Lets get straight into the burning issues. With me is kelsey butler, adam tim gunn, and chenal bass lake. A number of big Asset Managers have been getting into an expanding in private markets. What is it doing . Kelsey the firm is definitely growing its footprint into private credit. For one, they have appointed their cfo, Meg Mcclellan into a newly formed role of how to private bets. They are also doing hiring and potentially more acquisitions o grow their assets. Lisa what is the goal here . Why is this happening now . Kelsey it is part of a push from investors. Investors want someone who is specialized in these unique asset classes. Especially when you are talking about alternatives and there are some intricacies along the way. Lisa although, how much is this coming from investor demand, how much from the fact that fees are higher in the alternative space . Kelsey that is definitely a driver as well as these have kind of compressed along the board. Banks are making the smart decisio
Despite recent highprofile stumbles. We head to the auction house for the most expensive sweater of all time, the vintage green cardigan of the late musician kurt cobain. Lets get into some of these burning issues. With me are jason kelly, annie massa, and our other guest. Black rock increasingly catering to this shift toward private markets. How is blackrock positioning itself . Even the black rock is an indexing giant, they have moved toward investment. One cornerstone of that has been their attempt to raise this longterm private capital fund which they are targeting 12 billion in fundraising for. Lisa how successful have they been . As of april, only 2. 75 billion committed. They have a long way to go before they reach that goal, but they announce their First Investment over the fall. Lisa Erik Schatzker recently sat down with the black rock head of equities. Take a listen. I think we may see Companies Stay private for longer as a result of the availability of that capital, as a res
We are not a leading not letting people vote or coming it was strange governments. We just want people to vote. Nejra tense weekend of protest. Hong kong takes another violent time. We are live from the city police headquarters. And saudi aramco releases earnings for the first time. We will hear from the cfo later this morning, dont miss it. Matt good morning from the german capital, lets take a look first at a couple of the market prices, you will see the influence trade. You might wonder why asian markets are gaining right now. Thanuan fixing was weaker some may have expected and it does look like the chinese are indeed holding the yuan steady around seven. Right now we see the offshore trade at about 7. 1 you want to the dollar. Thats why youre seeing futures up in europe and the u. S. Taking a look at your stocks futures. Is . 93 and change. Taking out the highs we saw in 2016, and the next move up would be the highs we saw in the financial crisis. Europound at a strong level. Nejr
Shrugging off the risk. European and u. S. Futures gain despite president Donald Trumps assertion that trade talks with china in september could be called off. The beach. Yields fall in italy following affirmations of the country triple b rating by fitch. The deputy rating man tells that leaving the eu is not part of the plan is he begins campaigning officially. I dont think anyone is scared of democracy. We ask for elections. One should be scared. I dont want elections. We are coming up with strange governments. We just want the people to vote. Net profit aramcos falls by more than 12 in its first ever halfyear report. We will hear from the groups cfo later this morning in an interview you do not want to miss. Look quickly, less than half hour away from the start of cash trading across the continent and in the u. K. It appears to show it is still a risk off trade. Investors are reaching for the safe haven of the japanese currency, now falling down to what all five. 105. You can buy fe
The cover is an expression of that this week. Jay powell, fed chair, probably the most important person in the world of finance. He heads the Financial Institution that is probably the most important anywhere in the world and for a year now, hes been the target of trumps friend are ire, because trump wants lower rates, lower rates, and jay powell has basically been a stoic figure through all of that. Carol we believe this is an independent organization and for the first time, we are wondering is it going to remain independent . And can they continue to fend off the executive branchs desire for lower rates . We will see what happens this next week with rate cuts. The market basically thinks there will be a rate cut. The bigger story is one we wanted to ask to dig into, which is for a year now, weve lived through the tension between trump and powell, more from trump than from powell. It is onesided, for sure. What effect has not had on the fed . What chris got to was, not much of an effe