Brookfield's Insurer Trims Private Credit, Citing Crowded Trade
Brookfield Corp. 's insurance unit has pulled back from investments in private credit as surging demand from rival bidders pushes yields down.
Brookfield Wealth Solutions started to reduce its allocation to private credit six months ago, and is almost no longer investing in the asset class now, Chief Executive Officer Sachin Shah said at the Global Insurance Summit hosted by the Financial Times Wednesday in London. Demand has compressed yields, even as the underlying credit risk is the same and the covenants that protect creditors have become weaker.
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Miami Herald
6 hours ago
- Miami Herald
Trump's Iran strike could boost — or ruin — his troubled presidency
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Iran's proxies have carried out terrorist attacks as far away as Argentina, where Hezbollah was found responsible for the bombing that killed 85 people and wounded hundreds at the AMIA Jewish Community Center in Buenos Aires in 1994. There are many ways in which Trump's political gamble may go wrong, especially if Iran moved some of its enriched uranium into a secret location outside Fordo, or if it unifies Iranians behind their decrepit regime. But if Iran's regime falls, or agrees to a serious international nuclear monitoring agreement, Trump's faltering second term will get a second wind. Don't miss the 'Oppenheimer Presenta' TV show on Sundays at 9 pm E.T. on CNN en Español. Blog:
Yahoo
10 hours ago
- Yahoo
Dollar Confidence Is Waning, Bitwise CIO Warns—Is Bitcoin The New Safe Bet?
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Yahoo
2 days ago
- Yahoo
Stocks Settle Mostly Lower as Chip Makers Fall
The S&P 500 Index ($SPX) (SPY) Friday closed down -0.22%, the Dow Jones Industrials Index ($DOWI) (DIA) closed up +0.08%, and the Nasdaq 100 Index ($IUXX) (QQQ) closed down -0.43%. September E-mini S&P futures (ESU25) are down -0.21%, and September E-mini Nasdaq futures (NQU25) are down -0.40%. Stock indexes on Friday gave up an early advance and finished mostly lower on weakness in chip makers after a report from The Wall Street Journal stated that a top US official had told top global semiconductor makers that the US might revoke waivers for allies with semiconductor plants in China. Negative trade news also pressured stocks after the Financial Times reported that Japan had canceled a top-level trade meeting with the US, set for July 1, following a request from the Trump administration for Japan to increase its defense spending. 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T-notes on Friday recovered from early losses and moved higher on the weaker-than-expected Philadelphia Fed business outlook survey. Also, dovish comments from Fed Governor Waller pushed T-note prices higher when he said, "I think we have room to bring interest rates down as early as July." T-notes are still supported by safe-haven demand due to the possibility that the US might bomb Iran's Fordow nuclear complex. T-note prices also saw support from weakness in stocks. T-notes on Friday initially moved lower on reduced safe-haven demand after President Trump vowed to seek a diplomatic solution on Iran's nuclear program over the next two weeks. Also, rising inflation expectations are bearish for T-notes after the US 10-year breakeven inflation expectations rate Friday rose to a 2-week high at 2.34%. European government bond yields on Friday were mixed. The 10-year German bund yield fell -0.4 bp to 2.517%. The 10-year UK gilt yield rose +0.7 bp to 4.537%. 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Also, Meta Platforms (META), Nvidia (NVDA), and (AMZN) closed down more than -1%. In addition, Microsoft (MSFT) closed down -0.59%. However, Apple (AAPL) bucked the trend and closed up more than +2%. Tesla (TSLA) closed up +0.03%. Accenture (ACN) closed down more than -6% to lead losers in the S&P 500 after lowering its full-year operating margin forecast to 15.6% from a previous forecast of 15.6%-15.7%. Smith & Wesson Brands (SWBI) closed down more than -19% after reporting Q4 adjusted EPS of 20 cents, weaker than the consensus of 23 cents. Sarepta Therapeutics (SRPT) closed down more than -3% after William Blair downgraded the stock to market perform from outperform. Johnson Controls International (JCI) closed down more than -1% after Oppenheimer downgraded the stock to perform from outperform. Kroger (KR) closed up more than +9% to lead gainers in the S&P 500 after reporting Q1 adjusted EPS of $1.49, better than the consensus of $1.45. CarMax (KMX) closed up more than +6% after reporting Q1 net sales of $7.55 billion, stronger than expectations of $7.52 billion. GMS Inc (GMS) closed up more than +24% after the Wall Street Journal reported that Home Depot had made an offer for the company, potentially setting off a bidding war with QXO Inc, which made a $5 billion offer for the company earlier this week. Circle Internet Group (CRCL) closed up more than +20%, adding to Wednesday's +34% surge after the US Senate passed stablecoin legislation setting up regulatory rules for cryptocurrencies pegged to the dollar. Mondelez International (MDLZ) closed up more than +2% to lead gainers in the Nasdaq 100 after Wells Fargo Securities upgraded the stock to overweight from neutral with a price target of $78. Fair Isaac Co (FICO) closed up more than +2% after its Board of Directors approved a stock repurchase program to acquire up to $1 billion of the company's outstanding common stock. Darden Restaurants (DRI) closed up more than 1% after reporting that Q4 comparable same-store sales rose 4.60%, stronger than the consensus of 3.46%. Earnings Reports (6/23/2025) Commercial Metals Co (CMC), FactSet Research Systems Inc (FDS), KB Home (KBH). On the date of publication, Rich Asplund did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. This article was originally published on Sign in to access your portfolio
