BlackRock’s Tseng to Exit as CEO of Troubled Private Credit Fund
The head of BlackRock Inc.’s beleaguered private credit fund is in the process of leaving the firm, a move that follows months of losses on soured loans and revelations of a US regulatory probe into the unit’s valuation practices. Phil Tseng, chief executive officer...
US Car Payments Hit a Record $777 a Month as Down Payments Drop
The automotive affordability crisis is deepening as average monthly car payments reached a record $777 in the second quarter, with nearly a quarter of US car buyers taking out loans of seven years or more. The average amount financed on a new car also reached an...
Pimco Warns Private Credit ‘Confidence Gap’ to Reveal Weak Funds
Private credit investors have become increasingly discerning about dispersion in investment marks, creating a “confidence gap” between asset managers, according to Pacific Investment Management Co. Managers with stronger loan quality are being rewarded as net asset...
Nike Sees Weakness Persisting as Investors Grow Impatient
Nike Inc. executives gave a cautious outlook and warned about elevated consumer anxiety, adding to investor concerns about the sportswear company’s painfully slow turnaround. “We are not expecting the environment to improve meaningfully over the next six months,” Matt...
Goldman Sachs forecasts return to oversupply in global oil market
The bank slashed its Brent crude forecast by $10 per barrel as Iran tensions ease and non-OPEC supply surges Goldman Sachs has cut its fourth-quarter 2026 Brent crude forecast to $80 per barrel, down from $90, as the bank anticipates a flood of supply returning to a...
Microsoft’s $613 Billion Rout Sets Up Its Worst Month Since 2000
Microsoft Corp. shares are heading for their worst month in years as investors continue to fret about how the software giant will fare in a world marked by artificial intelligence. The stock has dropped 18.4% in June, which would represent its worst monthly...
Morgan Stanley Private Credit Fund Sells $350 Million Bond
A Morgan Stanley private credit fund sold investment-grade bonds to refinance debt, its first offering in just over a year. Morgan Stanley Direct Lending Fund raised $350 million from a five-year note, matching its target size, according to a person with direct...
Crypto’s Institutional Buyers Retreat in Double Blow to Bitcoin
Bitcoin’s biggest institutional sources of demand are faltering at the same time, leaving the cryptocurrency increasingly exposed as exchange-traded fund investors pull money at a record pace and questions persist over the financing playbook behind its largest...
Sovereign Funds Pivot Further to Private Assets in Risky Markets
The world’s biggest public investors plan to shift more capital into private and less liquid assets amid rising risks to their traditional bond-and-stock portfolios, according to an industry survey. Roughly a third of sovereign wealth funds polled by Invesco Ltd. plan...
Private Credit Is Making Bets on Consumer Debt at a Precarious Time
Billions are flowing from firms like Blue Owl and KKR into Buy Now, Pay Later companies. It's an untested model and skeptics are worried about what happens in a downturn.The private credit industry was dubbed “shadow banking” as it took business away from traditional...
IRAs hold trillions more than 401(k) plans — yet people hardly save in them
Individual retirement account assets exceed those of 401(k) plans by trillions of dollars. Annual rollovers from 401(k)-type plans to IRAs are set to exceed $1 trillion within years as baby boomers hurtle into retirement. Many investors may be well served by keeping...
$1,000 in UBER 2010 = $13.7 Million on 2019 IPO
Early investors in UBER made a killing. At UBER’s 2019 IPO launch, $1000 invested in first two funding rounds: 2010 seed, $13,700,000 2011 Series A, $1,370,000 FULL DISCLOSURE: I did not invest in UBER. I have never recommended an investment in UBER to anyone. ...
AI Rout Exposes Wall Street’s $270 Billion Speculation Machine
This week’s tech rout did more than puncture one of the year’s hottest trades: it exposed the machinery of modern speculation — and how quickly it can work in reverse. A retail-fueled unwind in AI chip stocks reverberated through semiconductor shares across Asia and...
US Chipmaker Selloff Pushes Key Stock Indexes to Weekly Loss
US stocks ended the week lower as ongoing weakness in chip stocks outweighed a survey showing cooler-than-expected inflation expectations and easing rate hike concerns. The S&P 500 fell 0.1% Friday to cap off its biggest weekly decline since the beginning of June...