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...Fund managers are wary of acquisitions that might result in them holding debt that becomes riskier than when they first agreed to buy it....
...Deutsche Bank has hired Alexandre Lotfi as head of wealth management lending for the UK and central Europe at its private bank. He previously worked for the Bank of Singapore....
...Barclays announced new management for most of those divisions on Tuesday, with the investment bank being co-led by four people....
...A: 37% Which central bank was the first to introduce a formal inflation target? A: Reserve Bank of New Zealand Which former finance minister said: “I was, in a way, a victim of the bond markets.”...
...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....
...“Banks are nervous to underwrite single-B credit with M&A timelines which could be six months of holding the risk,” said Lauren Basmadjian, co-head of liquid credit at Carlyle....
...Despite missing that attraction, our colleague Patrick Temple-West will be reporting from the US capital this week, where the IMF and World Bank are holding their spring meetings....
...an average C rating in their portfolios....
...The investors At almost every layer of the Signa network are minority co-investors and a bewildering array of lenders....
...They’re digital tokens backed either by a) dollar-denominated portfolios of safe assets; b) unaudited promises that they have safe assets; or c) magical confidence maths that only work until a death spiral...
...One group sang to the tune of YMCA, “H-S-B-C, get your money out of H-S-B-C . . . they’re selling greenwashing lies . . . investors complicit up to their eyes”....
...So money that did go into high yield went into higher quality, including double-B bonds....
...Moody’s keeps a list of companies that are rated triple-B-negative or lower, that is, companies which are either C-rated (“of poor standing and subject to very high credit risk”) or right on the cusp of...
...Research on pension holdings last week sought to give additional weight to these concerns....
...“They make really good aeroplanes,” says Bank of America’s Epstein....
...Trustfall feels less like a cohesive album than a catchy pick‘n’mix designed for digital playlists....
...“We believe Soho House & Co is a zero,” the short seller wrote in a report released this week where it disclosed a bet against the business....
...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]....
...“F.E.E.L.I.N.G.C.A.L.L.E.D.L.O.V.E” and “Sorted for E’s & Wizz” were ticked off like rites of passage from someone moving from Sheffield outsider to Britpop in-crowd....
...Even higher-quality companies are getting shut out, with single-B and single-B minus rated loan issuance in the US down more than 70 per cent from 2021 levels....
...The campaign’s aim is to a) ensure the recent arrivals know how to register, b) mobilise their vote to get political weight behind things Hongkongers care about, and c) signal to policymakers that they could...
...For scale, US banks hold $2.9tn in CRE loans (and non-banks hold a lot of CRE debt, too). While the numbers are small now, they will rise, at least somewhat....
...There is still demand for lower-quality single-B loans, said Drew Sweeney, a loan portfolio manager at asset manager TCW, referring to the rating just above triple-C....
...Some would probably argue that more information is not the same as better information . . . but c’mon....
...While offices are grouped into classes (A, B and C) meant to reflect their potential attractiveness to lessees, those designations haven’t been a useful way to predict occupancy since Covid, GS finds: New...
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