers. Our four decades of focus on technology and automation has enabled us to equip our clients with a uniquely sophisticated platform to manage their investment portfolios. We strive to provide our clients with advantageous execution prices and trading, risk and portfolio management tools, research facilities and investment products, all at low or no cost, positioning them to achieve superior returns on investments. Interactive Brokers has consistently earned recognition as a top broker, garnering multiple awards and accolades from respected industry sources such as Barron's, Investopedia, and many others. Cautionary Note Regarding Forward-Looking Statements:The foregoing information contains certain forward-looking statements that reflect the company's current views with respect to certain current and future events and financial performance. These forward-looking statements are and will be, as the case may be, subject to many risks, uncertainties and factors relating to the company's operations and business environment which may cause the company's actual results to be materially different from any future results, expressed or implied, in these forward-looking statements. Any forward-looking statements in this release are based upon information available to the company on the date of this release. The company does not undertake to publicly update or revise its forward-looking statements even if experience or future changes make it clear that any statements expressed or implied therein will not be realized. Additional information on risk factors that could potentially affect the company's financial results may be found in the company's filings with the Securities and Exchange Commission. View source version on Contacts Contacts for Interactive Brokers Group, Inc.: media@ Sign in to access your portfolio
Globe and Mail
12-06-2025
- Business
- Globe and Mail
HOOD's May 2025 DARTs Rise Y/Y: Is Product Expansion a Catalyst?
Robinhood Markets, Inc. HOOD has released the monthly operating data for May 2025. It reported a rise in equity, options, and crypto Daily Average Revenue Trades (DARTs) from the year-ago period. The data excludes Bitstamp, which was acquired on June 2, 2025. Equity DARTs in May were 2.3 million, which increased 15% from the prior year quarter. Options DARTs rose 50% year over year to 1.2 million. Crypto DARTs increased 66.7% from the prior year quarter to 0.5 million. This reflects Robinhood's efforts to become a leader in the active trader market through strengthening its market share. The company has been diversifying its offerings to capitalize on investor demands. HOOD has launched several initiatives to attract more clients and strengthen its market share. Last month, it launched Robinhood Legend in the U.K. In March 2025, the company introduced Robinhood Strategies, Robinhood Banking, and Robinhood Cortex to boost wealth management offerings and the prediction markets hub. Also, in February 2025, it launched options trading in the U.K, while in January, the company launched Futures. In October 2024, the company launched Index Options and Robinhood Legend to focus on web traders. In March 2024, it launched the Robinhood Gold Card for its Robinhood Gold customers, venturing into the credit card space. Thus, rapid product innovation through vertical integration will likely continue to expand the company's client base, enabling an improvement in transaction-based revenues. The metric witnessed a compound annual growth rate (CAGR) of 36.7% over the last five years ended 2024, primarily driven by options and equities trading. The uptrend continued in the first quarter of 2025. Competitors Scaling Up to Challenge Robinhood HOOD's key competitors, Interactive Brokers IBKR and TradeWeb Markets Inc. TW, have been rolling out products to bolster their market share. Interactive Brokers also witnessed a rise in May 2025 DARTs on a year-over-year basis, attributed to its evolving product suite. Last month, Interactive Brokers extended the trading hours for Forecast Contracts to about 24 hours a day. Further, in April, it added two new cryptocurrency tokens to its trading platform. TradeWeb launched electronic portfolio trading for European government bonds, spanning UK Gilts, EUR, and single currency notes. Tradeweb was also the first platform to launch portfolio trading for corporate bonds in 2019. Robinhood's Price Performance, Valuation and Estimate Analysis Shares of Robinhood have jumped 101% so far this year compared with the industry 's growth of 9.4%. Image Source: Zacks Investment Research From a valuation standpoint, HOOD trades at a forward price-to-earnings ratio of 56.09, well above the industry. Image Source: Zacks Investment Research The Zacks Consensus Estimate for Robinhood's 2025 and 2026 earnings indicates year-over-year growth of 12.8% and 21.3%, respectively. Over the past week, earnings estimates for both years have been revised upward. Robinhood currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here. 5 Stocks Set to Double Each was handpicked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2024. While not all picks can be winners, previous recommendations have soared +143.0%, +175.9%, +498.3% and +673.0%. Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor. Today, See These 5 Potential Home Runs >> Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Interactive Brokers Group, Inc. (IBKR): Free Stock Analysis Report Tradeweb Markets Inc. (TW): Free Stock Analysis Report Robinhood Markets, Inc. (HOOD): Free Stock Analysis Report
