A Fed pivot could be devastating:
Since the Fed turned dovish in December, financial conditions have eased dramatically.
We have seen the S&P 500 make new all time highs, IPO activity is up, credit spreads have tightened and M&A is back.
Consumers have benefitted from a rise in asset prices and investors are piling into stocks.
Apollo says this is similar to what we saw in the 1970s when inflation rebounded to well over 10%.
If we are really on track for a "soft landing," why do we need lower ra...

High-grade bond US issuers are on track to break first-quarter issuance records, with $27 billion issued this week and year-to-date volume reaching $466 billion. The $510 billion record for the first three months of a year is within reach if the current pace continues.
Despite higher Treasury yields, robust demand and favorable pricing conditions are driving corporate borrowers to tap the market before potential economic uncertainties arise. Is...

New York Community Bancorp (NYCB) late Monday said it closed a $1 billion equity investment from a group of firms led by former Treasury Secretary Steven Mnuchin's Liberty Capital.
The bank announced its intention to propose a one-for-three reverse stock split to shareholders.
Mnuchin and fellow investors Milton Berlinski and Allen Puwalski, as well as former Comptroller of the Currency Joseph Otting, joined the troubled lender's...

Markets are currently in a state of anticipation, with all eyes on the upcoming Federal Reserve policy announcement. Traders are pricing in a 50% chance of a US interest rate cut in March, a sentiment reinforced by the expected slowdown in the PCE deflator gauge. The focus is now on Fed Chair Jerome Powell's post-meeting speech for indications of a dovish pivot, which could ignite market expectations for rapid rate cuts. The pressure is on the Fed to signal a depar...