Blackstone Launches BXPM – Blackstone Private Markets Fund
Blackstone (NYSE: BX) today announced the launch of Blackstone Private Markets Fund (BXPM), a new, perpetual flagship strategy providing simplified access to Blackstone’s private markets platform in a single allocation. The strategy has access to: Private...
PepsiCo to Raise Some Prices After Cuts Failed to Grow Sales
PepsiCo Inc. is raising prices on some chips, soda and dips just months after pledging to make its snacks more affordable. The company is expected to increase the prices on grocery-store-sized bags of chips, including Doritos and Ruffles, which had been cut earlier...
Blackstone Debuts First Multi-Asset Fund for Non-US Individuals
Blackstone Inc. is launching a private-markets fund for retail clients outside the US, as alternative money managers jockey to court investors worldwide beyond large institutions. The Blackstone Private Markets Fund — the firm’s first multi-asset strategy for non-US...
Fed’s Goolsbee Says Road to 2% Inflation May Not Be Painless
Federal Reserve Bank of Chicago President Austan Goolsbee warned the central bank cannot ignore repeated and persistent supply shocks, and must respond in a way that may cause economic hardship. “Supply shocks have come more frequently, hit harder and lasted longer,”...
Mark Walter’s Lieutenants Give Prosecutors Firsthand Accounts
Federal prosecutors have collected statements from some of billionaire Mark Walter’s most senior executives as authorities probe dealings at his insurance companies and the investment firm he runs, Guggenheim Partners LLC, according to people with knowledge of the...
Morgan Stanley Caps Private Credit Exits Again as 11% Want Out
Morgan Stanley is curbing redemptions at its nearly $7 billion private credit fund again in the third quarter, as investors requested more than twice the amount the fund was willing to repurchase. The North Haven Private Income Fund capped withdrawals at 5% after...
Fed sat on Silicon Valley Bank flaws because regulators feared being wrong, report finds
More than 3.5 years after the failure of Silicon Valley Bank, an independent third-party report finds that social media did not fuel a run on the regional bank's deposits and that regulators knew about its vulnerabilities but did not act for fear of being wrong. In a...
US Mortgage Rates Rise for Fourth Straight Week, Approaching 7%
Mortgage rates rose for a fourth week, coming ever closer to 7%, a threshold that stands to worsen things for borrowers in the already-stalled US housing market. The average for a 30-year, fixed loan climbed to 6.95% from 6.76% a week earlier, Freddie Mac said in a...
Fed Raises Rates as Warsh Bucks Trump to Contain Inflation
The Federal Reserve raised interest rates by a quarter percentage point and penciled in an additional hike later this year, steps aimed at containing inflation that will test Chairman Kevin Warsh’s relationship with President Donald Trump. “Today’s policy action will...
Fortress Warns Private Credit Lenders Against ‘FOMO’ in AI Rush
As the artificial intelligence boom creates a massive new market for private credit, Fortress Investment Group is warning lenders against rushing into deals out of a fear of missing out. Jack Neumark, co-chief executive officer of Fortress, which manages about $55...
S&P 500 Seen Dropping 10% on Fed Hikes, MRA Strategist Says
Potential Federal Reserve rate hikes starting this week could spur a correction in the S&P 500 as reduced corporate margins hurt profit outlooks and markets brace for a tightening cycle, according to Macro Risk Advisors LLC. The S&P 500 has dropped nearly 1%...
BofA, Tallbacken Lift S&P 500 Views, Differ on Rate Risks
Market watchers might not agree with how interest rates will impact the S&P 500 Index, but they’re still more optimistic about where stocks are headed than they were before. Bank of America Corp.’s Savita Subramanian, among the top equity bears, raised...
Graduating in AI Era Is Like ‘Large Recession’ for Starting Pay
The rise of artificial intelligence has coincided with a significant decline in both initial earnings and employment among graduates with the most-exposed college majors, a worrisome trend that could shape career outcomes for years afterward, according to a new study....
Wall Street Says Stay With Stocks Despite Late ‘90s Dot-Com Vibe
Rising bond yields and soaring oil prices have many Wall Street pros looking back a few decades to the volatile period before the dot-com crash. But that doesn’t mean they’re encouraging investors to dump their stocks. The exhortation to stay in the market comes at a...