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☆ US SEC readies vote on regulatory overhaul for private funds
▼ + stars: | 2023-08-23 | by ( ) www.reuters.com time to read: +2 min

The seal of the U.S. Securities and Exchange Commission (SEC) is seen at their headquarters in Washington, D.C., U.S., May 12, 2021. At the time it was proposed, SEC Chair Gary Gensler said the changes would benefit investors in such funds, typically wealthy individuals and institutional investors like pension funds, and companies raising capital from them. "Private fund advisers, through the funds they manage, touch so much of our economy. Private funds reported holding $20.4 trillion in gross assets by the end of 2022, versus $8 trillion about a decade earlier, according to data available on the SEC's website. "We don't see that the SEC is solving anything with this," said Jack Inglis, CEO of the Alternative Investment Management Association.

Persons: Andrew Kelly, Gary Gensler, Sherrod Brown, Elizabeth Warren, Jennifer Han, Jack Inglis, Chris Prentice, Douglas Gillison, Michelle Price, Nick Zieminski Organizations: U.S . Securities, Exchange Commission, Washington , D.C, REUTERS, Exchange, Fund, SEC, Democratic, Industry, Citadel LLC, Association, Alternative Investment Management Association, Carolina, Thomson Locations: Washington ,, New York, Washington

The private fund industry manages $20 trillion in assets. They would also require funds to perform annual audits. "Private fund advisers, through the funds they manage, touch so much of our economy," he said at the time. The rule would require fund managers to disclose so-called "side letters" - an industry practice through which funds can offer some investors special terms - when they are financially material. Earlier, the proposed rules would require investors and private funds to re-write all their contracts.

Persons: Jim Bourg, Exchange Commission's, Gary Gensler, Andreesen Horowitz, Michelle Price, Nick Zieminski, Mark Porter Organizations: U.S . Securities, Exchange Commission, SEC, REUTERS, Securities, Exchange, Citadel, Industry, Association, Alternative Investment Management Association, Thomson Locations: Washington, U.S

☆ JPMorgan executive explains why decarbonization is a megatrend that business can't ignore
▼ + stars: | 2023-08-22 | by ( Catherine Clifford | In Catclifford | ) www.cnbc.com time to read: +9 min

"It doesn't matter whether you're an energy client, or a consumer products client, or a retail client, there is something about this megatrend that is going to impact your business model, your business," Variankaval told CNBC. Right now, Variankaval says, it's too soon to know exactly which climate tech companies are going to the winners and losers. It's a multi decade-long process," Variankaval told CNBC. In some segments of climate tech, there are debates about which solutions are better than others that take on a near religious fervor. So you need to diversify in terms of technologies, but also in time horizons," Variankaval told CNBC.

Persons: Rama Variankaval, decarbonization, Variankaval, Megatrend, —, Joe Biden, Sen, Joe Manchin, Chuck Schumer, James Clyburn, Frank Pallone, Kathy Catsor, Drew Angerer, Biden, signe, It's, it's, That's, We're Organizations: JP Morgan Securities LLC, Aspen, Bloomberg, Getty, JPMorgan Chase, CNBC, JPMorgan, United Nations, Carbon, SC, White, Federal Reserve Locations: Miami Beach , Florida, Paris, decarbonization, United

TAIPEI, Aug 18 (Reuters) - Foreign investors seem to be undeterred by the possibility that growing tensions between Taiwan and China could precipitate fund outflows from the Taiwan market, the chairman of the Taiwan Stock Exchange told Reuters. "Foreign investors have recently trimmed their holdings. "We have talked to foreign investors, including from countries such as Japan and Singapore. "Even with the regular sight of Chinese warplanes flying around, why have foreign investors not left the Taiwan market?" "Taiwan's supply chain is very strong.