Telegraph
10-04-2025
- Health
- Telegraph
Disease stalks survivors of Myanmar's earthquake
When the earthquake hit central Myanmar, Ko Ye Ko grabbed his children and sprinted downstairs as his apartment tumbled into little more than a pile of rubble. With nowhere else to go, the family cobbled together a makeshift shelter on the side of the road. But within a week, that was gone too. 'The wind and rain were so strong that our little tent got completely blown away,' the 42-year-old father-of-two told the Telegraph. 'My whole family had to climb into our car but even there, the wind was shaking the vehicle violently. [Yet] we had no choice.' In the last week, heavy rains and 40C heat have worsened an already grim situation in conflict- ridden Myanmar, where a 7.7 magnitude earthquake struck on March 28. At least 3,500 people died, though rescuers warn thousands more are likely entombed inside their homes, offices, temples and mosques. But there are fears that another wave of death is also on the horizon. Survivors have limited access to clean water, food, shelter or medical help, while the hot, wet conditions in the ruined streets and makeshift displacement camps are ripe for outbreaks of diseases. 'Inside the car, the mosquitoes were biting us badly and we're afraid of getting dengue fever,' said Ko Ye Ko, referring to the debilitating disease sometimes called 'breakbone fever'. Daw San Yee, who lost her son when the mosque he was praying in collapsed in the earthquake, said the fear of cholera has become overwhelming in Sagaing – where locals estimate 80 per cent of buildings were flattened. 'Our tents are soaked, and there's no dry place to sleep – kids and older people are starting to get sick,' she said. 'The lack of water and toilets is a big concern… we've heard about cases of watery diarrhea spreading, probably from dirty water. If it turns into a full outbreak, it'll be really hard to stop.' The World Health Organization (WHO) has confirmed that their fears are not unfounded: clusters of acute watery diarrhea have already been detected in Sagaing and Mandalay. 'Without proper shelter and sanitation, the spread of illness and disease is inevitable,' said Madara Hettiarrachchi, director of programmes for the UK Disasters Emergency Committee. 'The levels of need are huge and growing, and with [the] monsoon season just a few weeks away there really is no time to waste.' Yet so far, getting aid on the ground has been hampered by the military regime, and a conspicuous absence in the relief effort: America. The disaster hit as the US foreign aid apparatus went into turmoil following sweeping cuts and a chaotic reorganisation ordered by Donald Trump and Elon Musk. 'There are no US rescue teams on the ground, and no real US role in the response,' said one international aid worker, who requested anonymity to speak more freely. 'That is very, very impactful.' When a crisis hits, the US would usually deploy Disaster Assistance Response Teams (DARTs) made up of rescue workers with sniffer dogs and specialist equipment within hours, in a race to pull people from the rubble in the immediate aftermath. They would then send in teams to help assess the damage and respond to long term challenges. In 2023, when a 7.9 magnitude quake hit Turkey and Syria, two military flights with personnel were en-route within 24 hours, before 225 staff were deployed in an assessment team. Instead when the Myanmar earthquake hit, only 78 people remained at USAID's Bureau for Humanitarian Assistance. Three people were deployed to help the longer-term response – but just days after they reached Mandalay, they were fired over email in the latest round of terminations from the Trump administration, according to the New York Times. 