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 ...

The US Government Accountability Office is assessing the risks posed by private credit, in a sign that Washington is further scrutinizing the impact of the $1.7 trillion industry on the broader economy https://t.co/IkfF0nzeio ...

I think we've seen this movie before. The expectation is that this lasts a few days, but who knows. And where I'm really focused right now, given that the fiscal impact is supposed to be minimal, it's really turning my attention to the labor market in particular.So we know that there will be a for a furlough of around 40% of federal workers, around 900,000 and a delay in pay for all federal workers. Now, the Trump administration has said that they're looking to make some of that permanent, and that could pe ...

Private credit firms are weighing up providing a debt package worth around £1.3 billion to finance a potential take-private deal for JTC https://t.co/lEhoq5R6gP ...

YOU CHOOSE WRONGLY. ♪ SHERY: THIS IS "THE ASIA TRADE. " AVRIL: I AM THE MILKEN INSTITUTE ASIAN SUMMIT ON SINGAPORE. A SOFT OPEN FOR ASIA AFTER BULLISH TECH MOMENTUM SAVES WALL STREET FROM LOSSES. OPENAI'S SHARE SALE BLISTERING OPTIMISM ABOUT THE SECTOR. TESLA SHARES GREEN AS INVESTORS BET A RECORD QUARTER OF SALES WILL BE HARD TO REPEAT. AND CRUNCH TIME FOR JAPAN'S RULING PARTY WITH ITS LEADERSHIP VOTE AND LAST CHANCE TO AVOID DRIFTING FURTHER INTO POLITICAL PERIL. AND SOME GREAT GUESTS COMING UP AT THE MIL ...

Christian Stracke, President at PIMCO, discusses the investment opportunities in the private credit market. He speaks with Avril Hong from the sidelines of the "Milken Institute Asia Summit" in Singapore. ...

AI data centers just happen to be in the right place, with the right narrative for private credit's hoard of cash, writes @shuli_ren (via @opinion) https://t.co/UM1Xq2ZwNt ...

Narrow banking might split the banking system into private credit and stablecoins. (via @opinion) https://t.co/jmNFpCBn35 ...

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].

Southeast Asia-focused alternative investment manager Indies Capital Partners Pte. has raised over $300 million for its fourth private credit fund https://t.co/T4jXvPeVXe ...