Jenny Surane

Another great conversation at Greenwich Economic Forum. We spoke with Gabriel Stengel , CEO of Rogo, about how AI can transform finance, public and private markets.

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NEW: With Bloomberg News regional banking reporter Yizhu Wang, I looked at the ripple effects of last week's freeze on federal grants and discretionary funds. Yizhu and I found that for-profit banks are more closely tied into the ecosystem of organizations that receive federal funding than it might first appear. For instance: When the freeze hit, some larger nonprofits started to draw down on revolving lines of credit their banks had provided them. But from the bankers' perspectives, it suddenly seemed like those nonprofits might not be able to repay. Real estate loans, community partnerships and even depositor relationships could be affected if the freeze comes back. Here's our story: https://lnkd.in/ezYsndjy

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It was great checking in with Citi Wealth CIO Kate Moore about her thoughts on what's ahead for markets. She sees risks compounding from tariff uncertainty, narrowing stock participation, and misguided enthusiasm around interest rate cuts. “There are a number of warning flags that are not yet affecting investor sentiment and that I don’t understand why frankly are not on people’s near-term radars," she tells me. https://lnkd.in/empDePYS

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U.S. banks Citigroup and Bank of America said on Tuesday they are exiting the Net-Zero Banking Alliance, a group of global banks that have pledged to curb greenhouse gas emissions - https://lnkd.in/gR3aUiVN

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I used to hear about structured products mostly just in relation to Europe and Asia -- and the low-rate era. Then increasingly, especially when I wrote about the dispersion trade or low VIX, I was hearing about these products in the US context. So Yiqin Shen, Lu Wang and I delved deep into this new boom, which has seen issuance reach a record $200 billion last year. It's today's Bloomberg Big Take. Link below 👇

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The top-down story for Chinese equities has turned decidedly more positive this year following a series of tech breakthrough at tech companies, more accommodative policies aimed at boosting consumption, and more recently, an agreement with the US to de-escalate on trade tensions. But things aren't that clear-cut from a bottom-up perspective. Investors are turning more positive, but they just "don't know what to buy," according to Bank of America strategist Winnie Wu. Reports from the biggest consumer internet companies so far are showing mixed signals, with gaming firms showing stronger tractions but competition flaring up in e-commerce/food delivery. Home appliance makers are benefiting from trade-in subsidies, but the program is approaching one-year mark and investors wonder whether the benefit will start to fade. Chasing rallies in the so-called "new consumption" plays like Labubu maker Pop Mart and bubble tea shops appears risky as positions get crowded. The backdrop for traditional industries like utilities and materials is perhaps the toughest given deflationary pressures. One sound strategy, according to BofA, is a barbell approach to balance high-yield value plays with riskier and smaller tech firms. What do you think? What are the Chinese industries you are keeping a close eye on? #china #emergingmarkets #stocks #markets #investing

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Anytime the vast majority of a company’s assets and liabilities abruptly disappear, there’s bound to be a fascinating story about why. Today’s Heard on the Street column is about Coinbase, which just shrunk its balance sheet dramatically as a result of the SEC’s decision last month to rescind its staff accounting bulletin on crypto assets. The balance-sheet move highlights a lingering issue: Who really owns the customers’ crypto? As the company’s risk-factor disclosures show, this question still isn’t clearly resolved. #coinbase #accounting #crypto #bitcoin https://lnkd.in/gzArqWRu

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Everything has a cause and effect, and the #muni market is no different. Municipals experienced further losses Tuesday, as muni #yields were cut up to 11 basis points, depending on the scale. So why do yields keep rising? Although we're not yet past the #tariff-induced market volatility, the market has appeared to manage any aftershocks better, as demonstrated by its strength last week. But this week has seen two days of yields moving higher. So what gives? One reason is #supply. The new-issue calendar is around $14 billion this week. There's also $5.8 billion of supply that was moved to the day-to-day calendar or postponed two weeks ago that's waiting to come to market. The Bond Buyer 30-day visible supply sits at $23.6 billion. That's a lot of issuance waiting in the wings, and with several more sizeable deals shaping up for next week (including nearly $1 billion from the Los Angeles Department of Water and Power), supply will remain the topic du jour. So get ready to keep adding issuers to your dance card because volume is showing no signs of slowing. Cooper Howard, CFA Matt Fabian #muniland #bonds https://lnkd.in/gVZzS3DE

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A new stock exchange dedicated to sustainable investing moved a step closer to opening after receiving backing from the US Securities and Exchange Commission. The Green Impact Exchange (GIX) said in a statement on Monday that the SEC approved an amended application to register as a national securities exchange. An SEC spokesperson confirmed the the application approval. The exchange expects to begin trading early next year. GIX is taking steps to open during what’s a challenging period for sustainable investing. About $9 billion was withdrawn from sustainable equity funds last month with the selling “intensifying” since February, analysts at Barclays Plc reported. Read More Here: https://lnkd.in/edv5CgJn

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