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Top related persons:
Ellen Cooper - 2 David Meneret - 2 Lincoln - 2 Fitch - 2 Moody's - 2 Jamie Tucker - 2 Boaz Weinstein - 2 Saba - 2
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CRE Hill Lincoln Saba New York
Top related orgs:
YORK - 2 Lincoln National Corp - 2 Saba Capital - 2 Moody's - 2 New - 2 CDS - 2 Partners - 2 Citizens Inc - 2

Search resuls for: "David Meneret"


3 mentions found


☆ Lincoln National's CRE exposure targeted by two hedge funds
  + stars: | 2023-07-28 | by ( Carolina Mandl | ) www.reuters.com   time to read: +4 min
NEW YORK, July 28 (Reuters) - Two hedge funds have placed bets that bonds issued by life insurance company Lincoln National Corp (LNC.N) will fall or that its default risk will increase, due to their concerns about the company's commercial real estate (CRE) exposure. Lincoln declined to provide comments on the hedge funds' positions and referred to previous remarks by its management. Fitch Ratings' senior director Jamie Tucker said in an email to Reuters the agency considers Lincoln's CRE exposure modestly below-average compared with the industry, while the quality is materially stronger. In April, Boaz Weinstein, founder of New York-based Saba, said in a post the firm was holding some of Lincoln's credit default swap (CDS), and had already sold some of it. loadingLincoln's CDS spread, a measure of credit risk, is 238 basis points, compared with 323 when Saba disclosed the position, meaning the perceived risk has declined.
Persons: Ellen Cooper, David Meneret, Lincoln, Fitch, Moody's, Jamie Tucker, Boaz Weinstein, Saba, Tracy Benguigui, Carolina Mandl, Megan Davies, Anna Driver Organizations: YORK, Lincoln National Corp, Saba Capital, Moody's, Reuters, New, CDS, Partners, Citizens Inc, Barclays, LNC, Thomson Locations: CRE, Hill, Lincoln, Saba, New York
☆ Lincoln National's commercial real-estate exposure targeted by two hedge funds
  + stars: | 2023-07-28 | by ( Carolina Mandl | ) www.reuters.com   time to read: +4 min
Lincoln declined to provide comments on the hedge funds' positions and referred to previous remarks by its management. Fitch Ratings' senior director Jamie Tucker said in an email to Reuters the agency considers Lincoln's CRE exposure modestly below-average compared with the industry, while the quality is materially stronger. In April, Boaz Weinstein, founder of New York-based Saba, said in a post the firm was holding some of Lincoln's credit default swap (CDS), and had already sold some of it. loadingLincoln's CDS spread, a measure of credit risk, is 238 basis points, compared with 323 when Saba disclosed the position, meaning the perceived risk has declined. Among seven listed life insurers tracked by Barclays, Lincoln was the only one which ended the first quarter below its capital target.
Persons: Ellen Cooper, David Meneret, Lincoln, Fitch, Moody's, Jamie Tucker, Boaz Weinstein, Saba, Tracy Benguigui, Carolina Mandl, Megan Davies, Anna Driver Organizations: YORK, Lincoln National Corp, Saba Capital, Moody's, Reuters, New, CDS, Partners, Citizens Inc, Barclays, LNC, Thomson Locations: CRE, Hill, Lincoln, Saba, New York
☆ Trading turbulence in banking sector: five hedge fund ideas
  + stars: | 2023-04-28 | by ( Summer Zhen Carolina Mandl Nell Mackenzie | Summer Zhen | Carolina Mandl | ) www.reuters.com   time to read: +4 min
The hedge funds said they can share ideas, but cannot reveal their trading positions for regulatory reasons. Reddy said he preferred senior unsecured bank debt, that allowed bondholders payment ahead of some other creditors in the event of an insolvency. Taking bearish positions on banks that lend to smaller and medium sized firms could prove opportunistic if the economy weakens, he added. Trend-wise the Japanese yen should continue to weaken," said Chua, noting that central banks in Asia have slowed or paused rate hikes. Insurers, which holds commercial mortgage-backed securities and property, will likely feel pressures on CRE, he said.
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