Media – Blog
April 29, 2024
On Friday afternoon, the FDIC took the failed Republic First Bank into receivership and the majority of the bank’s assets and liabilities were sold to Fulton Bank on the same day. We do not expect this bank failure to create systemwide turmoil similar to what we experienced in March of
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April 25, 2024
Introduction The Bank of Japan’s (BOJ) meeting last month was perhaps the most consequential central bank meeting of the entire year. The BOJ raised interest rates by 10 bps to 0-0.10%, all-in-all a small amount in magnitude. However, this marked the first interest rate increase by the central bank in
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March 27, 2024
During the weekend following Silicon Valley Bank’s collapse, it became apparent that the bank run which drove SVB to insolvency was spreading, placing extreme liquidity pressures on a few regional lenders. Bank balance sheets remained fundamentally stable, although, the volume and speed of deposit outflows at some banks was overwhelming
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February 29, 2024
Introduction Following pandemic-era supply chain disruptions, bottlenecks have become a top-of-mind subject for investors. At the center of the Fed’s tightening cycle was the soft landing—the idea that tighter financial conditions would help bring supply-and-demand into better balance, ease bottlenecks, and bring inflation toward 2% without significantly impacting growth. When
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February 14, 2024
Commentary - Full Year 2023 The venture debt markets got off to a historically tepid start in 2023 and continued its slow pace through Q2. According to Pitchbook, despite this slow start, the market rebounded significantly in the second half of 2023. Ultimately, total funding ended up at a four-year
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December 18, 2023
Introduction Earlier this year, European oil majors BP and Shell announced that they would roll back their energy transition plans and keep oil and gas as relatively large parts of their portfolio. In October 2023, their American counterparts Exxon Mobil and Chevron doubled down on a collective $115 billion bet
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November 9, 2023
When will "revenge spending" exhaust consumers' pandemic-era savings? What does this mean for consumption and growth? Introduction Excess savings have become a marque piece of economic outlooks, attempting to estimate when consumers’ “revenge spending” will exhaust bank accounts leading to a drop in consumption. However, Q3 2023’s 4.9% annualized GDP
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October 30, 2023
What effects have the labor strikes had on credit markets and how may the Fed’s tightening cycles create further impact? Introduction The U.S. lost 4.1 million days of work to strikes in August, the most in 23 years. The end to the Writers’ strikes brought this figure down to 3.6
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October 3, 2023
Could potential changes in the economy from the end of the Fed’s tightening cycle lead to a higher neutral rate? Introduction With the Federal Reserve System (the “Fed”) nearing the end of its tightening cycle, the question for investors has shifted to whether rates can truly remain “higher for longer”,
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August 15, 2023
What is an Investment Policy Statement (IPS)? Investment Policy Statements (IPS) are written directives provided by investors to their investment managers that defines the objectives, policies, and guidelines governing the management and oversight of their portfolio. An IPS serves as an essential tool in dictating how an investor’s portfolio should
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