'The demise of USAID is evident from the rather slow US response and the small initial pledge of $2 million,' said Richard Horsey, a Myanmar researcher at the Crisis Group think tank, noting that this was followed by another $7 million on April 5. He added: 'The US has among the best search and rescue capability globally, but this was not deployed. The fact that a large contingent of Chinese rescuers was on the ground quickly shows what a loss this is for the US in soft power terms.' Some 135 search and rescue personnel from China, an ally of Myanmar's junta, were sent to the epicentre of the crisis, along with $13.8m in aid. Russia, Hong Kong and India were also on the ground within days. Other countries have also funnelled help into the country – including £10 million from the British government, and £15 million raised through the UK disaster emergency committee appeal. Most of this has gone to local NGOs on the ground, to avoid giving money through the military regime. But America's aid turmoil has also trickled down to these same NGOs. Before Trump's cuts the US had been one of the largest financial backers of humanitarian groups working inside Myanmar. 'Partners are stretched,' the aid worker told the Telegraph. '[They are] in cost-cutting mode, [so it is] harder to adapt and mobilise. [And] partners don't have any contingency budget because they've had to re-program everything to cover critical gaps.' Mr Horsey added: 'The bigger gap will be in the expertise and financing that the US would have traditionally brought to the relief effort. With other donors tightening their belts, it will be impossible to fill that gap. 'This goes beyond Myanmar, which just happens to be the first major natural disaster after the decimation of USAID. So this speaks to a soft power loss not just in this particular case, but across the board,' Mr Horsey said. Earlier this week Marco Rubio, the US Secretary of State, defended his country's response, insisting the US was 'not the government of the world' when asked by the BBC why it has not sent more help. 'There's a lot of other rich countries in the world, they should all be pitching in,' he said. 'We'll help as much as we can [but] it's not the easiest place to work… they have a military junta that doesn't like us.' Despite declaring a ceasefire, the junta has continued airstrikes, and the UN has accused the regime of blocking supplies into opposition held territory and maintaining internet blackouts that hamper logistics. In the capital Naypyidaw, aid workers also told the Telegraph they've seen 'ants swarming over aid supplies' as the junta lacks the logistical capacity and expertise to store or distribute them effectively. For many in the worst-hit areas, there is now a sense that staying alive, avoiding disease and rebuilding their communities is up to them. 'Right now, there's no government that actually cares about our well-being,' said Daw San Yee. 'So we're just doing our best with what we know to keep people from getting sicker.' Protect yourself and your family by learning more about Global Health Security
Yahoo
10-04-2025
- Health
- Yahoo
Disease stalks survivors of Myanmar's earthquake
When the earthquake hit central Myanmar, Ko Ye Ko grabbed his children and sprinted downstairs as his apartment tumbled into little more than a pile of rubble. With nowhere else to go, the family cobbled together a makeshift shelter on the side of the road. But within a week, that was gone too. 'The wind and rain were so strong that our little tent got completely blown away,' the 42-year-old father-of-two told the Telegraph. 'My whole family had to climb into our car but even there, the wind was shaking the vehicle violently. [Yet] we had no choice.' In the last week, heavy rains and 40C heat have worsened an already grim situation in conflict- ridden Myanmar, where a 7.7 magnitude earthquake struck on March 28. At least 3,500 people died, though rescuers warn thousands more are likely entombed inside their homes, offices, temples and mosques. But there are fears that another wave of death is also on the horizon. Survivors have limited access to clean water, food, shelter or medical help, while the hot, wet conditions in the ruined streets and makeshift displacement camps are ripe for outbreaks of diseases. 'Inside the car, the mosquitoes were biting us badly and we're afraid of getting dengue fever,' said Ko Ye Ko, referring to the debilitating disease sometimes called 'breakbone fever'. Daw San Yee, who lost her son when the mosque he was praying in collapsed in the earthquake, said the fear of cholera has become overwhelming in Sagaing – where locals estimate 80 per cent of buildings were flattened. 'Our tents are soaked, and there's no dry place to sleep – kids and older people are starting to get sick,' she said. 'The lack of water and toilets is a big concern… we've heard about cases of watery diarrhea spreading, probably from dirty water. If it turns into a full outbreak, it'll be really hard to stop.' The World Health Organization (WHO) has confirmed that their fears are not unfounded: clusters of acute watery diarrhea have already been detected in Sagaing and Mandalay. 