Lizzy Burden, Tom Mackenzie and Paul Dobson break down today's key themes for analysts and investors on "Bloomberg: The Opening Trade." (Source: Bloomberg)
Lizzy Burden, Tom Mackenzie and Paul Dobson break down today's key themes for analysts and investors on "Bloomberg: The Opening Trade." (Source: Bloomberg)
primeimages/E+ via Getty Images Commentary as of 12/31/25 The fund posted a return of 3.43% (Class I shares) for the fourth quarter of 2025, while its reference benchmark 4 returned 2.72%. The fund had an overweight position in equities (5%) and an underweight exposure to fixed income (-14%), with the rest held in commodity-related securities (4%) and cash equivalents (5%). In equities, it had ove...
primeimages/E+ via Getty Images Commentary as of 12/31/25 The fund posted a return of 3.43% (Class I shares) for the fourth quarter of 2025, while its reference benchmark 4 returned 2.72%. The fund had an overweight position in equities (5%) and an underweight exposure to fixed income (-14%), with the rest held in commodity-related securities (4%) and cash equivalents (5%). In equities, it had overweight holdings in the communication services, information technology (IT), consumer discretionary, and financials sectors, and underweight exposures to the materials and real estate sectors. The fund had an overweight position in the United States, and underweight holdings in Japan, Canada, Australia, and Europe. In fixed income, it had an underweight allocation to developed market government bonds and overweight holdings in corporate credit, securitized debt, and bank loans. Total portfolio duration (interest rate sensitivity) was in line with the benchmark at 2.2 years (total portfolio duration assumes equity duration of 0). The fund had an overweight exposure to the Japanese yen and underweight holdings in the Chinese yuan and euro. Contributors Detractors In equities, security selection in IT boosted returns, though this was partially offset by an overweight exposure to the sector. Security selection and an underweight position in the financials sector were additive. Positioning in index-related futures, which were used to tactically manage regional exposure, contributed, as did the allocation to commodities, notably gold-related securities. In equities, security selection in communication services hampered performance, though this was partially offset by an overweight allocation to the sector. Security selection and an overweight position in the consumer discretionary sector detracted. In fixed income, positioning in rate derivatives, notably along the U.S. yield curve, was a hindrance. Click to enlarge Further insight Global stocks advanced during the quarter, led b...
His remarks come as foreign secretary Yvette Cooper meets her counterparts at a G7 meeting in France The second day of the G7 meeting near Paris is under way. We heard from Yvette Cooper earlier this morning before the summit began, saying she and other foreign ministers will discuss the conflict in the Middle East “where we want to see a swift resolution that reaches regional stability and securi...
His remarks come as foreign secretary Yvette Cooper meets her counterparts at a G7 meeting in France The second day of the G7 meeting near Paris is under way. We heard from Yvette Cooper earlier this morning before the summit began, saying she and other foreign ministers will discuss the conflict in the Middle East “where we want to see a swift resolution that reaches regional stability and security and opens the strait of Hormuz”. The narrow waterway, one of the world’s busiest oil shipping channels, has been effectively closed since the US-Israeli war on Iran began in late February, with Tehran threatening to attack vessels in retaliation. The closure has sent oil and gas prices soaring around the world, particularly in Asia, where the crisis is impacting daily life. Starmer is visiting a school in London this morning, as new government guidance advices parents to limit screen time for children under the age of five to one hour a day, while under-twos should not be watching screens alone. Peter Mandelson will reportedly be asked to hand over messages from his personal phone as part of the government’s disclosure of documents related to his appointment as UK ambassador to the US. The government has so far only had access to his work phone. Starmer told Sky News that he “beats himself up” over Mandelson’s appointment, saying it was a mistake he would never repeat. Continue reading...
There’s a clean path for U.S. stocks next month to advance after massive institutional deleveraging, according to a report from Goldman Sachs trading desk team.
There’s a clean path for U.S. stocks next month to advance after massive institutional deleveraging, according to a report from Goldman Sachs trading desk team.
LayerZero has become the first interoperability protocol live on the Canton Crypto Network, the institutional blockchain backed by Goldman Sachs, Microsoft, and DTCC, enabling regulated financial institutions to route tokenized assets across more than 165 public blockchains while preserving compliance standards.This is kind of Wall Street’s tokenization infrastructure opening a ...
LayerZero has become the first interoperability protocol live on the Canton Crypto Network, the institutional blockchain backed by Goldman Sachs, Microsoft, and DTCC, enabling regulated financial institutions to route tokenized assets across more than 165 public blockchains while preserving compliance standards.This is kind of Wall Street’s tokenization infrastructure opening a ...