What we’re reading (10/30)
“Why Nuveen Is Cautiously Optimistic About Markets” (Institutional Investor). “Nuveen’s private credit teams are cautiously optimistic about where the markets are heading next. Rising interest rates, inflation, and geopolitical pressures have not undermined the private credit markets. Executives at Churchill Asset Management and Arcmont Asset Management, Nuveen’s private credit shops, say they’re raising plenty of money from investors.”
“Treasury To Borrow $776 Billion In The Final Three Months Of The Year” (CNBC). “The U.S. government’s borrowing needs will decline slightly in the final three months of 2023 from the prior quarter, a potentially important development during a turbulent time for the global bond market. In a closely watched announcement Monday afternoon, the U.S. Department of the Treasury said it will be looking to borrow $776 billion, which is below the $1.01 trillion in privately held marketable debt the department borrowed in the July-through-September period, the highest ever for that particular quarter.”
“The National Debt Is Finally A Real-World Problem” (Yahoo! Finance). “We’re now beginning to see the real-life effects of an unsustainable federal debt load. To finance trillions of dollars in spending beyond what incoming revenue can support, the US Treasury is now issuing more debt in the form of Treasury securities than global financial markets can readily absorb. That forces the borrower—the US government—to pay higher interest rates, which in turn pushes up borrowing costs for consumers and businesses in much of the Western world.”
“Fliers Can’t Get Enough Of The ‘Upper-Middle Class’ Section Of The Plane” (Wall Street Journal). “Not quite business class and definitely not coach, premium-economy cabins are hooking travelers willing to treat themselves to extra comfort for about double the price of a coach seat on some flights.”
“NYT Tech Workers To Walk Out In Protest Of Return-To-Office Policies” (Axios). “The guild has argued that new remote-work policies violate the terms and conditions set when their union was ratified in 2022.”
