Investments

The fund closes ahead of separate news that it formed the Private Real Estate Credit platform, which will originate senior and subordinated commercial real estate loans.

Rubin, who oversaw a shift to budget surpluses as Treasury chief under Democrat Bill Clinton in the 1990s after serving as co-chairman of Goldman Sachs Group Inc., said that while some federal spending can be cut, "as a practical matter" there's insufficient scope for that to rein in deficits.

Alternative asset managers, emboldened by the boom, will continue buying life insurers or seek more partnerships with them as they hunt for more capital to feed their dedicated funds.

The rally gained additional pace late in the session after President Donald Trump said there was no room left for a deal on Canada and Mexico tariffs ahead of their effective date Tuesday.

Apollo will assume about $2.2 billion of private credit and renewable assets from Irradiant, while RRAM will add almost $11 billion of CLO assets to its firm.

Treasuries gained for a sixth straight session. Morgan Stanley say the 10-year has scope to fall back below 4% if the prevailing view on the Fed shifts.

With that sizable fire power, Alcentra hopes to meet the growing market demand for collateralized loan obligations.

The French bank foresees CLO growth in U.S. and Europe but cautions wariness around the current administration's potential impacts to inflation and the economy.

The confabs are a sign that Republicans are getting serious about negotiating the contours of a tax deal, even as the House and Senate are pursuing separate strategies.

Bessent had repeatedly criticized then-Treasury Secretary Janet Yellen for boosting the share of bills in US debt.

Refis and resets surge in January as AAA spreads continue to tighten

Long-maturity yields rose as much as four basis points, with the 10-year note's stalling at around 4.53%. A gauge of the dollar held steady after two days of gains.

Collateralized loan obligation activity should increase despite higher-for-longer rates and liability management exercises.

The yield on 10-year US notes fell as much as 12.5 basis points — the most intraday in almost two weeks — to 4.50%, before paring the decline.

Investors and analysts see pockets of value in asset-backed securities, as elevated fiscal policy uncertainty and wariness about the economic environment rise.

By Tuesday's close, they were back well below the 5% mark, with the 30-year's lower on the day by six basis points to 4.80%.

The issuance marks the first time a multilateral climate fund is turning to the capital markets, as cash-strapped developed nations balk at providing the funds needed to cut greenhouse gas emissions.

Wednesday brings the next pivotal data point, with the release of the latest consumer-price figures, which are forecast to show inflation remains sticky.

The $1 billion deal included classes A-L-A and A-L-B were offered as loans.

The movements were spurred by jitters around persistent inflation and ballooning government debt, leading futures traders to wager that the Fed is unlikely to ease monetary policy again until late 2025.