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"My daddy works at Morgan Stanley😎"
Q1 private credit returns were nearly double of PE, all major US banks passed the Fed's stress test, the US convertibles market is booming, consultants are reaping big from AI-related work, and an ex-Segantii trader's pay lawsuit took an embarrassing turn.
Much Needed European Charity
US credit spreads widened amid political uncertainty, Asian L/S strategies are beating out global peers, emerging market currencies are struggling, Carlyle is betting on a slow energy transition, and American tourists are driving Europe's economic engine.
Whole new meaning to 'Netflix & chill'
Golden Goose abandoned its IPO at the last-minute, Point72 is readying a new AI L/S fund, Bayview re-ignited a 2008-era CDS trade, UK reclaimed Europe's stock market crown, an OpenAI co-founder debuted his own startup, and Netflix launched an ambitious retail experience.
French Markets Surrendered
Bonjour folks...European markets got rekked last week as political uncertainty rattled traders. But as the French famously say "Après la pluie, le beau temps" so we'll stay hopeful that things turn around. Reminder, markets are closed Wednesday for Juneteenth so hope y'all enjoy a short week ahead🙏