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...But the $900bn-plus Canadian-investment manager is likely to inject further capital into its funds, just as it does with Oaktree....
...Then came a private credit fund....
...Market makers and brokers need capital and credit to cover the gross sum of their risks so they need to borrow money and have something of quality as collateral....
...Meanwhile, there are signs of trouble in US credit cards, where delinquency rates have surged....
...What returns to expect from private credit Should M&A return, it could well energise an already frenetic corner of finance: private credit....
...The move by Fitch, which maintained the country’s A plus credit rating, follows a similar outlook downgrade from rival Moody’s Ratings in December....
...(Ethan Wu) Replies on private credit excess returns Yesterday’s piece about excess returns in private credit drew a lot of meaty responses from readers, from all sides of the debate....
...The lack of deals and an avalanche of money that has poured into credit markets is beginning to relieve headaches across the private equity world....
Plus, updates on Ripple and the UK’s crypto ambitions
...In the pre-2008 world of “reserve scarcity”, the Fed influenced credit conditions by tweaking the (low) supply of reserves in the overnight federal funds market....
...But it is department stores, rather than lenders, that may have most to lose as the credit cycle sours. The biggest of these — Macy’s, Nordstrom and Kohl’s — do not own their credit card portfolios....
...And there are few hotter fads in finance today than private credit. What artificial intelligence is to tech, private credit is to Wall Street....
...In December, for the first time, a proposed loan secured against the small shops’ payments was given a preliminary “A” grade credit rating....
...Other stories that have been keeping us busy this week: Credit companies are having their day in the sun....
...Bond yields have “come down enough from their peak that we see demand [from companies and households] for credit going forward”....
...The structure of the bonds means investors receive their principal back at the end of the seven-year term, guaranteed by the World Bank, plus a minimum interest payment of 1.75 per cent....
...The ratings group late on Friday upgraded Turkey’s rating to B-plus from B, leaving it lodged deep in speculative, or “junk”, territory....
Plus, Unilever’s love for ice cream melts and European investment bank bonuses drop more than US
...One contributing factor, according to our reporters Stephen Gandel and Patrick Mathurin, is mounting credit card debt in the US....
...They can also charge different prices to consumers based on which credit card they use. Credit card holders accustomed to fancy perks are in for a rude awakening....
...Less than a year after Credit Suisse finally succumbed following a decade of crises, Switzerland has a new scandal-hit lender....
...Fitch Ratings on Friday affirmed a double A plus credit rating for the US, touting its strong economy while warning that rising deficits and budget stand-offs that led to its rating being cut in August are...
...Smart reads Flawed valuations Fund managers in the private credit industry are often valuing their loans more generously than others do. Regulators are starting to worry, Bloomberg reports....
...He previously worked at UBS and Credit Suisse. Deutsche Bank has promoted William Mansfield to head of Emea mergers and acquisitions....
...Plus, any sale needs the Kremlin’s approval. The ‘existential’ need for deals US banks are welcoming the return of dealmaking with open arms....
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