Lisa Lee

At Bloomberg covering credit markets, former Breakingviews and Dow Jones columnist, reformed banker and Washington DC wonk. Opinions my own

[Wall Street Rollup @WallStRollup]

Blackstone leaders are buying the dip.

More than 25 senior leaders at Blackstone pitched in $150mm to the Blackstone Private Credit Fund.

This helped cover $3.8B, or 7.9% of the fund's net assets after record redemptions.

[junkbondinvestor @junkbondinvest]

CLO equity retail funds cutting dividends by more than half. Share prices hitting all-time lows.

These are the funds that buy the riskiest tranche of CLOs, which buy leveraged loans, which finance PE-backed companies.

Meanwhile, retail investors at the bottom of a leverage stack they probably can't diagram.

[Colby Smith @colbyLsmith]

"I don’t know anything about it," Trump tells @NBCNews about the Justice Department's investigation into Fed chair Powell.

He said it had nothing to do with interest rates:

"I wouldn’t even think of doing it that way. What should pressure him is the fact that rates are far too high. That’s the only pressure he’s got," Trump said.

https://t.co/UfowySfScw

[Lisa Lee @LisaLeereporter]

Oh wow

[Federal Reserve @federalreserve]

Video message from Federal Reserve Chair Jerome H. Powell: https://t.co/5dfrkByGyX

[Chad Pergram @ChadPergram]

GOP NC Sen Tillis: If there were any remaining doubt whether advisers within the Trump Administration are actively pushing to end the independence of the Federal Reserve, there should now be none. It is now the independence and credibility of the Department of Justice that are in question. 

I will oppose the confirmation of any nominee for the Fed—including the upcoming Fed Chair vacancy—until this legal matter is fully resolved.

[Stephanie Kelton @StephanieKelton]

Via Apollo's Torsten Slok

[amit @amitisinvesting]

Cathie Wood $ARKK just bought 100K shares of $PYPL PayPal.

[Talking Biz News @talkingbiznews]

.@LisaLeereporter departs @business for @creditflux: https://t.co/nGDJb2ocoZ

[Bain Capital @BainCapital]

In the latest episode of the @business Credit Edge podcast, John Wright joined Bloomberg News’ @LisaLeereporter and @jtcrombie and Bloomberg Intelligence’s @mhollandjr to offer insight on trends across the credit landscape.

Listen here: https://t.co/rCWANAqehz

[Silas Brown @silasfelixbrown]

Dinner with Barack Obama, mansions on both US coasts and dazzling modern art collections — from Frank Stella to Jean-Michel Basquiat...

A profile of HPS Investment Partners with @dscigliuzzo, brilliantly edited by James Boxell

https://t.co/WaWMUoyn4b

[Yale Club of London @YaleClubLondon]

That winning feeling.... in London #ThisIsYale #Team150 #YaleAlumni

[Zoe Schneeweiss @ZSchneeweiss]

London pubs lean on happy hours to lure bankers to the quiet City https://t.co/WMmRu1NRvd via @ncallanan @sabahmeddings @gmorpurgo

[Lisa Lee @LisaLeereporter]

Amazing couple. It was an honor to work for him.
https://t.co/XdSfd2YDt1

[Laura Benitez @lauralevfinance]

NEW: AllianceBernstein has been working with banks to originate private financing, demonstrating a further blurring of lines between the roles of asset managers and lenders.
“We’re not in the back seat – we are riding shotgun with the banks,” https://t.co/ULGlNkzGl2 via @markets

[Bloomberg Economics @economics]

Private credit is now a serious rival to banks in lending to all kinds of businesses. Yet no one knows how it would cope in a prolonged recession https://t.co/BH9kc73xHU

[Paula Seligson @PSeligson]

Citadel Securities’ first-half net trading revenue slid 35% from last year’s volatility-fueled surge as the trading firm founded by Ken Griffin seeks to compete with the big banks. By me & @KatLeighDoherty https://t.co/qA2YBModE0 #citadel #citadelsecurities #kengriffin

[Joe Weisenthal @TheStalwart]

PICKLEBALL INJURIES MAY COST AMERICANS UP TO $400 MILLION THIS YEAR

New report from UBS says that in addition to competing with kids and tennis players for valuable public park players, 'picklers' are contributing to higher healthcare utilization rates https://t.co/AAMNteB9ub