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Investors covered short positions in NSE Nifty and Bank Nifty ahead of the Maharashtra and Jharkhand election results, leading to significant unwinding in the November derivatives series. Nifty surged to reclaim 23,900, with key resistance at 24,000 and support at 23,500, as FIIs increased net long positions, reflecting a cautiously optimistic market sentiment.
President-elect Donald Trump has nominated Scott Bessent, head of macro hedge fund Key Square Group, as the next US Treasury Secretary. Trump highlighted Bessent's strong support for the America First Agenda, aiming to strengthen the US economy as the nation approaches its 250th anniversary.
Investor Scott Bessent has built a notable career in finance, having worked alongside macro investment billionaire George Soros and renowned short seller Jim Chanos. He also has experience running his own hedge fund, showcasing his diverse expertise in the investment landscape.
Trump has appointed hedge fund manager Scott Bessent as Treasury Secretary, leveraging his investment expertise to navigate a slowing global economy and the dollar's status. Bessent advocates for bank deregulation and supports a friendlier approach to cryptocurrency, earning praise from Republicans and Wall Street figures, while facing criticism from Democrats and progressive groups for his ties to the financial elite.
President-elect Donald Trump is set to nominate hedge fund executive Scott Bessent as Treasury secretary, a role critical for advancing his economic agenda. Bessent, founder of Key Square Group, is known for his market expertise and advocacy for tariffs, deregulation, and energy independence. However, his previous ties to George Soros may pose challenges during the confirmation process.
US collateralized loan obligation (CLO) sales have surged to nearly $185 billion this year, surpassing the previous record of $184.7 billion. This marks the third consecutive year of record issuance since 2018, with sales exceeding the $183.8 billion set in 2021 and the earlier benchmark of $130.4 billion.
The speculative frenzy on Wall Street is intensifying, with gamblers pouring billions into leveraged markets despite a cooling trend in traditional stocks and corporate credit. Heavy trading and significant price fluctuations are evident in assets like cryptocurrencies and leveraged exchange-traded funds, even as volatility in the S&P 500 and Nasdaq 100 begins to stabilize.
Hearthside Food Solutions, a snack manufacturer involved in a child labor scandal, has filed for Chapter 11 bankruptcy in Texas after failing to refinance its debt. The privately-owned company, known for products like frozen burritos and crackers, reported assets and liabilities between $1 billion and $10 billion. Bloomberg had previously indicated that a bankruptcy filing was imminent.
European buyout firm Permira has launched its first collateralized loan obligation (CLO) in the US market, pricing a $430.6 million deal as issuance approaches record levels. This move, arranged by JPMorgan Chase & Co., aims to expand Permira's presence in the $1 trillion CLO market, which is a key buyer of leveraged loans.
Bill Ackman's hedge fund, Pershing Square, is struggling due to a significant investment in Universal Music Group, which has declined approximately 14% this year. Despite a strong overall market, the fund's performance is hindered, marking its second-worst year since 2018. Ackman proposed moving Universal's listing to the U.S. to boost its stock price, but the company denied his claims of having the right to enforce such a change.
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investors cover shorts as market rallies ahead of election results
02:10 23.11.2024
Trump nominates Scott Bessent as Treasury Secretary to advance economic agenda
00:54 23.11.2024
investor scott bessent's journey through finance and hedge fund management
00:50 23.11.2024
Trump appoints Scott Bessent as Treasury Secretary amid economic challenges
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00:33 23.11.2024
Trump nominates Scott Bessent as Treasury secretary amid economic challenges
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00:25 23.11.2024
us clo sales exceed 185 billion setting new annual record
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hearthside food solutions files for chapter 11 bankruptcy amid debt struggles
20:23 22.11.2024
permira launches first us clo deal amid booming market activity
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19:32 22.11.2024
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