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Insider transactions at Snowflake Inc. revealed significant stock sales, with Director Frank Slootman selling 59,617 shares for over $10.5 million, reducing his ownership by 22.22%. Following these trades, insiders have sold a total of 264,278 shares worth approximately $42.5 million in the last three months. Currently, insiders hold 7.80% of the company's stock, while institutional investors own 65.10%.
Investment banks are projected to lose up to $50 billion in annual revenue by 2027, primarily due to competition from private credit and electronic market makers. While they may recover $15 billion by increasing lending to illiquid private markets, this raises concerns about the risks associated with shadow banking, as highlighted by the Bank of England's recent stability report.
Active fund managers have increased their exposure to specific sub-sectors amid recent market volatility, seizing opportunities to adjust their portfolios. Over the past six months, mutual fund investments have surged by 127%, reaching a current market value of Rs 10,511 crore as of October 31, 2024.
BlackRock Inc. is close to finalizing a deal to acquire HPS Investment Partners, positioning itself among the leaders in private credit. The transaction, expected to be announced soon, could value HPS at $12 billion or more, with BlackRock using a combination of cash and stock for the purchase.
Goldman Sachs is implementing a trading strategy aimed at achieving significant gains before the year's end. The firm is focusing on capitalizing on key opportunities in the market to enhance its performance as the year concludes.
The Nifty index ended November with a modest 1% decline, but futures rollovers surged to 79.34%, indicating increased trader hedging amid expectations of a potential turning point. As December begins, open interest has risen to 1.29 crore shares, reflecting aggressive short positioning and a higher cost of carry at +0.97%, suggesting bears are betting on continued negative sentiment.
The rise of corporate bond ETFs is driving a surge in large portfolio trades, with transactions exceeding $500 million now making up nearly a quarter of US corporate bond trading activity, a significant increase from less than 1% in 2018. As of last month, these portfolio transactions accounted for about 25% of all high-grade corporate bond trades between clients and dealers, according to Barclays Plc.
Despite a softening advertising market, college football remains a lucrative draw for networks, with Disney's platforms experiencing record viewership this season due to the expanded 12-team College Football Playoff format. Advertisers are seeing increased engagement, with Disney's ad slots proving significantly more effective than competitors. As a result, Disney has sold out most of its advertising spots for the upcoming championship games, reflecting a strong demand for college football content.
Maria Angelicoussis, Greece’s wealthiest shipping magnate, is shifting her family office's focus towards publicly traded investments after achieving significant gains in private markets. Under the leadership of former hedge fund executive Laura Lavers, Nicrone, the investment firm of the Angelicoussis Group, is moving away from its previous heavy allocation to private markets.
The Bank of England has warned that non-bank financial institutions are often ill-equipped to handle crises, lacking the ability to anticipate the behavior of counterparties, investors, and markets during stressful periods. This assessment follows a year-long examination of how various market participants, including hedge funds and asset managers, would react to sudden shocks in global financial markets.
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