Bridgewater’s Ray Dalio Warns Of Stagflation, Calls Fed ‘Naïve And Inconsistent’ For Raising Interest Rates (Benzinga)
Billionaire hedge fund manager and Bridgewater Associates founder Ray Dalio on Tuesday offered his take on whether raising interest rates could help improve the economy. Higher Interest Rates Are Not A Solution: It’s “naïve and inconsistent” to think that the Federal Reserve needs to raise interest rates to control inflation, Dalio said in a LinkedIn post. Dalio noted that prices rise when “the amount of spending increases by more than the quantities of goods and services sold increase.”
Crypto broker Voyager Likely to Issue Default Notice to Three Arrows (Reuters)
June 22 (Reuters) – Crypto broker Voyager Digital Ltd said on Wednesday its subsidiary may issue a default notice to Three Arrows Capital Ltd if the cryptocurrency hedge fund fails to repay its loan. Voyager’s total exposure to Three Arrows Capital consists of 15,250 bitcoin (nearly $310 million) and $350 million USD Coin (USDC), it said.
GIC, B Capital Lead $150M Funding for Crypto Platform FalconX (Investing.com)
Investing.com — The crypto winter hasn’t – yet – stopped the flow of institutional money into the digital currency space. Crypto platform FalconX, which specializes in offering digital asset-themed services to institutional investors, said on Wednesday it had attracted $150 million in fresh capital, through a Series D fundraising led by Singapore’s sovereign wealth fund GIC and B Capital at a valuation of $8 billion.
Top ESG Fund Manager Trounces Peers by Hoarding ‘Unloved’ Assets (Bloomberg)
One of this year’s top-performing managers of so-called sustainable funds has relied on assets that aren’t normally associated with environmental, social and governance investing, in a strategy that’s ended up trouncing his peers. The Eurizon Azioni Energie E Materie Prime (ticker CARENMP@IM) booked a return of 15.7% this year as of Friday, according to data compiled by Bloomberg. Its main holding is ConocoPhillips, followed by Valero Energy Corp. and Exxon Mobil Corp.
Hedge Funds Performance Monitor: May 2022 (Preqin)
The current economic climate is impacting not just traditional asset classes but also alternatives. All fund structures tracked by Preqin were in negative territory during May. Notably, CTAs’ streak of consistently outperforming all other structures was broken by the first negative month (-0.19%) of 2022. The Preqin All-Strategies Hedge Fund Benchmark continued to decline, falling by -1.41% in May, which pushed the year-to-date return to -5.72%.
Bitcoin Billionaire Sam Bankman-Fried Bails Out Embattled Crypto Firms BlockFi and Voyager (CNBC)
FTX, Bankman-Fried’s crypto exchange, agreed to provide crypto lender BlockFi with a $250 million revolving credit facility. Alameda, Bankman-Fried’s quantitative trading firm, committed $500 million in financing to Voyager Digital, a crypto brokerage. Bankman-Fried has emerged as something of a savior for the $900 billion crypto market as it faces a deepening liquidity crunch.