Media – Blog
August 8, 2023
Commentary The venture debt markets got off to a historically tepid start in 2023 and continued to slow its pace through Q2. According to Pitchbook, total funding was down another 15% from the prior quarter and dropped more than 67% from the same period in 2022. As we review debt
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August 2, 2023
The Fed is 'Data Dependent', as Always As was widely expected, the Fed increased their policy rate last week by 25 basis points to a new range of 5.25%-5.50%. This level is a 22-year high and it marks the 11th time since March of 2022 that the Fed has raised their
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July 26, 2023
What is Commercial Paper? Commercial paper (CP) is a type of short-term, unsecured debt instrument with a maturity of no more than 365 days. CP serves as an alternative to a business loan and is typically used by large corporations to finance their short-term operating needs such as accounts payable,
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July 20, 2023
Cash investors looking to incorporate ESG face an interesting dilemma: Can you invest in oil majors while claiming to be an ESG investor? The answer may surprise you. Part 1: A Recent History of Energy The prominence of ESG investing has increased significantly in recent years, and nowhere has its
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July 18, 2023
Soft Labor Market & Inflation Releases June’s Employment Report was released on July 7th, showing an increase in non-farm payrolls of 209,000 vs. expectations for 230,000, marking the first time that payrolls have come in below market projections in the past 15 months. Additionally, payrolls were revised downward by a
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July 6, 2023
Yields Rise Welcome to the third quarter and the second half of 2023! Treasury yields rose across the curve during the second quarter, led by the 2-year note which rose 87 basis points to 4.90%. The rise in yields was a result of solid economic data, elevated inflation, and a
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June 29, 2023
Commentary The venture debt markets got off to a historically tepid start in 2023. According to Pitchbook, total funding was down more than 60% from the prior quarter and dropped more than 40% from the same period in 2022. As we review debt as a percentage of the venture
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June 27, 2023
Macroeconomic Conditions The post-pandemic economy has had to contend with a rarely seen number of short-term disruptions and fundamental shifts to which it has mostly taken in stride. So far, we have avoided a widely broadcast recession, helped initially by huge amounts of pandemic related financial aid, and followed by
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June 22, 2023
Federal Reserve - A Hawkish Pause As expected, the FOMC held the Federal Funds rate at the 5.00%-5.25% range at their June FOMC meeting, marking the first pause after 10 consecutive increases. The Fed has raised rates by a cumulative 5 percentage points since March of 2022, the most since
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June 15, 2023
Executive Summary Effective liquidity management, especially for large cash portfolios with a range of investments, can quickly turn into a larger and more complex task than initially expected. Some financial executives may not have a firm grasp of what liquidity means in a portfolio of individual cash assets. But adhering
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