Private Credit Is the Hot New Thing on Wall Street. But What Is It?
It sounds mysterious, but it’s really just a loan—often a risky one—made by an investment fund instead of through a bank. Hedge funds? Quant trading? Old news. These days, everyone within shouting distance of Wall Street is talking about private credit—even if some of...
Bessent Says DOGE Effort Has Saved Estimated $50 Billion So Far
US Treasury chief says no need to worry about private data Ukraine partnership will show US citizens a return on support US Treasury Secretary Scott Bessent said US taxpayers don’t need to worry about the security of their private data while Elon Musk’s Department of...
Federal Mortgage Insurer to Lay Off About Half Its Workforce
The Trump administration is planning to lay off at least 40% of the workers at the federal agency that provides mortgage insurance on loans for people who otherwise wouldn’t qualify for one, according to two sources familiar with the agency’s plans. Federal officials...
“2025”, Year for Transformation to Private from Public Market Began
2025 will be recorded in the history books as being the year for which the transformation from public to private growth investing began. By the end of 2025 shareholders of select private startup and early-stage companies valued for less than $1.0 billion will begin...
Southwest to Cut 15% of Corporate Jobs in First-Ever Layoffs
Reductions to affect about 1,750 roles beginning in April Carrier has been cutting costs in wake of activist battle Southwest Airlines Co. will cut about 1,750 jobs in its leadership ranks, a dramatic step to reduce expenses that mark the first layoffs in the...
Vanguard Overtakes State Street as World’s Biggest ETF
Vanguard’s VOO has raked in $23 billion so far this year It’s not the first time that SPY’s crown has slipped Vanguard has unseated State Street for the title of the world’s biggest exchange-traded fund, ushering in a new world order for the $11 trillion industry. The...
OpenAI Co-Founder Sutskever’s Startup Is Fundraising at $30 Billion-Plus Valuation
SSI raising more than $1 billion, including from Greenoaks Former OpenAI chief scientist left the company last year OpenAI co-founder Ilya Sutskever is raising more than $1 billion for his startup at a valuation of over $30 billion, according to a person familiar with...
DC Firings Threaten to Ignite GOP Rebellion
Good morning, and happy Presidents’ Day. US government layoffs expanded over the weekend while cuts to Medicaid threaten to divide Republicans. Traders are kept guessing on tariffs. And the BAFTAs offer a possible Oscars preview. Listen to the day’s top stories. US...
Americans have always sought debt relief after the holidays. Now their struggle is year-round.
Overall household debt climbed to a new high of $18.04 trillion in the fourth quarter, the New York Fed reported. Digging out of debt used to be a new year tradition. The first three months of the year typically were the busiest for credit counselors, who were...
More Americans with government loans are falling behind on their mortgages, a warning sign for consumer health
As interest rates stay high, delinquency rates are likely to creep up, experts say. Borrowers who got home loans through government-backed programs are increasingly falling behind on their payments, a potentially worrying signal for how lower-income Americans are...
Bank of America says growth stocks are in a bubble exceeding the ‘dot-com’ and ‘nifty fifty’ eras — and warns they could take the S&P 500 down 40%
Bank of America warns of a bubble in US growth stocks echoing the "Nifty Fifty" and "dot-com" eras. Concentration in US stocks is significantly above historical norms, BofA said. Investors should consider diversifying and focusing on quality stocks to mitigate risks,...
Treasuries Rally as Weak Retail Sales Reignite Rate-Cut Bets
Yields reach weekly lows, erasing Wednesday’s post-CPI surge Traders resume pricing in a Fed rate cut by September Treasury yields dropped to weekly lows Friday after weak January retail sales data prompted traders to restore bets that the Federal Reserve will cut...
BlackRock’s Larry Fink Handed Pay Perks for Role in Growing Private Markets
BlackRock Inc. awarded Chief Executive Officer Larry Fink additional pay perks known as carried interest tied to the asset manager’s major expansion in private markets, saying the co-founder has a key role in the firm’s long-term plans. Fink will receive a percentage...
Family Offices Bet on Nvidia Before $589 Billion DeepSeek Rout
Longbow, Appaloosa, Iconiq added shares of AI chipmaker in Q4 Iconiq also disclosed a $1.6 billion stake in ServiceTitan Investment firms for the world’s ultra-rich boosted their Nvidia Corp. allocations ahead of the DeepSeek-driven selloff. Family offices for...