PerpetualDiscounts now yield 5.68%, equivalent to 7.38% interest at the standard conversion factor of 1.3x. Long corporates yield 5.10%, so the pre-tax interest-equivalent spread (in this context, the “Seniority Spread”) is now 230bp, a slight …
Search Results for: performance
September 2, 2025
The Institute for Supply Management (ISM) survey came out today: U.S. manufacturing contracted for a sixth straight month in August as factories dealt with the fallout from the Trump administration’s import tariffs, with some manufacturers …
MAPF Portfolio Composition: August 2025
Turnover remained very low at 4% in August. Sectoral distribution of the MAPF portfolio on August 29, 2025, was: MAPF Sectoral Analysis 2025-08-29 HIMI Indices Sector Weighting YTW ModDur Ratchet 0% N/A N/A FixFloat 0% …
August 29, 2025
Nothing much happened today in the continuing saga of the Lisa Cook – Trump lawsuit: An emergency court hearing over President Donald Trump’s attempt to fire Federal Reserve Governor Lisa Cook ended with no immediate …
August 28, 2025
Continuing the Trump-Cook reporting from yesterday, Lisa Cook has filed her lawsuit: Federal Reserve Governor Lisa Cook is suing to keep her job on the board, which helps set interest rates, after President Donald Trump …
August 27, 2025
To continue the Trump-Cook reporting from yesterday … Janet Yellen has weighed in: Former Federal Reserve Chair and Treasury Secretary Janet Yellen slammed President Trump on Wednesday for moving to fire Fed board of governors …
August 26, 2025
Lisa Cook is fighting Trump’s attempt to fire her: Federal Reserve Governor Lisa Cook’s attorney, Abbe Lowell, announced on Tuesday he is filing a lawsuit to challenge President Donald Trump’s attempt to fire her on …
August 25, 2025
Trump has crossed a bright line: President Donald Trump on Monday said he has fired Federal Reserve Governor Lisa Cook, according to a letter addressed to her posted on his social media — the first …
August 22, 2025
Powell gave his anticipated speech at Jackson Hole: “The balance of risks appears to be shifting,” Mr. Powell said in his final speech as Fed chair at an annual conference hosted by the Reserve Bank …
August 21, 2025
So there’s more on the attempt to discredit Lisa Cook of the Fed: A Justice Department official is set to probe Federal Reserve Governor Lisa Cook after she was accused by a member of President …