Elon Musk promised his bankers they would not lose money on the $13bn they lent to finance his Twitter takeover in 2022. The world’s richest man has now largely made good on his vow after Donald Trump’s re-election helped rescue the debt deal.   www.ft.com/content/51c5...

Best ever yield from a request for comment www.ft.com/content/cc55...

Banks are close to selling $3bn worth of loans backing Elon Musk’s takeover of Twitter, offloading another huge portion of the risk they’re holding. Demand has been so strong, they’ve eliminated a discount they had initially offered, expecting to price the loans at par www.ft.com/content/653b...

Great read from @scaggs.bsky.social - Fed research found 22 banks that suffered a run during the 2023 ructions, significantly more than the two that failed www.ft.com/content/a92f...

“You are giving zero weight to the treating doctor’s opinion on the necessity of the treatment regimen?” a lawyer asked [an internal UnitedHealthcare doctors reviewing a patient's appeal for coverage] in his deposition. He responded, “Yeah.” www.propublica.org/article/unit...

Jane Street and Millennium settle legal dispute over trading strategy https://www.ft.com/content/da6eef56-09fb-4f9d-b8ed-79605ebacf73

OK OK, arguing that inflation can have positive side-effects is a lot harder today than, say, exactly a month ago. But it has led to one of the biggest declines in global indebtedness in history — possibly the biggest? www.ft.com/content/2988...

BlackRock confirmed our scoop on HPS this morning. The deal accelerates its expansion into alternatives, moving it further beyond publicly traded equities and bonds that have powered its growth since its founding in 1988. It also sets up an interesting fight for retail www.ft.com/content/70a0...

A scoop before Thanksgiving: BlackRock has a handshake deal to buy HPS Investment Partners, as it looks to bolster its alternative investment business with the addition of one of the biggest private credit groups @arashmassoudi.bsky.social @brookeamasters.bsky.social www.ft.com/content/971b...

The EU has joined Bluesky

Warren Buffett picks 3 potential new trustees to execute his will (in the event his children die before he does) www.ft.com/content/435e...

Tonight’s front. #tomorrowspaperstoday

It’s a new day on Wall Street. Buyout shops that struggled with financing deals in 2022 as markets seized up are taking advantage of the recent rally to pay themselves dividends and cut borrowing costs. The list includes Blackstone, Elliott and Vista just in the past week www.ft.com/content/631f...

Private credit has been one of the hottest asset classes over the past decade. Possibly the hottest. But how is it weathering the first proper interest rate hiking cycle in its life as a “proper” trillion-dollar-plus asset class? FTAV thought we'd take a look. www.ft.com/content/91f8...

Bank of America is drawing up plans to structure risk transfer deals (SRTs) for smaller lenders, a move that could turbocharge the nascent market at a time of heightened scrutiny. @ortenca.bsky.social Steve and I have the scoop: on.ft.com/3ANWAvR

@sindap.bsky.social www.ft.com/content/4887...

From the NYT on the slow choice for the treasury pick www.nytimes.com/2024/11/17/u...

It’s always difficult when a group of new friends meet together for the first time to get acquainted. So I'm perfectly prepared to start the ball rolling. I mean, I have absolutely no idea what we're doing here. Or what I'm doing here, or what this place is about, but I am determined to enjoy myself