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...Billionaire Ken Griffin’s Citadel Securities plans to start market making in eurozone sovereign bonds next year, challenging investment banks’ dominance of the €10tn market....
...Soon a stream of Silicon Valley entrepreneurs were venturing up the home’s long gated driveway to pitch Son their biggest ideas....
...While the NYSE hosts some penny stocks, Nasdaq’s practice of accepting smaller and less-established companies means it is home to the vast majority....
...Bond values plummeted as investors feared the industry, a chief engine of economic growth, would struggle given weak home buying sentiment and a lack of policy support....
...The deal, which will mark a two-thirds expansion of Citadel’s London office space, comes after Griffin has expressed concern about how hybrid or working-from-home practices can hurt a company’s culture....
...These exposures could have a knock-on effect at home. For now, any major repatriation of investments or unwinding of the carry trade is unlikely....
...It concluded that Apollo’s limited partnership agreements, with pensions and sovereign wealth groups, stated that such travel and dining expenses should be borne by Apollo, not the funds and its investors...
About the FT’s Ken Griffin interview
...UK ministers are working on a threshold — expected to be under 10 per cent — for foreign state ownership to allow “passive” investment from sovereign wealth funds, which are among investors in listed UK...
...Qatar’s sovereign wealth fund is slashing its stake in Barclays, the UK bank that is coming under pressure from investors to overhaul its strategy and improve its performance....
...Last year, Norway’s $1.5tn sovereign wealth fund revealed that it had lost NKr980mn, roughly $92mn, on an error relating to how it calculated its mandated benchmark....
...The country has already lured the ATP Next Gen Finals from Milan to Jeddah, and — as first revealed by the FT — the ATP has been discussing possible joint investments with the Saudi sovereign wealth fund...
...This marks the first time that European ETF investors have favoured “junk” bonds in their home market over the US since 2019....
...But Robert Tipp, head of global bonds at PGIM Fixed Income, warned that if growth and inflation accelerate in the US — home to half of total OECD sovereign debt — there will probably be “at least a mini...
...And it’s not just fantasist sovereign debt academics either....
...to bridge the gap between these headlines is to understand that even as the fiscal policy of rich countries is changing to support the long-term process of re-industrialisation and climate transition at home...
...They’ll talk about “harvesting illiquidity premiums” til the cows come home of course, but they’re actually willing to pony up for the lack of reported volatility....
No, it’s not George Lazenby
...The investment managers that form the layer in between get their capital from insurance companies, sovereign wealth funds, pension funds and so forth....
...Even in the distant US, holders of sovereign and corporate bonds earned less than half the usual long-run returns during periods of war, on average....
...Just as Santa cannot possibly visit every home in one night, investors would eventually see that the S&P 500’s cyclically adjusted price/earnings ratio is double its long-run average....
...Exhibit B was the shift in the banking system from being a home for low-risk, highly regulated quasi-utilities — a product of the troubled 1930s — to an adventure playground in which bankers’ insatiable...
...Partners at the firm took home an average of £1.06mn during the period, which was the highest average partner pay among the Big Four last year....
...But I have just returned home from a fabulous investor conference in Norway, although two speakers have me worried that my portfolio is wrong....
...Given that they comprise bundles of home loans, mortgage-backed securities move to roughly the same macroeconomic impulses as Treasuries....
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