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    • Friday, 17 November, 2023
      Israel
      Israel raises $6bn in borrowing bonanza to fund war against Hamas

      Yield on debt is sharply higher than before the conflict began

      The Bank of Israel building in Jerusalem
    • Friday, 17 November, 2023
      US Treasury bonds
      Leave Treasury basis trade hedge funds alone!

      The Managed Fund Association bravely stands up for its members

    • Friday, 17 November, 2023
      Unhedged
      Olivier Blanchard on debt explosions Premium content

      What to do when r - g = 0

      Olivier Blanchard
    • Friday, 17 November, 2023
      Oil & Gas industry
      Oil and gas firms face virtually no extra borrowing costs, S&P finds

      Rating agency says investors ignore ESG when lending to some fossil fuel companies

      A flame rises from a gas flare stack at an oil refinery
    • Friday, 17 November, 2023
      Markets InsightMatt King
      The counterintuitive truth about deficits for bond investors

      Most of the time, higher government debt levels have been associated with lower yields, not higher

      Montage showing logos of Tokyo Bank and the European Central Bank, with Federal Reserve building in foreground
    • Thursday, 16 November, 2023
      Companies’ confusing cash hoards

      Why aren’t they getting spent?

    • Thursday, 16 November, 2023
      US Treasury bonds
      Officials seek more transparency for US Treasury market

      Regulators say they are particularly keen to get more data from less liquid sections of the $26tn market

      Traders work on the floor of the New York Stock Exchange
    • Thursday, 16 November, 2023
      Blackstone Group LP
      Blackstone borrows to boost lending power of $52bn credit fund

      Private equity firm raises funds through collateralised loan obligation secured by its portfolio

      Signage outside the Blackstone headquarters in New York
    • Thursday, 16 November, 2023
      Exchange traded funds
      ‘Dark green’ Article 9 fund upgrade fails to materialise

      Just 15 funds were moved up from the EU’s Article 8 classification in the third quarter

      A wind turbine in the early morning mist
    • Thursday, 16 November, 2023
      Markets InsightTej Parikh
      Central banks’ trillion-dollar problem

      Bloated balance sheets need to come down without endangering financial stability

      Federal Reserve building during a renovation in Washington
    • Wednesday, 15 November, 2023
      Barclays PLC
      Barclays receives strong demand for AT1 bond as market recovers

      Investor interest in debt yielding about 9.6% comes after UBS received $36bn of demand last week

      Barclays head offices in Canary Wharf
    • Wednesday, 15 November, 2023
      LexCamilla Palladino
      The Lex Newsletter: threat of junk inspires no funk for Italy Premium content

      Despite country’s huge debt load, politicians, central banks and rating agencies prevent it tumbling into the abyss

      Italian Prime Minister Giorgia Meloni
    • Wednesday, 15 November, 2023
      Moral Money
      Investors pile into Brazil’s first sustainable bond Premium content

      Also in today’s newsletter, private capital struggles to rise to the global climate challenge

      Lula with indigenous people in traditional dress
    • Wednesday, 15 November, 2023
      News in-depthUS Treasury bonds
      Cyber attack shines light on role of China’s largest lender in US Treasury market

      Disruption caused by hack of ICBC shows how bank has become an important link in $26tn market

      Montage featuring ICBC’s logo, US dollar and the US Treasury building
    • Wednesday, 15 November, 2023
      Reforming America’s lenders of second-to-last resort

      Hello unintended consequences!

    • Tuesday, 14 November, 2023
      US inflation
      US stocks and bonds jump after inflation falls to 3.2%

      Annual rise in consumer price index slows more than economists had forecast

      A customer shops at an Amazon Fresh grocery store in Schaumburg, Illinois
    • Tuesday, 14 November, 2023
      Asset allocation
      Investors snap up bonds and stocks in bet interest rates have peaked

      Fund managers’ holdings of cash fell to a two-year low this month, Bank of America survey shows

      Traders work on the floor of the New York Stock exchange
    • Tuesday, 14 November, 2023
      FT SeriesHigher for longer
      Stock investors face up to tough reality of higher rates

      Fund managers turn to new data sources to woo clients as flows into equity funds dry up

    • Tuesday, 14 November, 2023
      Ransomware
      Wall Street and Beijing fight fallout of ransomware attack on China’s biggest bank

      New York arm of ICBC proposed using a USB stick to transmit data after its systems were compromised

      A montage of the logo for ICBC and the front of the US Treasury building
    • Monday, 13 November, 2023
      LexBankruptcy
      Corporate debt: PIK interest can dig borrowers out of trouble — temporarily Premium content

      Companies, including Carvana, are turning to form of restructuring to preserve cash

      A Carvana vending machine in Daly City, California, US
    • Monday, 13 November, 2023
      UnhedgedRobert Armstrong
      Why consumers feel so glum Premium content

      And the costs of monetising the debt

    • Monday, 13 November, 2023
      Inside BusinessJonathan Guthrie
      The real regulatory risk highlighted by a booming US Treasury arbitrage

      Basis trade shows challenge for watchdogs is to understand hedge funds and prime brokers as symbiotic organisms

      Ken Griffin, chief executive and founder of Citadel
    • Saturday, 11 November, 2023
      The Long ViewJohn Plender
      Private equity faces a reckoning

      The change in circumstances is dramatic after decades of triumphalist money making

      George Roberts and Henry Kravis, of KKR, pictured at the closing of the RJR Nabisco deal in the late 1980s
    • Friday, 10 November, 2023
      US economy
      Moody’s lowers outlook on US debt to ‘negative’

      Rating agency says move reflects drastic rise in Treasury yields and ‘political divisions’

      The Treasury building in Washington
    • Friday, 10 November, 2023
      Central banks
      Market skittishness complicates central banks’ interest rate plans

      Falling government bond yields loosen the tight financial conditions policymakers want to create

      Christine Lagarde
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