'Without proper shelter and sanitation, the spread of illness and disease is inevitable,' said Madara Hettiarrachchi, director of programmes for the UK Disasters Emergency Committee. 'The levels of need are huge and growing, and with [the] monsoon season just a few weeks away there really is no time to waste.' Yet so far, getting aid on the ground has been hampered by the military regime, and a conspicuous absence in the relief effort: America. The disaster hit as the US foreign aid apparatus went into turmoil following sweeping cuts and a chaotic reorganisation ordered by Donald Trump and Elon Musk. 'There are no US rescue teams on the ground, and no real US role in the response,' said one international aid worker, who requested anonymity to speak more freely. 'That is very, very impactful.' When a crisis hits, the US would usually deploy Disaster Assistance Response Teams (DARTs) made up of rescue workers with sniffer dogs and specialist equipment within hours, in a race to pull people from the rubble in the immediate aftermath. They would then send in teams to help assess the damage and respond to long term challenges. In 2023, when a 7.9 magnitude quake hit Turkey and Syria, two military flights with personnel were en-route within 24 hours, before 225 staff were deployed in an assessment team. Instead when the Myanmar earthquake hit, only 78 people remained at USAID's Bureau for Humanitarian Assistance. Three people were deployed to help the longer-term response – but just days after they reached Mandalay, they were fired over email in the latest round of terminations from the Trump administration, according to the New York Times. 'The demise of USAID is evident from the rather slow US response and the small initial pledge of $2 million,' said Richard Horsey, a Myanmar researcher at the Crisis Group think tank, noting that this was followed by another $7 million on April 5. He added: 'The US has among the best search and rescue capability globally, but this was not deployed. The fact that a large contingent of Chinese rescuers was on the ground quickly shows what a loss this is for the US in soft power terms.' Some 135 search and rescue personnel from China, an ally of Myanmar's junta, were sent to the epicentre of the crisis, along with $13.8m in aid. Russia, Hong Kong and India were also on the ground within days. Other countries have also funnelled help into the country – including £10 million from the British government, and £15 million raised through the UK disaster emergency committee appeal. Most of this has gone to local NGOs on the ground, to avoid giving money through the military regime. But America's aid turmoil has also trickled down to these same NGOs. Before Trump's cuts the US had been one of the largest financial backers of humanitarian groups working inside Myanmar. 'Partners are stretched,' the aid worker told the Telegraph. '[They are] in cost-cutting mode, [so it is] harder to adapt and mobilise. [And] partners don't have any contingency budget because they've had to re-program everything to cover critical gaps.' Mr Horsey added: 'The bigger gap will be in the expertise and financing that the US would have traditionally brought to the relief effort. With other donors tightening their belts, it will be impossible to fill that gap. 'This goes beyond Myanmar, which just happens to be the first major natural disaster after the decimation of USAID. So this speaks to a soft power loss not just in this particular case, but across the board,' Mr Horsey said. Earlier this week Marco Rubio, the US Secretary of State, defended his country's response, insisting the US was 'not the government of the world' when asked by the BBC why it has not sent more help. 'There's a lot of other rich countries in the world, they should all be pitching in,' he said. 'We'll help as much as we can [but] it's not the easiest place to work… they have a military junta that doesn't like us.' Despite declaring a ceasefire, the junta has continued airstrikes, and the UN has accused the regime of blocking supplies into opposition held territory and maintaining internet blackouts that hamper logistics. In the capital Naypyidaw, aid workers also told the Telegraph they've seen 'ants swarming over aid supplies' as the junta lacks the logistical capacity and expertise to store or distribute them effectively. For many in the worst-hit areas, there is now a sense that staying alive, avoiding disease and rebuilding their communities is up to them. 'Right now, there's no government that actually cares about our well-being,' said Daw San Yee. 'So we're just doing our best with what we know to keep people from getting sicker.' Protect yourself and your family by learning more about Global Health Security Broaden your horizons with award-winning British journalism. Try The Telegraph free for 1 month with unlimited access to our award-winning website, exclusive app, money-saving offers and more.
