Diversified Financials Capital Markets

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  • *Yunhee Yoo to launch Cascade Ridge Capital in early 2017. LONDON, April 19- Former Canyon Capital analyst Yunhee Yoo is starting her own credit hedge fund, Cascade Ridge Capital, three sources familiar with the matter told Reuters, and aims to launch in early 2017 with $150 million in assets. She is joined by Mitchell McCullough, former president at...

  • LONDON, April 19- Brent futures prices are signaling the market expects a rapid tightening of the supply-demand balance in the second half of 2016.. The spread between futures prices for oil delivered in June and July has moved into a backwardation of 17 cents per barrel from a contango of almost 50 cents at the end of last month. The spread between July and August...

  • There was also a slew of supportive economic signals from China, the world's top metals consumer. "The most recent PMI data from China has reversed the negative trend. The possibility that China is stabilising is reassuring markets after a torrid first couple of months at the beginning of the year, " Lorne Baring, managing director at B Capital Wealth Management in...

  • WASHINGTON/ BOSTON, April 18- The heads of the major U.S. financial regulatory agencies on Monday raised concerns about a concentration of leverage in large hedge funds and called for a working group to collect and analyze data on the privately held firms in a report on asset management. But the Financial Stability Oversight Council, tasked with finding and...

  • SACRAMENTO, Calif., April 18- The California Public Employees' Retirement System decided on Monday to review the potential impact of reinvesting in tobacco, 16 years after the pension fund dropped the controversial asset from its portfolio. Tobacco is the leading preventable cause of death in the United States, according to the U.S. Department of Health and...

  • WASHINGTON/ BOSTON, April 18- The heads of the major U.S. financial regulatory agencies on Monday raised concerns about a concentration of leverage in large hedge funds and called for a working group to collect and analyze data on the privately held firms in a report on asset management. In a rare public meeting late on Monday, the regulatory group, including the...

  • NEW YORK, April 18- Volatile financial markets took a bite out of earnings at big U.S. banks during the first quarter- not just in trading but wealth management, too. But falling commodity prices, concerns about China's economy and uncertainty about the direction of interest rates created shaky markets last quarter, and led many wealth clients to stay on the...

  • NEW YORK, April 18- BlackRock Inc, the world's largest asset manager, on Monday cut its expectations on the five-year returns on U.S. investments, in particular bonds, which would lose money. In a traditional U.S. model portfolio with 60 percent of money in stocks and 40 percent in bonds, investors would see an annual return of less than 3 percent over the next five...

  • *Q1 EPS 55 cents vs. est. *Rev $7.79 bln vs. est. April 18- Morgan Stanley's quarterly profit fell by more than half as the Wall Street bank's fixed-income trading and investment banking businesses took a hit from market volatility early in the year.

  • NEW YORK, April 18- After several false starts over the last two years, U.S. fund managers are betting that energy stocks have finally hit bottom. The price of oil fell from $115 a barrel to $27.88 between June 2014 and January of this year, yet is up more than 50 percent since hitting its low. "The E&P companies have taken the brunt of the pain that I think they will see in...

  • April 18- Morgan Stanley's quarterly profit more than halved as the Wall Street bank's trading and investment banking businesses took a hit from market volatility early in the year. Earnings applicable Morgan Stanley's common shareholders fell 54.4 percent to $1.06 billion, or 55 cents per share, in the quarter ended March 31, from $2.31 billion, or $1.18 per...

  • SHANGHAI, April 16- China's hedge fund operators can expect more stringent regulation from their self-regulatory industry body in an intensifying crackdown on "Wild East" fraud and illegal money raising, the Asset Management Association of China said. Hedge funds have attracted increased scrutiny in China amid fears the relaxed registration-based...

  • TEMER ALSO CONSIDERING FORMER ASSET MANAGER LUIZ FERNANDO FIGUEIREDO FOR KEY CABINET POST- SOURCES.

  • LONDON, April 15- British shares retreated on Friday as stagnation at the top end of the housing market allied to persistent concerns about a possible British exit from the European Union put pressure on housebuilders. The Thomson Reuters UK Homebuilding index dropped 2.8 percent, hitting an 11- month low. Investors cited concerns over a June referendum in...

  • The profit decline is the biggest among big U.S. banks that have reported first-quarter results so far, but lower operating expenses helped Citigroup beat Wall Street's low expectations. Banks globally have had a tough start to the year amid near-zero interest rates and a slowdown in China. Revenue from fixed income markets fell 11.5 percent to $3.09 billion...

  • MILAN, April 15- Italy has dubbed its new bank bailout fund Atlas, after the mythical Greek titan, because it is meant to hold up the sky above the nation's lenders. The 5- 6 billion euro fund was hailed by the government as an industry-led response to concerns in Rome and other European capitals about the euro zone's fourth-biggest banking system.

  • *GLG hardest hit, strong AHL sales please analysts. Man said in a statement assets under management at the end of March were $78.6 billion, from $78.7 billion at the end of December, as a strong performance at its systematic trading arm AHL helped offset a weaker quarter for GLG, its actively traded equities business. AHL offers a range of computerized hedge fund...

  • *GLG hardest hit, strong AHL sales please analysts. Net inflows into its AHL funds over the period were $1.3 billion, Man said in a statement. Analysts were broadly positive about the figures, with Goldman Sachs flagging strong sales of AHL products, particularly into the United States, as "far in excess" of its estimates.

  • Valeant has turned to investment banks that include Goldman Sachs Group Inc and Centerview Partners Holdings LLC as it reviews strategic options and seeks advice on dealing with its creditors, the people added. Both Valeant Chief Executive Officer Michael Pearson and board member William Ackman, who is also the CEO of activist hedge fund Pershing Square,...

  • NEW YORK, April 14- A businessman at the center of a federal corruption probe involving New York police officers and Mayor Bill de Blasio's fundraising helped arrange an investment by the correction officers' union in a hedge fund, a person familiar with the matter said on Thursday. Jona Rechnitz, who heads a New York real estate firm, referred the president of the...