Persons: Sherman Lin, Lin, Faith Hung, Roger Tung, Jacqueline Wong Organizations: Taiwan Stock Exchange, Reuters, Investment, Depository Trust, Clearing, Thomson Locations: TAIPEI, Taiwan, China, Asia, Japan, Singapore, New York, Boston

☆ Top Republican China hawk says White House investment restrictions fall short
▼ + stars: | 2023-08-18 | by ( Chelsey Cox | ) www.cnbc.com time to read: +5 min

WASHINGTON — A leading House Republican voice on the national security threat posed by China said the White House's plan to restrict outbound investment in the Chinese military and defense companies falls short of addressing the real problem. The Wisconsin Republican is the chairman of the House Select Committee on the Chinese Communist Party and a leading voice in the House on the risks of U.S. investment in China. The House CCP Committee has flagged around 50 firms, including machinery, aircraft and technology firms and created a de facto blacklist. Yellen has already signaled that she intends to keep any investment restrictions "narrowly targeted" to protect U.S. national security, and insists they are not intended to weaken China's economy. "Even though these policies may have economic impacts, they are driven by straightforward national security considerations," she said in an April speech.

Persons: Mike Gallagher, WASHINGTON —, Joe Biden's, Gallagher, Janet Yellen, Yellen Organizations: U.S, Capitol, Republican, Treasury Department, Wisconsin Republican, Chinese Communist Party, CCP, The, House CCP, BlackRock, CNBC, White House Locations: China, United States, Wisconsin, Mexico, Canada, BlackRock

A man wearing a face mask passes in front of screens showing trading data while using an escalator outside Taiwan Stock Exchange in Taipei, Taiwan March 20, 2023. REUTERS/Annabelle Chih/File Photo Acquire Licensing RightsTAIPEI, Aug 18 (Reuters) - Foreign investors seem to be undeterred by the possibility that growing tensions between Taiwan and China could precipitate fund outflows from the Taiwan market, the chairman of the Taiwan Stock Exchange told Reuters. Taiwan Stock Exchange Chairman Sherman Lin said in an interview this was a natural plateau after a rally rather than a sign that foreign funds are fleeing the market. "We have talked to foreign investors, including from countries such as Japan and Singapore. "Even with the regular sight of Chinese warplanes flying around, why have foreign investors not left the Taiwan market?"

Persons: Annabelle Chih, Sherman Lin, Lin, Faith Hung, Roger Tung, Jacqueline Wong Organizations: Taiwan Stock Exchange, REUTERS, Rights, Reuters, Investment, Depository Trust, Clearing, Thomson Locations: Taiwan, Taipei, Rights TAIPEI, China, Asia, Japan, Singapore, New York, Boston

☆ US investor group clinches tax credit deal for $1.5 bln renewable power acquisition
▼ + stars: | 2023-08-16 | by ( Isla Binnie | ) www.reuters.com time to read: +2 min

Power-generating Siemens 2.37 megawatt (MW) wind turbines are seen at the Ocotillo Wind Energy Facility California, U.S., May 29, 2020. Invenergy said in a statement it agreed to sell tax credits worth $580 million to Bank of America, and put those funds towards buying 14 projects from American Electric Power (AEP.O). It "creates a financeable transferability product that will be used to scale the growth of renewable energy," Fang said. Analysts at investment bank Credit Suisse have estimated the IRA could lead to the generation of tax credits worth $576 billion by 2031. Private equity firm Blackstone has invested around $4 billion in Invenergy.

