Max Nisen is a Bloomberg Gadfly columnist covering biotech, pharma and health care. He previously wrote about management and corporate strategy for Quartz and Business Insider.

Good morning! This is Fly Charts, the daily charts-only newsletter from Gadfly; sign up here. From OPEC's struggles to Ukraine's bond-market return, here are four charts that tell you what you need to know in business today.

Risk, Eh
You know it's risk-on time in biotech when a failed trial sends a company’s shares up.
Source: Bloomberg
40 Is The New 40
OPEC's share of the global oil market has more or less held steady, but the cartel's power to influence prices has waned.
Source: Energy Information Administration
Note: Data for 2017 and 2018 are projections.
Red Hot
The IMF is the secret sauce for Ukraine's successful return to the international bond market.
Source: Bloomberg
Full Steam
The implementation of a bunch of restrictive new rules can't keep the CLO market down.
Source: Wells Fargo Securities

And don't miss Tim Culpan on the (possible) resolution of Toshiba's chip sale: "Toshiba has signed a memorandum of understanding with Bain and aims to reach a definitive agreement by the end of the month, Bloomberg reported Wednesday, citing a company statement. Skeptics will have their ears tuned for the dulcet sounds of the proverbial fat lady, while Foxconn Technology Group may have more forceful words to press its case."

This column does not necessarily reflect the opinion of Bloomberg LP and its owners.

To contact the author of this story:
Max Nisen in New York at

To contact the editor responsible for this story:
Mark Gongloff at