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...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....
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...If velocity fell, people would end up holding more money. Eventually, they would tire of holding cumbersome, zero-interest cash, and put it to use. Velocity would rise again....
...time [pre-financial crisis, at UBS], you either covered the whale- type accounts — the big mutual funds — or capital on the West Coast or whatever it was . . . no one really cared about macro funds or credit...
...Super Micro Computer, a server equipment maker with no credit rating whose share price has more than doubled since the start of the year, was able to raise $1.7bn with zero interest rate....
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...Bond yields have “come down enough from their peak that we see demand [from companies and households] for credit going forward”....
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...Rapid rises in mortgage rates had at first propelled homebuilder stocks, because they made current homeowners holding cheaper fixed-rate loans less willing to sell their properties....
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...A version of this article was first published by Nikkei Asia on February 27. ©2024 Nikkei Inc. All rights reserved....
...Signa Holding, the central company, recently filed for administration....
...Credit Suisse, Deutsche Bank, Goldman Sachs and HSBC reported losses in their China-based units in 2022....
...It’s holding up really well because inventory levels are low, because you have a 3.9 per cent unemployment rate....
...As part of that partnership, ICBC International provided a $200mn credit line to China Renaissance backed by pledged shares in the investment bank....
...Similarly, the problems at Credit Suisse were also evident well before it collapsed in March....
...According to securities filings that show Starboard holdings as of June, the firm owned more than $4mn of the company’s shares....
...Greensill’s insurers, which include BCC’s former parent Insurance Australia Group, Tokio Marine and Zurich are refusing to pay out on the company’s credit cover....
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