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Rising interest rates and a ‘talent war’ are dampening enthusiasm for the multi-manager strategy
...Nunes, a former Republican congressman, named four equities market makers in his letter: Citadel Securities, Virtu, Jane Street and G1 Execution Services....
...Triple-B [the lowest rung of IG] spreads are at about 120bp, whereas double-B high-yield is at 200bp. So you pick up 80bp from going from triple-B to double-B....
Best-performing managers’ punchy bets on stock markets paid off in 2023
...Google has agreed to pay C$100mn a year into a fund to support news organisations in Canada as part of a deal with the government, ending a dispute that led it to threaten to cut links to news from its services...
...But a statement amounting to “we will work harder on quality now” is not reassuring, though I am sure Boeing will work harder at it; everyone in the C-suite must now know they are one incident away from...
...Other bonds with triple C ratings were issued by cyber security groups McAfee, Cloud Software Group and healthcare services company LifePoint Health....
About the FT’s Ken Griffin interview
...Companies with double B or B plus debt ratings have received solid demand, while lower-rated single B and triple C rated companies have been forced to go to private credit lenders for financing....
...Qatar to make an investment purchase at Reliance Retail On Monday, Mukesh Ambani spun off his subsidiary Jio Financial Services — the first unit from his Reliance Industries empire to list in almost 20...
...More than half of single-B minus rated US companies would not be generating enough cash to cover their capital expenditure while servicing their debt by year-end, analysts at Moody’s project....
...(c) 1 LOB (“Services”) = almost all of Citi’s market cap....
...“A lot of callers feel like we should be a fourth emergency service,” Sarah said....
...Some of the hotel’s services can even be credited to its notable clientele and their rather high-maintenance demands....
...Traders are marking a riskier £250mn “class B” bond at little over 60 pence in the pound....
...These delays have meant that Kyiv has started looking at a “Plan B” and even a “Plan C”, Pidlasa said....
...We also lowered our local currency (LC) sovereign credit ratings on Cameroon to ‘CCC+/C’ from ‘B-/B’. The outlook on the LC long-term rating is stable....
...Google said that according to its calculations, the traffic it sends to Canadian publishers each year is worth C$250mn....
...(a) under a contract of employment, or(b) under any other contract whereby he undertakes to do or perform personally any work or services for another party to the contract who is not a professional client...
...a) 45 b) 35 c) 30 d) some 23-year-old intern who’s addicted to Love Island Should we advertise on GB News?...
...Rieder: I’d say it’s a B-. But it’s not a C. Why are you getting these sorts of yields in credit today? You’re getting them because the risk-free rate is so darn [high]....
...OK, but not yet, says the FCDO: This information is exempt from disclosure under Section 22 (1) (a, b and c) of the FOIA (2000)....
...This sum had risen sharply from C$1.12mn at the end of 2021 and represented 2.4 per cent of the funds’ combined assets of $107.5bn. The sums are listed as “receivables from the manager”....
...While King Street declined to comment on the performance numbers, Paul Goldschmid, partner and co-porfolio manager, said: “The debt market for sponsor-owned single B or triple C rated debt has generally...
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