Monthly Archives: May 2020
Powell says GDP could shrink more than 30%, but he doesn’t see another Depression
(CNBC)The U.S. economy could shrink by upwards of 30% in the second quarter but will avoid a Depression-like economic plunge over the longer term, Federal Reserve Chairman Jerome Powell told “60 Minutes” in an interview aired Sunday. The central bank […]
Dow futures jump 300 points, rebounding from last week’s losses
(CNBC) Futures contracts tied to the major U.S. stock indexes rose in early Monday morning trade as investors pored over comments from Fed Chairman Jerome Powell on the state of the economy, in light of last week’s market losses. Dow […]
Coronavirus crisis heralds major changes to the hedge fund/prime broker dynamic
(Hedgeweek) With the broader hedge fund industry facing multiple challenges around rising costs, squeezed profits, and a shifting regulatory backdrop, the prime brokerage sector will need to juggle future disruptions and sweeping changes in client activity as a result of […]
Despite COVID-19 challenges, capital flocked to mega VC funds in Q1 2020
(Opalesque) Raising capital in Q1 2020 was a challenge for some venture capital firms with the COVID-19 pandemic roiling economies across the globe.Just 83 US-based venture capital funds held a final close, down from 109 in Q1 2019, said a […]
100 largest US public plans’ funding rebounds significantly in April
(Opalesque) Funding for public pensions in the US in April rebounded significantly from the first quarter of 2020, with an aggregate 5.92% investment return for the month, after Q1’s dismal -10.81% asset performance. April’s market gains led to a $200 […]
SoftBank OKs $4.7 billion in stock buybacks; Jack Ma resigns from board
(Marketwatch) SoftBank Group Corp. 9984, +1.02% said late Sunday, Eastern time, that longtime board member Jack Ma has resigned, and the company announced up to $4.7 billion in share buybacks. Ma, the co-founder of Alibaba BABA, +1.18%, has long been […]
Bankrupted JC Penney plans to spin its properties into separate real estate company
(CNBC) A piece of J.C. Penney’s proposal to emerge from bankruptcy includes spinning its real estate into a publicly traded real estate investment trust. As part of a plan filed with the bankruptcy court, Penney would reorganize into a new […]
Stocks could be stuck in a range until there’s more proof reopenings are reviving the economy
(CNBC)Coming off a volatile week, analysts expect stocks to continue navigating choppy trading as investors try to build a view of what the economy will look like once states reopen. Recent data on April employment and consumer spending show the […]
SEC Charges Companies and CEO for Misleading COVID-19 Claims
(HedgeCo.Net) The Securities and Exchange Commission has announced charges in two cases involving companies that claimed in press releases to offer products to combat the COVID-19 virus – one against Applied BioSciences Corp. and one against Turbo Global Partners, Inc. […]
CTAs gained 1.43% through the end of April
(Opalesque) As the economic toll of the novel coronavirus mounted, managed futures posted another positive month in April and gained 0.12% according to the Barclay CTA Index, compiled by BarclayHedge, a division of Backstop Solutions. Year-to-date, CTAs gained 1.43% through […]
COVID-19: Preqin’s view of the impact on alternatives
(Opalesque) The industry faces short-term disruption due to the pandemic, but the longer term impact is more positive COVID-19 is having a sizeable impact on the business operations of both fund managers and investors, reports research house Preqin. Disruption caused […]
COVID-19: With a total of 963 deals aggregating $27bn in Q1, 2020, US venture capital deals fell 19%
(Opalesque) Following a strong 2019, venture capital deal flow in the US slowed in Q1 2020 as COVID-19 introduced practical challenges for dealmakers, said a study. A total of 963 deals were completed in the US for an aggregate $27bn […]