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...In recent years the trusts, which act as closed-ended investment funds, have become less popular as higher interest rates lured investors into government bonds....
...The jump in loan losses comes as borrowers with floating-rate loans are facing higher repayments after the Federal Reserve implemented an aggressive string of interest rate rises to combat soaring inflation...
...Franklin Templeton: an old-school stockpicker tries to reinvent itself St James’s Place business model under scrutiny after fee cut Robyn Grew: the ‘force of nature’ named Man Group chief executive 10...
...The asset manager converted its long-standing bitcoin trust into an ETF in January, but the product carries a much higher management fee than its competitors....
...Better’s business boomed as interest rates hit rock bottom in the pandemic, funding $58bn worth of loans in 2021, a 1,000 per cent increase from two years before....
...Oh, and the 27.6 per cent returns that listed BDCs notched up last year, thanks to a combination of rising rates helping juice the payments they collect on their floating rate loans and the price appreciation...
...Most private credit loans come with floating interest rates that are tied to benchmark rates. That offers protection against inflation, unlike fixed income securities....
...“All the asset classes that tend to do well when the Fed cuts rates aggressively are doing well.”...
...Harriet A, Josh Franklin and Ortenca Aliaj have the scoop....
...JPMorgan estimates at least €4bn of the debt owed by two pivotal Signa subsidiaries is at floating rates....
...Part of the appeal of the Reits is that they own floating rate assets....
...Worse than expected sales and rapidly rising interest rates, which sent the cost of servicing floating-rate loans soaring, were to blame....
...BlackRock is expected to ring the opening bell at Nasdaq to promote its iShares Bitcoin Trust....
...Investors said Credit Suisse’s problems were a reminder that Europe’s banks also had large bond portfolios, the paper value of which has been hammered by rising interest rates....
...It took until December for the Federal Reserve to admit that it may have finished its tightening campaign, following 11 rate rises that lifted the benchmark interest rate to a 22-year high of 5.25-5.5 per...
...Ha, trust me, you’d know! The primary dealers mostly only buy on behalf of investors, and there’s a clear process to decide what they want to pay for newly issued Treasuries....
...Europeans were hit harder by recent rate hikes than Americans because they have more mortgages and other long-term loans with floating rates....
...They [banks] are selling the assets that are their highest-quality assets and that are short-duration and floating rate.”...
...But it could not cover its payments after rates rose. Lender Arbor Realty Trust foreclosed on the properties in April....
...Text by Susan Bright, from “Running Falling Flying Floating Crawling”, published by Saint Lucy Books....
...They have to be able to trust something about the process or it breaks down....
...The company isn’t getting much from the special purpose acquisition company trust, which has about $20mn left after more than 90 per cent of shareholders decided to redeem....
...Rising rates have increased the appeal of Blackstone’s credit funds, which invest in floating rate loans that benefit from higher borrowing costs....
...Higher interest rates increase the financing costs on any building that is financed with floating-rate debt or has to roll over its debt. Lower occupancy or lower rent reduces building incomes....
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