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Search resuls for: "Svea Herbst-Bayliss Carolina Mandl"


3 mentions found


☆ At Milken, investors praise bank rescue but brace for more drama
  + stars: | 2023-05-02 | by ( Svea Herbst-Bayliss Carolina Mandl | Svea Herbst-Bayliss | Carolina Mandl | ) www.reuters.com   time to read: +4 min
[1/2] David Hunt President and CEO, PGIM, speaks at the 2023 Milken Institute Global Conference in Beverly Hills, California, U.S., May 1, 2023. As Wall Street money managers, banking executives and pension fund managers gathered at the Milken Institute Global Conference, the main topic over cocktails on Sunday night and in conference rooms the following morning was JPMorgan Chase & Co's (JPM.N) purchase of First Republic Bank. Policymakers, executives and investors at the conference said constrained lending as a result of banking sector regulation could choke off credit to the economy. Nevertheless, betting against bank stocks has been a profitable endeavor this year, which has seen the high-profile failures of Silicon Valley Bank and Signature Bank, in addition to First Republic and a state-engineered rescue of Credit Suisse by the Swiss government. The KBW Regional Banking Index, which fell 2.7% on Monday, is down almost 23.6% year-to-date, while First Republic’s shares are off 97% since January.
☆ Fund managers at Milken eye fixed income as stocks, real estate lose luster
  + stars: | 2023-05-02 | by ( Svea Herbst-Bayliss Carolina Mandl | Svea Herbst-Bayliss | Carolina Mandl | ) www.reuters.com   time to read: +4 min
Instead, fixed income, which was unpopular when rates were low, is back in favor and seeing strong capital flows into products like bond funds, said fund managers at the Milken Institute Global Conference this week. Attendees also discussed whether federal regulators should raise FDIC deposit insurance after First Republic Bank was seized and sold to JPMorgan, and how markets will react to even higher interest rates and potentially more market volatility. Others warned that companies will soon have to refinance their debt at higher rates, making them less attractive. Instead, thanks to higher interest rates, fixed income is once again playing a bigger role in portfolios. "The Fed has helped us put the income back in fixed income," said Anne Walsh, Chief Investment Officer for Guggenheim Partners Investment Management.
☆ Hindenburg bet against India's Adani puzzles rival U.S. short sellers
  + stars: | 2023-02-01 | by ( Shankar Ramakrishnan Svea Herbst-Bayliss Carolina Mandl | Shankar Ramakrishnan | Svea Herbst-Bayliss | ) www.reuters.com   time to read: +5 min
[1/2] Indian billionaire Gautam Adani speaks during an inauguration ceremony after the Adani Group completed the purchase of Haifa Port earlier in January 2023, in Haifa port, Israel January 31, 2023. On Wednesday, a $2.5 billion sale of shares by one of its companies Adani Enterprises ADEL.NS was called off. Adani Group and the stock market regulator the Securities and Exchange Board of India (SEBI) did not respond to a request for comment. Cracking the code of how Hindenburg did the trade could lead to more short sellers taking positions against Indian companies, which have been rare, analysts said. But several bankers familiar with trading in Indian securities said the more profitable piece of the short seller’s bet would likely lie in the derivative trades it had placed.
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