Persons: Bing Guan, Joe Biden's, Invenergy, Karen Fang, Fang, Blackstone, Isla Binnie, Marguerita Choy Organizations: Energy Facility, REUTERS, Invenergy, Blackstone, Bank of America, American Electric Power, Bank of, International Energy Agency, Credit Suisse, Treasury Department, Internal Revenue, Canada's, Thomson Locations: Energy Facility California, U.S, Invenergy, Canada's Caisse, Quebec

☆ Hedge funds land bonuses despite returns below bank savings rates -Goldman
▼ + stars: | 2023-08-15 | by ( Nell Mackenzie | ) www.reuters.com time to read: +2 min

Savings accounts currently offer interest rates of about 5.5% in the United States, and 3.75% in Europe. About 73% of the investors surveyed were based in the United States, Goldman said in the note sent to clients on Monday. Reuters GraphicsMost investors use an index compiled by Hedge Fund Research (HFR) to determine whether or not their hedge fund has performed well enough to earn a bonus or performance fee. Reuters GraphicsSome agreements between a hedge fund and their investors base fees not on a minimum threshold but on a past high the hedge fund has hit, a so-called high-water mark. Half of the investors surveyed said hedge funds met their expectations this year but only 8% said they had outperformed, the lowest proportion since 2018.

Persons: Dado Ruvic, Goldman Sachs, Goldman, Nell Mackenzie, Elisa Martinuzzi, Dhara Ranasinghe, Alexander Smith Organizations: REUTERS, Savings, Reuters Graphics, Hedge Fund Research, Reuters, Thomson Locations: United States, Europe, Anecdotally

In New York City, debates over affordability often center on the proliferation of opulent high-rise developments. But in the boroughs, deep-pocketed investors are buying up hundreds of smaller buildings, prompting a new set of concerns in the city’s deepening housing crisis. Over the past few years, private equity firms have quietly spent hundreds of millions of dollars buying apartments in neighborhoods like Bushwick, Bedford-Stuyvesant and Williamsburg in Brooklyn and Ridgewood in Queens, property records show. Private equity firms — which typically invest money on behalf of pension funds, endowments or other large sources of wealth — focus on assets, like businesses or housing, that they can buy relatively cheaply but that have big profit potential. Their expansion into the housing market across the nation has prompted scrutiny in Congress about whether the trend is amplifying America’s affordability problems.

Locations: New York City, Bushwick, Bedford, Stuyvesant, Williamsburg, Brooklyn, Ridgewood, Queens, New York

People walk in the Goldman Sachs global headquarters in Manhattan, New York, U.S., November 15, 2021. REUTERS/Andrew KellyAug 10 (Reuters) - Goldman Sachs (GS.N) shareholders cannot go forward with a class action alleging the bank misled investors about its business practices ahead of the subprime mortgage crisis, a U.S. appeals court ruled on Thursday. Circuit Court of Appeals ruled in three pension funds' long-running case accusing the bank of unlawfully hiding conflicts of interest when creating risky subprime securities, costing investors more than $13 billion. The investors said that the bank's fraudulent statements kept its stock price artificially high. Goldman argued that these "aspirational" statements were too vague and general to have had any impact on the stock price.

Persons: Goldman Sachs, Andrew Kelly, Goldman, John Paulson, Jody Godoy, Jonathan Oatis, John Stonestreet Organizations: REUTERS, The, Circuit, U.S, Goldman, Abacus, U.S . Securities, Exchange Commission, Supreme, Appeals, Thomson Locations: Manhattan , New York, U.S, The New York, Arkansas, New York

Jamie Dimon, chairman of the board and chief executive of JPMorgan Chase & Co., speaks during the event Chase for Business The Experience - Miami hosted by JP Morgan Chase Bank for small business owners at The Wharf in Miami, Florida, U.S., February 8, 2023. REUTERS/Marco Bello/File PhotoNEW YORK, Aug 9 (Reuters) - A federal judge has dismissed a shareholder lawsuit accusing JPMorgan Chase (JPM.N) Chief Executive Jamie Dimon and his board of directors of ignoring red flags surrounding disgraced former client Jeffrey Epstein. The so-called derivative lawsuit sought to have the defendants or their insurers pay damages to JPMorgan, for the benefit of shareholders. Rakoff is also overseeing two Epstein-related lawsuits against JPMorgan by the U.S. Virgin Islands, where the financier owned two neighboring islands, and by Epstein victims. Staley was also Barclays' (BARC.L) chief executive from 2015 to 2021.

