Hedge fund billionaire Bill Ackman to launch a NYSE-listed fund for regular investors
The hedge fund billionaire is planning to launch a closed end fund, investing in 12 to 24 large-cap, investment grade, “durable growth” companies in North America, according to a regulatory filing. There will be no minimum investment. Unlike traditional hedge funds that typically charge a 2% management fee on the total assets under management plus a performance fee of 20% of the fund’s profits, Ackman’s new fund doesn’t have a performance fee in place. source : cnbc
SPX 4,999.89 ......So Close ....
source : bloomberg
The US government sold a record $42 billion of 10-year notes Wednesday at a lower-than-anticipated yield.
The notes were awarded at 4.093%, compared with a when-issued yield of about 4.105% moments before 1 p.m. New York time, the bidding deadline. The lower yield indicates stronger demand than traders anticipated. The auction result broke a streak of tails — or a weaker result for the previous four monthly sales . source : bloomberg
Are Americans Taking Over English Football ?
More than a third of the 92 professional teams in England’s top four leagues now have some form of US ownership. source : bloomberg
A nice summary of Fed officials speeches since January 31st decision
Source: Bloomberg
JUST IN: Spot Bitcoin ETFs traded over $1 billion in volume yesterday
Bloomberg's James Seyffart
India is close to finalising a first-of-its-kind trade deal
This first-of-its-kind trade deal that could see a small group of European nations invest as much as $100 billion (CHF87 billion) over 15 years in exchange for easier trade access to the world’s most populous nation, according to people with knowledge of the matter. The European Free Trade Association (EFTA), which comprises Switzerland, Norway, Iceland and Liechtenstein, made a commitment to invest in India as part of a trade pact that’s in the final stages of negotiations, the people said, asking not to be identified as the talks are still ongoing. The contours of the deal have been agreed and deliberations currently centre on the final investment amount, which could be as much as $100 billion over 15 years, some of the people said. While India wants the commitment to be legally binding, one of the European officials said the amount will likely be framed as a goal, with no legal means to claim it included in the language of the agreement. If finalised, it would mark the first time an investment commitment of this nature is secured by India as part of a free trade agreement. As mentioned by Ritesh Jain, India is the biggest beneficiary of Ukraine/Russia war. A non aligned country with good relationship with everybody , young population is attracting investment commitment from across the world.
Europe deindustrialization continues
German industrial production fell for 7th consecutive month in December, the longest decline in the history of the data series. The 1.6% MoM decline came as a huge downside surprise. Source: Bloomberg, HolgerZ
