Financial News You Can Depend On

Elliott hedge fund gains in March, up 2.2% for year: client update

 

Paul Singer's Elliott International Ltd hedge fund gained an estimated 0.1% in March and is now up 2.2% for the year through the first quarter, according to an update sent to clients on Friday and...

Coronavirus fiscal fallout on U.S. muni issuers worries investors

 

Investors in the U.S. municipal bond market are growing increasingly worried over the ability of states, cities and other debt issuers to weather the financial fallout of the COVID-19 pandemic caused...

Global currency funds notch wins amid coronavirus volatility

 

Global currency fund managers racked up gains in the first quarter as they benefited from the extreme volatility that the coronavirus pandemic has stoked across financial markets.

Hedge fund Glenview off 30% as coronavirus weighs on portfolio

 

Glenview Capital Management, the hedge fund run by Larry Robbins, has lost roughly 30% in the first three months of 2020 as the spread of the new coronavirus hurt the healthcare facilities and...

Some U.S. direct payments will take months to reach Americans: congressional panel

 

Americans should start receiving direct payments from the U.S. government in mid-April to help them cope with the coronavirus pandemic, but some may not see the money until mid-September, according...

Yield-thirsty investors eye stock dividends as virus fears shrink bond payouts

 

Battered S&P 500 stocks may get fresh interest from investors turning to dividends in a world of shrinking bond yields.

U.S. financial industry asking SEC to delay broker disclosure rule, citing coronavirus: sources

 

The financial industry wants the U.S. Securities and Exchange Commission to hold off on parts of a new rule requiring brokers to disclose potential conflicts of interest, citing disruptions caused by...

Your money: How to adjust your autopay spending during the coronavirus pandemic

 

Coronavirus lockdowns might have caught a lot of people by surprise last month, but with April's new billing cycle, it is time for cash-strapped Americans to rethink automatic spending habits.

Multi-strategy hedge funds outperformed peers as market plunged

 

Multi-strategy hedge funds - those that bet on a broad array of markets using teams of traders, leverage and centralized risk management - have flourished as stocks ended their worst three months...

U.S. pension funds may pour $400 billion into stocks, lifting virus-hit markets: JP Morgan

 

U.S. pension funds that delayed rebalancing their portfolios are likely to pump about $400 billion into stocks over the next two quarters, analysts at JP Morgan said, providing a potential boost to...

Bond investor Jeffrey Gundlach bets stocks March lows to be surpassed in April

 

Bond investor and DoubleLine Capital Chief Executive Jeffrey Gundlach said on Tuesday he believes the coronavirus sell-off is not over yet and that the lows stocks hit in March will be surpassed in...

Invesco to sell all unquoted holdings in UK equities portfolios

 

Invesco said on Tuesday it would sell all the unquoted companies currently held in its UK equities portfolios and has marked down their value by 60% as a result of recent coronavirus-fueled market...

Billionaire investor Steve Cohen: 'After an earthquake there are tremors'

 

Billionaire trader Steven A. Cohen is cautioning the staff of his investment firm, Point72 Asset Management, to remain cautious amid markets that have recovered slightly from coronavirus-driven lows.

YOUR MONEY: How to apply past financial lessons to today’s coronavirus crisis

 

When the world feels like it is ending, it can be comforting to look to history and see that such global convulsions have happened before and the earth kept on turning.

LendingClub cuts approval rates for high-risk borrowers as coronavirus spreads

 

LendingClub Corp on Monday cut loan approval rates for some high-risk borrowers and increased income and employment verification requirements, in a sign that alternative lenders could pull back from...

Prophet Capital to dissolve hedge fund amid 'extreme volatility'

 

Prophet Capital Asset Management LP, an investor in loans and structured credit securities hit by recent market turmoil, plans to temporarily block withdrawals from one of its hedge funds and...

U.S. markets watchdog Clayton says SEC should not ban short-selling of shares

 

The head of the U.S. Securities and Exchange Commission said on Monday that it should not ban short-selling of shares, amid speculation on further measures the agency might take to arrest a market...

Colombia's ELN guerrillas declare unilateral cease-fire amid coronavirus

 

The National Liberation Army (ELN), the largest active guerrilla group in Colombia, will observe a unilateral cease-fire for one month from April 1 in an effort to help stem the spread of...

Hedge fund Fir Tree puts $410 million dislocation fund to work

 

After years of waiting and watching from afar, hedge fund Fir Tree Partners is spending $410 million from its dislocation funds on stocks, pockets of the credit market and other securities, sure the...

Your Money: The one document Americans need now - Power of attorney

 

If you live in the United States and really want to be prepared for coronavirus, experts say you need a fully executed power of attorney, which designates a trusted person to take over your finances...

Need to Know: Bear-market survival tips from an analyst who spent years warning of a bubble

 

Our call of the day comes from Jesse Colombo, an independent economic analyst who predicted the 2008 crash, and has been warning of an “everything bubble” for years, because underlying issues from that crisis were never resolved.

Commodities Corner: Why a Saudi Arabia-Russia deal to cut oil output would mean nothing without U.S. cooperation

 

Oil prices posted their largest weekly gain on record Friday, buoyed by expectations that Saudi Arabia and Russia will work together to cut global crude production, but analysts say any agreement to stave off a market surplus would need help from the United States, the world’s largest oil producer.

Need to Know: This recession will finally end the private-sector ‘debt supercycle,’ says firm that invented the term

 

“The shock of the recession and destruction of wealth will leave a legacy of increased financial caution with households wanting to build precautionary savings and companies striving to repair damaged balance sheets,” says Martin Barnes, chief economist at BCA.

Lost your job-based health insurance during the coronavirus pandemic? Here’s how to get coverage before time runs out

 

‘People shouldn’t wait — they should start investigating,’ one economist said.

The Moneyist: ‘Your boss is playing God’: My grocery store banned face masks for staff. I don’t want to contract coronavirus. How can I stay safe?

 

‘Wearing the mask makes me feel safer and helps to guard me against coronavirus. It does not interfere with my ability to do my job.’

Dispatches from a Pandemic: A New Yorker’s survival guide to grocery shopping during the coronavirus pandemic — without losing your mind

 

As the CDC does a U-turn on face masks, a reflection on how to stay safe while buying food in a Manhattan supermarket.

The Moneyist: I’m a cashier at a truck stop. I have COPD, asthma and hypertension. I’m scared of coronavirus. Should I stop working?

 

‘Even small mistakes that I might make could be huge for me.’

The Moneyist: ‘Coronavirus has ruined everything.’ My husband refuses to work. Is it too much to ask him to find a job when millions of people are now out of work?

 

‘I see him every day relaxing and taking it easy while I’m working. I’ve suggested jobs with car services and food-delivery services, but to no avail.’

Airline Stocks: Airlines are canceling flights, burning through cash as passengers stay home to shelter from coronavirus

 

Major U.S. airlines on Friday painted a bleak picture of air travel across the country as the coronavirus pandemic forced passengers to stay home.

Personal Finance Daily: The CDC now says all Americans should wear masks — here’s a simple DIY approach and meet the hospital cleaner on the frontlines of the coronavirus pandemic

 

Thursday’s top personal finance stories

 

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