Persons: Jamie Dimon, JP, Marco Bello, JPMorgan Chase, Jeffrey Epstein, Jed Rakoff, Rakoff, Epstein, Dimon, Jes Staley, Staley, Jonathan Stempel, Leslie Adler Organizations: JPMorgan Chase &, Chase, Business The, Miami, JP Morgan Chase Bank, REUTERS, JPMorgan, Rakoff, U.S ., Barclays, Miami General Employees & Sanitation Employees, Court, Southern District of, Thomson Locations: Miami , Florida, U.S, Miami, Pittsburgh, Manhattan, U.S . Virgin Islands, U.S . Virgin, Southern District, Southern District of New York, New York

[1/2] A sign indicates the direction to the offices of Progress Software in Burlington, Massachusetts, U.S., July 26, 2023. But more than two months after the breach was first disclosed by Massachusetts-based Progress Software, the parade of victims has scarcely slowed. The tallies show that nearly 40 million people have been affected so far by the hack of Progress' MOVEit Transfer file management program. Now the digital extortionists involved, a group named "cl0p", have become increasingly aggressive about thrusting their data into the public domain. MOVEit is used by organizations to ship large amounts of often sensitive data: pension information, social security numbers, medical records, billing data and the like.

Persons: Brian Snyder, Marc Bleicher, cl0p, Huntress Security's John Hammond, Christopher Budd, Sophos, Eric Goldstein, Nathan Little, Emsisoft, Bert Kondruss, Rowe Price, Maximus, Alexander Urbelis, Crowell, Goldstein, didn't, Surefire's, Raphael Satter, Zeba Siddiqui, Chris Sanders, Grant McCool Organizations: Progress Software, REUTERS, FRANCISCO, Reuters, Software, Insurance, of America, Cybersecurity, Infrastructure Security Agency, Tetra Defense, WHO, Pension, California Public Employees, Moring, U.S ., Thomson Locations: Burlington , Massachusetts, U.S, WASHINGTON, American, Massachusetts, York, New York, Louisiana, California, New York City, Oregon

☆ Trucking giant Yellow declares bankruptcy after nearly 100 years in business
▼ + stars: | 2023-08-07 | by ( Associated Press | ) www.businessinsider.com time to read: +5 min

Trucking giant Yellow declared bankruptcy and will shut down. The company received a $700 million loan from the federal government in 2020. Trucking company Yellow Corp. has declared bankruptcy after years of financial struggles and growing debt, marking a significant shift for the U.S. transportation industry and shippers nationwide. The Chapter 11 bankruptcy, which was filed Sunday, comes just three years after Yellow received $700 million in pandemic-era loans from the federal government. The Teamsters supported the $700 million loan when it was first announced.

Persons: Darren Hawkins, Sean O'Brien, Yellow, Trump, Bruce Chan Organizations: Teamsters, Morning, Yellow Corp, New England Motor, Former, FedEx, ABF, YRC, Inc, Street, Central States Health, Welfare Fund, U.S, Bankruptcy, Treasury Department, Treasury, Defense Locations: U.S, Nashville , Tennessee, Delaware

☆ HSBC senior official apologises for saying UK 'weak' over China
▼ + stars: | 2023-08-07 | by ( Iain Withers | ) www.reuters.com time to read: +2 min

LONDON, Aug 7 (Reuters) - HSBC's head of public affairs has apologised after reportedly saying that Britain had been "weak" for going along with U.S. demands to curtail business dealings with China. HSBC (HSBA.L), , which makes the bulk of its profit in Asia, has faced criticism from Western lawmakers over its dealings with China. "I was speaking at a private event under Chatham House Rule and my personal comments don't reflect the views of HSBC or the China-Britain Business Council. I apologise for any offence caused," Cowper-Coles said in a statement provided by HSBC on Monday. The Chatham House Rule, named after a London-based foreign affairs think tank, means participants can use information received but cannot identify the speaker nor their affiliation, according to the Chatham House website.

