Monthly Archives: April 2020
UBS reports net income up 40% from a year ago, but warns coronavirus will lead to loan losses
(CNBC) UBS reported Tuesday that net profit had risen by 40% in the first quarter of 2020, but warned of additional loan losses as a result of the coronavirus pandemic. Net profit attributable to shareholders came in at $1.6 billion […]
U.S. payroll protection program: What has changed in round two?
(Reuters) – The Small Business Administration on Monday began allowing lenders to process $310 billion in funds for the second round of its program to help cover payroll costs of small businesses hurt by the novel coronavirus disruption. To read […]
Covid-19 oil shock “dominating” trading decisions
(Hedgeweek) Doug King, CEO and CIO of RCMA Capital’s long-running Merchant Commodity Fund, has described Covid-19 as an “out-and-out demand shock” to oil markets that cannot be solved or cured by governments and central banks To read this article:
The Fed won’t move on rates this week, but here are some other things it could do
(CNBC) After unleashing the most aggressive programs to support markets and the economy in its history, the Federal Reserve is likely to pause any additional initiatives until it has more information about how those moves are working and what lies […]
Investors to challenge Neiman Marcus bankruptcy loan, push for sale
(Reuters) – An investor group that comprises investment firm Mudrick Capital Management LP and Daniel Loeb’s hedge fund Third Point LLC plans to challenge a $600 million financing package that Neiman Marcus Group has lined up for its looming bankruptcy, […]
Scaramucci’s SkyBridge hit with heavy redemption requests as fund fell:
(Reuters) – Investors in SkyBridge Capital asked for hundreds of millions of dollars back after the fund suffered a 23% loss in March when investments made by its debt-focused hedge fund managers soured, Anthony Scaramucci wrote in a letter to […]
Hedge funds and private equity firms won’t get PPP loans-SBA
(Reuters) – Hedge funds and private equity firms are not eligible for the types of U.S. government loans designed to provide relief to small businesses from the economic hardship of the coronavirus outbreak, the Small Business Administration said on Friday. […]
Blackstone’s hedge fund investments tumble 8 per cent during “unprecedented” Q1 sell-off
(Hedgeweek) Blackstone saw its hedge fund performance fall more than 8 per cent during a torrid first quarter – but the world’s largest alternative investment manager has grown its overall assets over the past year, and now has USD150 billion […]
Stock futures positive as oil declines and traders weigh prospects of re-opening the economy
(CNBC) Stocks futures were higher on Sunday night, as oil prices fell, while investors assessed the possibility of re-opening the global economy after the coronavirus outbreak. Dow Jones Industrial Average futures were up 113 points, implying a Monday opening gain […]
White House economic advisor Kevin Hassett says unemployment rate will approach Great Depression
(CNBC) White House economic advisor Kevin Hassett warned on Sunday that unemployment could hit levels not seen since the Great Depression as the economy contracts dramatically while businesses in most parts of the nation remain shuttered due to the coronavirus […]
Boeing’s big week includes first-quarter results and government aid deadline
(CNBC) In the next week, Boeing will hold its annual meeting, report first-quarter results and face the application deadline for a multi-billion dollar aid package from the federal government. To read this article:
Trend-following hedge funds continue to advance
(Hedgeweek) Trend-following hedge fund strategies are maintaining their recent positive momentum, with Société Générale’s CTA indices broadly showing further gains in April as fresh turmoil in commodities markets underpin continuing market uncertainty. To read this article: