New rule to protect banks from hedge funds during financial crisis... [more]Komfie Manalo, Opalesque Asia: The U.S. Federal Reserve on Tuesday put forward a proposed new rule aimed at providing protection to big U.S. banks from hedge funds in case another major crisis hits the financial markets.
Under the proposed rule, investors will have to wait a full two days or
AIG lost $349m in hedge fund portfolio in Q1... [more]Komfie Manalo, Opalesque Asia: Large US insurance group AIG lost a net $183m for the first quarter 2016, year-on-year. The group blames the loss on the impact of market volatility on investments, as well as net realised capital losses and restructuring costs.
Its hedge fund portfolio made a n
Outlook - Two Sigma co-founder `very worried' machines will take jobs... [more]From Bloomberg.com: David Siegel, co-founder of $35 billion quantitative hedge fund Two Sigma, says he’s “very worried” that machines could soon cost large swaths of the global workforce their jobs. “Most people in the bulk of the job market are not involved in super-high-value jobs,” Siegel said at
Legal - Puerto Rico’s hedge fund deal may be first of many twists and turns... [more]From WSJ.com: Puerto Rico’s agreement Monday with hedge funds that own the bonds of its Government Development Bank underscores the many twists and turns likely ahead as the U.S. territory seeks to restructure some $70 billion of obligations that it says it can’t pay. The deal, announced the same da
Europe - Hedge fund boss Paul Marshall to make Brexit donation... [more]From Cityam.com: Hedge fund boss Paul Marshall is set to make a large donation to the campaign for the UK to leave the European Union. Marshall, a co-founder of one of the City’s most successful hedge funds Marshall Wace, will donate in excess of £100,000 to Vote Leave.
Marshall only decided t
Commodities - Risks rise as hedge funds place record bet on oil... [more]From Reuters.com: Hedge funds increased their net long positions in Brent and WTI derivatives by 7 million barrels to a record 663 million barrels in the week ending April 26. Even though oil prices have already risen by roughly $20 per barrel (70 percent) from their low in January, hedge funds are
News Briefs - The biggest fight in Treasuries pits Citadel against Citigroup... [more]Forget bulls against bears: There’s a bigger fight in the world’s benchmark bond market, and it’s all about data. In the past two months, the U.S. Treasury Department has received 51 letters from banks, traders, fund managers, trade groups and academics as part of its review of the structure of the