Persons: Sherard Cowper, Cowper, Coles, Mike Pompeo, Iain Withers, Susan Fenton Organizations: Washington, Bloomberg, HSBC, Coles, China - Britain Business Council, Chatham House, Britain's, Chatham, Thomson Locations: Britain, China, Coles, West, Asia, British, London, Chatham, Hong Kong, Beijing

☆ Check out the pitch deck that Measurabl, a real estate startup that boasts Major League Baseball as a client, used to raise $93 million during a proptech fundraising drought
▼ + stars: | 2023-08-07 | by ( Alex Nicoll | ) www.businessinsider.com time to read: +4 min

Regulators and investors are putting pressure on the real estate industry to go green. The most obvious end-users are commercial real estate owners, but Ellis says the revenue potential is far bigger than that. The company's fundraising comes as more policymakers seek to require landlords and real estate investors to reduce their carbon emissions. Capital hasn't been far behind, with leading proptech venture fund Fifth Wall raising a $500 million fund to decarbonize real estate. See the deck, minus confidential financial information, that Measurabl used to raise its monster $93 million round below.

Persons: Matt Ellis, Ellis, Bob Sulentic, CBRE's, CBRE, Measurabl, hasn't Organizations: Major League Baseball, Energy Impact Partners, Sway Ventures, Suffolk Construction, Colliers, Lincoln Property Company, New Locations: San Diego, Real, Suffolk, Measurabl

☆ Hedge fund investors hunt credit, equity portfolios
▼ + stars: | 2023-08-04 | by ( ) www.reuters.com time to read: +2 min

The bank's capital introduction team, which introduces hedge funds to money managers, interviewed in July 340 investors, with over $1 trillion invested in hedge funds. Credit hedge funds were up 2.9% between January and June. Second on the most-wanted list of global hedge fund strategies were equity long/short strategies, with a net 17% of investors planning to increase allocation. Equity long/short strategies were up 5.3% in the first half of the year, according to Goldman Sachs, underperforming the main stock indexes. A net 13% of investors planned to increase allocation, versus 27% in the first half of the year.

Persons: Rick Wilking, Goldman Sachs, Carolina Mandl, Frances Kerry Organizations: REUTERS, Carolina, Thomson Locations: Westminster , Colorado, New York

☆ The Risks Hidden in Public Pension Funds
▼ + stars: | 2023-08-04 | by ( Jeff Sommer | More About Jeff Sommer | ) www.nytimes.com time to read: +1 min

And he now says that, on average, the risks being carried by public pension funds are at least 20 percent greater than they are reporting, largely because they aren’t taking account of the true risks embedded in private equity. Private equity returns exhibit low volatility because they are based on infrequent appraisals of private companies. “When you adjust for the stale pricing in private equity funds, the risks are much greater,” he said in a telephone conversation. Unlike with 401(k) retirement accounts, workers in public pension plans don’t get to decide where their money is invested. Instead, academic studies suggest that the vast majority of us need diversified holdings of the entire public stock and bond markets through cheap, well-regulated funds, mainly index funds, invested with horizons of a decade or longer.

Persons: ”, don’t Organizations: Securities, Exchange Commission Locations: Oregon

☆ Sweden's Ericsson sued by some shareholders for $170 million, Dagens Industri reports
▼ + stars: | 2023-08-04 | by ( ) www.reuters.com time to read: +1 min

A logo of Ericsson is seen outside the company's office in Kanata, Ontario, Canada April 17, 2023. REUTERS/Lars Hagberg/File PhotoOSLO, Aug 4 (Reuters) - Some 37 Ericsson (ERICb.ST) shareholders are suing the Swedish telecoms company for a total of 1.8 billion crowns ($170 million), business daily Dagens Industri reported on Friday. The shareholders, which include several investment firms and pension funds, have filed separate lawsuits with a Swedish court but their actions are coordinated, the paper reported. According to Dagens Industri, the shareholders are demanding compensation for the 33% fall in value in Ericsson shares between Feb. 16, 2022, and March 2. On Feb. 15, 2022, Ericsson CEO Boerje Ekholm had talked to Dagens Industri about an internal, and until then, secret report about the company's activities in Iraq, the paper said in a published interview.

