The WSJ's Fed team breaks down exactly what soft inflation means as it aims for a 2% target rate.
Mon Sep 18 BIS Financial Stability Institute conference in Basel. Mark Carney at the IMF. CFTC chair, staff at swaps policy event in DC. ABS East in Miami Beach. EU-U.S. data privacy review in DC. | Tue Sep 18 Senate Finance business tax hearing. UN General Debate opens. | Wed Sep 20 IOSCO risk committee in Toronto. FOMC rate decision. | Thu Sep 21 MSRB EMMA webinar. | Fri Sep 22 FSOC closed meeting on nonbank SIFIs. September equinox.
Risk Retention "... an entire ecosystem has been created around financing the portion of risk in each deal that needs to be retained. Fund managers have created risk-retention funds that have lured billions of dollars from big institutions around the world. Some of these investors wouldn't have otherwise invested in CLOs, particularly the riskiest slices of them, because those pieces are often sold in small increments and sometimes aren't worth the time of big investors. "Wells Fargo's David Preston estimates that more than $7 billion has been raised for such risk-retention funds since March 2016. It's unlikely that CLO managers will be eager to give up these investors, who seem to like the way this structure works." Bloomberg Gadfly's Lisa Abramowicz on the collateralized loan obligation market
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