Hints and tips:
...Its new fund — known as Strategic Investment Partners V — plans to buy risky debt, including junior loans and convertible bonds, as well as preferred stock....
...However, even more interesting (and counter-intuitive) is Rogoff et al’s failure to find a statistical correlation between real rates and fundamental economic trends....
...Morgan Stanley will also be relieved that the probe doesn’t implicate anyone beyond the two syndicate guys....
...However, Weinstein et al say they are excited to a large extent because those aforementioned risks are now materialising. As private credit investors, this is the environment we’ve been waiting for....
...Bunzl, Howdens et al are generally smaller than the household names, and smaller companies can grow faster. Bunzl’s revenues, for example, have increased from £2.7bn to £11.8bn over the past 20 years....
...Neither the monster national players (JPMorgan Chase, Bank of America, Wells Fargo, Citigroup) nor the regionals (PNC, M&T, et al) have had much to say about the economy’s effect on credit quality....
...If you owned rate-sensitive, high-risk stocks yesterday you have Unhedged’s permission to sell and take the rest of the year off (Carvana, Zillow, SoFi, et al rose 10 per cent or more)....
...Big investors are selling US Treasuries and buying European government bonds, betting that cooler inflation in Europe will allow its central bank to start cutting interest rates sooner than the Federal Reserve...
...The riskiest, most beat-up members of the group (KeyCorp, Comerica, Zions, Western Alliance et al) rose the most....
...(In prior statements, officials only cited credit conditions, not financial.)...
...Blackstone will combine its insurance and credit businesses into an integrated unit called Blackstone Credit & Insurance, which chief executive Steve Schwarzman says could grow to manage $1tn in the next...
...Monetary policy: Federal Reserve governor Michelle Bowman, Cleveland Fed president Loretta Mester and San Francisco Fed president Mary Daly will all participate in events today....
...Invest shrewdly, and avoid toxic people and toxic activities, and try and keep learning all your life, et cetera et cetera. And do a lot of deferred gratification because you prefer life that way....
...Just like we saw during the Clinton administration, there will be plenty of growth to generate tax revenue and stabilise the federal deficit and government spending....
...“The political strength that agriculture has within the national congress [means] if it decides not to get on board, we will struggle to approve a law that includes it,” he told the Financial Times....
...The questions private credit lenders are being asked are the same ones banks often face from the Federal Reserve on their risky lending activities: how rigorous is your underwriting, and will these companies...
...This is an audio transcript of the FT News Briefing podcast episode: ‘There’s active interest in passive funds’ Marc Filippino Good morning from the Financial Times....
...That the Fed’s rate increases precipitated a banking crisis before they got inflation down to even vaguely near their target looks like a good example of what Akinci et al were arguing last year....
...But as Goldman’s Praveen Korapaty et al point out, the US government bond market has been pretty choppy for a while now....
...card loan delinquencies, et al)....
...The credit risk premium there is essentially the odds that the underlying asset will default, and that will be more cyclical....
...Inflation worries stalked financial markets before major central banks asserted control. A banking crisis was contained but Credit Suisse and Silicon Valley Bank were washed away....
...The context for that was the turmoil around Silicon Valley Bank, et al....
...Five unmissable stories this week Pete Briger, co-founder of Fortress Investment Group, believes that a sharp credit contraction caused by the banking crisis and rising interest rates will fuel a wave of...
...What about how concentrated the stock market gains are with Nvidia, Microsoft, Google et al? I mean, shouldn’t that weigh against this rally? What about that? Katie MartinMaybe yes....
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