Persons: Lars Hagberg, Dagens Industri, Boerje Ekholm, Dagens, Gwladys Fouche, Louise Heavens Organizations: Ericsson, REUTERS, Dagens, Marie Mannes, Thomson Locations: Kanata , Ontario, Canada, OSLO, Swedish, Iraq, Oslo, Stockholm

☆ Bud Light controversy cost AB InBev about $395 million in lost US sales
▼ + stars: | 2023-08-03 | by ( Michelle Toh | ) edition.cnn.com time to read: +3 min

Hong Kong CNN —The world’s largest brewer is counting the costs of being swept into a controversy over Bud Light in the United States. AB InBev said Thursday that US revenue fell 10% in the second quarter as sales of its top brand slumped. AB InBev responded by saying it took its responsibilities to investors seriously. “Most consumers surveyed are favorable towards the Bud Light brand and approximately 80% are favorable or neutral,” the drinks maker added. Like many other businesses, AB InBev has rolled out cost-cutting measures this year, as it seeks to defend its global lead.

Persons: Bud Light, Bud, influencer Dylan Mulvaney, Kid Rock, Ron DeSantis, ”, Mulvaney, Michel Doukeris, Stella Artois, — Juliana Liu Organizations: Hong Kong CNN, InBev, Revenue, Florida, Bud Light, Modelo Locations: Hong Kong, United States, North America, Canada, Belgian, Corona, China, Brussels, South Africa, Colombia

Over the two trading days since, the market has tried to second-guess the pace at which the BOJ wants yields to move, while the BOJ has run special bond-buying operations to cap yields. "There is only a very, very small possibility of a sudden or very steep rise in JGB yields, because too many people want to buy the bonds. The maximum yield investors demanded was 0.6%, just 10 basis points (bps) above the previous policy cap. The promise of an extra 10-20 bps of JGB yield means 10-year JGBs hedged from dollars into yen can yield upwards of 6%. As per BOJ data, lifers and pension funds held roughly 26% of a 1,132 trillion yen ($7.93 trillion) JGB market at the end of 2019.

Persons: It's, we've, Ales Koutny, Rong Ren Goh, BOJ, Tomoya Masanao, Masanao, Rae Wee, Tom Westbrook, Harry Robertson, Alun John, Vidya Ranganathan, Himani Sarkar Organizations: Bank of Japan, JGBs, Vanguard Asset Management, Eastspring Investments, Foreigners, U.S, Nippon Life, Asia Pacific, Thomson Locations: SINGAPORE, TOKYO, United States, Europe, Singapore, JGBs, Belgian, Japan, PIMCO, Sydney, London

SYDNEY, Aug 1 (Reuters) - Australia's largest pension fund, AustralianSuper, has appointed senior executives to its London office as part of the rapidly growing fund's push to expand its presence overseas. The A$300 billion ($201.39 billion) fund on Tuesday appointed six executives to investment, risk and corporate affairs roles, including Carl Astorri to Head of Investments, Europe; and John Normand, formerly head of cross-asset strategy at J.P. Morgan, to Head of Investment Strategy. Deputy chief investment officer Damian Moloney, who is based in London, said the office was an "important investment engine" for AustralianSuper. AustralianSuper expects to grow to A$500 billion in member assets within five years and will deploy roughly 70% of its inflows to global markets. The fund plans to triple its global team to 300 within three years, spread across its London and New York offices plus a small contingent in Beijing.

