JUST IN:ARK Invest, led by Cathie Wood acquires a $10M stake in Securitize, the leader in tokenization by TVL in digital assets.This makes Securitize the 8th largest position in ARK's Venture Fund, following major AI companies like OpenAI, Neuralink & SpaceX.Since inception, Securitize has issued $4.6B+ in tokenized assets, partnering with BlackRock, Hamilton Lane, and firms like Apollo.The tokenized asset market is set to explode from here with recent chatter about the CFTC allowing for traditional equitie ...

RT Sei (@SeiNetwork)Wall Street. Chainlink. PayPal. Apollo. Securitize.September on Sei:• Apollo ($840B AUM) deployed its Diversified Credit Fund with Securitize• Chainlink Data Streams live — U.S. Department of Commerce data, U.S. equities & 300+ global market feeds onchain• PayPal’s PYUSD0 launching on Sei — the onchain payment standard for 434M+ users worldwide• Canary Staked SEI ETF acknowledged by the SEC• Institutional custody from Crypto .com now live• Agora’s $170M AUSD0 coming to Sei, backed by Sta ...

Core Insights - The private credit sector is experiencing a significant sentiment shift, with firms like Apollo, Aries, Blue Owl, and KKR seeing notable declines [1] - In contrast, companies more exposed to private equity, such as TPG and Carile, have maintained stability [2] - Recent high-profile bankruptcies in the auto finance sector have triggered a broad selloff in publicly traded alternative firms, highlighting risks associated with overleveraged and subprime borrowers [2] Industry Analysis - Hedge fund manager Jim Chanos criticized the private credit market, drawing parallels to the subprime mortgage packaging during the 2008 financial crisis, suggesting that the $2 trillion private credit sector has similar vulnerabilities [3] - Chanos indicated that the structure of private credit, with multiple layers between the source and use of funds, poses risks, especially in bankruptcy scenarios where direct lenders are prioritized for repayment [3]

Hey Scott. Yeah, it's the private credit side of the business that has seen a real sentiment shift. Apollo, Aries, Blue Owl, and KKR seeing significant declines week to date.While those more exposed to private equity think TPG and Carile, they've held up okay. Two high-profile bankruptcies in the auto finance space leading to a broad-based selloff in the publicly traded alternatives firms. and First Brands bankruptcies, each within the last few weeks, have shed a new light on the risks of overlever and subp ...

TradFi & DeFi Integration - Apollo (840 billion USD AUM) deployed its Diversified Credit Fund with Securitize [1] - Agora's 170 million USD AUSD0 coming to Sei, backed by State Street & VanEck [1] - Canary Staked SEI ETF acknowledged by the SEC [1] Onchain Data & Infrastructure - Chainlink Data Streams live, providing U S Department of Commerce data, U S equities & 300+ global market feeds onchain [1] - Etherscan live with Seiscan, offering a trusted EVM explorer on the fastest EVM chain [1] Payments & User Adoption - PayPal's PYUSD0 launching on Sei, aiming to become the onchain payment standard for 434 million+ users worldwide [1] AI Integration - Kindred AI building the consumer layer of AI, bringing IP onchain as agentic companions [1] Institutional Adoption - Institutional custody from Crypto com now live [1]

I think in many respects we're still early innings. These are questions that we get from our clients all the time like winners and losers with blockchain, with AI, with quantum computing. And frankly, I don't know if we have all the answers.But what I think is exciting from an investment perspective is the ability to take advantage of these greater macro themes um and to ensure that there's that allocation because we know these spaces are really they have the potential to to disrupt uh exactly what the outc ...

Core Viewpoint - The current economic environment presents challenges for the Federal Reserve, particularly in relation to mortgage rates and housing market activity, which are critical for economic recovery and growth [1][2][5]. Mortgage Market - Mortgage applications have decreased by 21%, indicating a decline in refinancing and new purchases, which are essential for stimulating the housing market [2]. - The average mortgage rate is around 3% to 3.5% for existing homeowners, suggesting that significant reductions in rates are necessary to encourage movement in the housing market [4]. - A mortgage rate in the low five percent range is seen as a threshold that could positively impact housing activity [4]. Valuations and Market Risks - There are concerns about high valuations in certain market segments, particularly when PE ratios approach 22, which historically signals caution among investors [6][7]. - High valuations may lead to lower forward returns, emphasizing the importance of buying at lower valuations for better long-term performance [8][9]. - The sustainability of high valuations is questioned, particularly in isolated market pockets where forward earnings are significantly elevated [9]. Private Equity and Credit - The performance of private equity firms like Apollo and Blackstone has been strong, but there are concerns regarding the quality of assets being acquired [10][11]. - Blue, a private equity firm, is highlighted for its significant exposure to payment-in-kind loans, which could pose risks if economic conditions worsen [13]. - Despite the risks, Blue is considered an attractive investment opportunity if the economy does not enter a recession, given its high yield and potential for recovery [13][14]. Stock Picks and Investment Strategy - Companies like Pepsi and Merck are identified as undervalued relative to their historical PE ratios, presenting contrarian investment opportunities [15][16]. - Merck's strong performance and potential for innovation through M&A are noted, alongside its solid dividend yield and cash reserves [16][17].

Market Outlook - The current economic environment shows a dichotomy between data, bond market conditions, and stock market reactions as the year ends [2][3] - The two-year yield is significantly lower than the Fed funds rate, indicating potential risks for the Fed if it does not adjust its policy [3] Credit Market Conditions - Public credit conditions remain stable, with double B and triple C spreads indicating no significant deterioration [5] - Concerns are emerging in private credit, suggesting a need for increased attention to potential vulnerabilities [6] Sector Performance - Healthcare has shown some positive movement recently, but overall trends in defensive sectors like staples remain weak [8][9] - Biotech has been improving, while pharma and equipment sectors are still underperforming [9][10] Market Sentiment and Seasonality - Earnings are expected to remain strong, and the market anticipates Fed rate cuts, making it challenging to adopt a negative outlook [10][12] - Historical seasonality suggests that a down market in Q4 could lead to struggles in the following year, making Q4 performance a critical indicator [12] Global Market Dynamics - The global market shows involvement from various regions, including Japan, China, and Europe, indicating that the current market strength is not solely driven by a few stocks [14][15]

Apollo has been trading “billions of capital” in the secondary market, with its private assets priced to perfection and still delivering a handsome premium, says Natalia Tsitoura, the firm’s Europe head of private debt origination https://t.co/Yos3oH6Gbl ...

Apollo has "already been trading billions of capital in the secondary market"Natalia Tsitoura, Apollo's Europe Origination Partner, comments on access to private markets#BBGWomenMoneyPower https://t.co/D71n0UVSBN https://t.co/HaIsydiTfb ...