AI developers are attracting users and generating revenue, but it remains unclear whether they can produce the profits embedded in US technology valuations. AI does not have to fail for investors to lose money on it. The technology could spread throughout …

Money market funds have become institutional finance's first serious test of blockchain. Blackrock, State Street and other major firms are putting regulated fund shares on distributed ledgers, making them easier to transfer and, potentially, to pledge as …

Sabine Kempchen has joined Feri Luxembourg as head of fund services for alternative assets, she announced on Linkedin. Kempchen joins from KKR Portfolio Services, where she spent more than 6 years, most recently as team leader for private equity …

Developed-market bond markets are undergoing a long-end repricing as investors demand more compensation for financing governments. France has emerged as Europe’s pressure point, with its 10-year borrowing cost now above Italy’s. French 10-year yields …

Mounting business costs are expected to fuel further consolidation in European private banking as firms face growing pressure to achieve the scale needed to operate efficiently and remain profitable. “Rising compliance costs, stricter regulatory …

Major international asset managers want a closer relationship with retail investors, giving them greater control over distribution and customer data. The model works in the United States. In Europe, fragmented markets make the economics much harder. US …

Since 1982, central bankers and economists have gathered in Jackson Hole, Wyoming. The Jackson Lake Lodge was chosen partly because of the area’s trout streams and partly because Paul Volcker, who died in 2019, was an avid fly fisherman. The three-day …

Wall Street guru Ray Dalio made “radical transparency” famous at Bridgewater Associates, where meetings were recorded and stored in the firm’s ‘Transparency Library’ so employees could revisit who said what at any time. AI note-takers are now carrying a …

The Palais Brongniart, now an event venue in the heart of Paris, was for many years the symbol of the French stock exchange. Eric Bleines, deputy CEO of Swiss Life Private Wealth Management, looks back on his early years as a floor trader in this iconic …

European auto bonds have sold off amid weak demand, Chinese competition and rising costs, but corporate bond managers are responding differently. Morningstar this week compares Bluebay Investment Grade Bond and Evli Corporate Bond, two strategies with …

Markets shrug at warnings of ‘painful’ correction in US AI-stocks

Money market funds emerge as tokenization proving ground

Transfers: Feri, Baumann, Gesda, Astorg, Clifton, Citi

Long end forces bond market reset

Private banks need at least 15 billion euro to remain viable

In Europe asset managers struggle to go direct

Financial innovation in Jackson Hole

AI notetakers put investment firms on permanent record

Trading floors: when trades in Paris were still made at full volume

Morningstar: Bluebay versus Evli as auto bonds sell off