Persons: Carl Astorri, John Normand, Morgan, Damian Moloney, Lewis Jackson, Gerry Doyle Organizations: SYDNEY, Investments, Investment Strategy, Thomson Locations: Europe, London, Australia, New York, Beijing

☆ Pound's mini-budget dip made UK's Brexit bill dearer
▼ + stars: | 2023-08-01 | by ( Andy Bruce | ) www.reuters.com time to read: +3 min

In previous years, the Treasury's "reportable losses" have ranged between zero and a few million pounds. This 855 million-euro payment cost Britain 764 million pounds on a day when 1 pound would buy only 1.12 euros. Back in April 2022, when the EU updated Britain's payment schedule for June through September, it assumed an exchange rate of around 1.18 euros per pound - equating to monthly payments of 719 million pounds rather than 764 million pounds. Still, that small net gain represents a sharp drop from March 2022 when it stood at 91.2 million pounds - with the payment on Sept. 30 a conspicuous loss-maker. Economists put the broader costs of the mini-budget episode - stemming from loss of investor confidence and higher market interest rates - in the billions of pounds.

Persons: Dado Ruvic, Liz Truss's, James Murray, Kwasi Kwarteng, Mark Potter Organizations: REUTERS, European Union, Britain, Treasury, Labour Party, Reuters, Thomson

☆ Europe’s listless IPOs are red flag for big floats
▼ + stars: | 2023-07-31 | by ( Pamela Barbaglia | ) www.reuters.com time to read: +4 min

And so far, the performance of the floats that have got away has been relatively poor. It’s a major red flag for larger IPO candidates, like CVC Capital Partners or EQT’s (EQTAB.ST) Galderma. Only 65 companies decided to brave choppy stock markets in Europe, raising $6.6 billion in overall proceeds, according to Dealogic data. Italian betting group Lottomatica (LTMC.MI) and German web-hosting company IONOS (IOSn.DE) priced at the bottom of their initial ranges. Dealogic data shows that IPOs in the region raised a total of $6.6 billion between the start of 2023 and July 20.

Persons: Breakingviews, Thyssenkrupp, Nucera, Hidroelectrica, Liam Proud, Oliver Taslic Organizations: Reuters, Capital Partners, underwriters, Bankers, Swiss, Reuters Graphics Reuters, Thomson Locations: Europe, Romanian, Saudi, Swedish

LONDON/SYDNEY, July 31 (Reuters) - Commercial real estate investors and lenders are slowly confronting an ugly question - if people never again shop in malls or work in offices the way they did before the pandemic, how safe are the fortunes they piled into bricks and mortar? WALL OF DEBTGlobal banks hold about half of the $6 trillion outstanding commercial real estate debt, Moody's Investors Service said in June, with the largest share maturing in 2023-2026. U.S. banks revealed spiralling losses from property in their first half figures and warned of more to come. Borrowers in the UK real estate holding & development category were 4% more likely to default. But the whale could be commercial real estate in the U.S.".

Persons: Richard Murphy, Jeffrey Sherman, Charles, Henry Monchau, Bank Syz, Jones Lang LaSalle, Savills, JLL, Dhara Ranasinghe, Huw Jones, Clare Jim, Kirsten Donovan Organizations: Employers, UK's Sheffield University, Reuters, Investors, Moody's Investors Service, Fed, Federal, Bank, Suisse, Washington D.C, HSBC, Capital Economics, Thomson Locations: SYDNEY, London, Los Angeles and New York, U.S, New York, Beijing, San Francisco, Tokyo, Washington, Shanghai, North America, Hong Kong

☆ BofA discusses the outlook for Japanese government bond yields
▼ + stars: | 2023-07-28 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailBofA discusses the outlook for Japanese government bond yieldsClaudio Piron of BofA Securities says many long-term financial institutions, insurance companies and pension funds in Japan have a "strong appetite" for bonds.

Persons: BofA, Claudio Piron Organizations: BofA Securities Locations: Japan

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