Super advanced fuckery market might come soon.. lower bond yields amid mild economic slowdown and china trying to stimulate the economy. Macro furus in McDonaldzuela
— 🅰🅻🅴🆂🆂🅸🅾 (@AlessioUrban) November 1, 2023
You want to be bullish, go for it. But chasing $AAPL and $NVDA into earnings here after the run they've both already had and after what we've heard from suppliers and peers is pretty high risk/low reward.
— RJR Capital (@RJRCapital) November 1, 2023
Share value getting undercut 40% by a mini tender offer 🤣
Sometimes I do love Capitalism t.co/Vm2TFxNw2v
— Amy Nixon (@texasrunnerDFW) November 1, 2023
Blackstone Shareholders Get Mini-Tender Offer From MacKenzie
MacKenzie Capital Management has offered shareholders of Blackstone Real Estate Income Trust (BREIT) an immediate cash payment of $9.27 per share, which is nearly 38% below BREIT’s net asset value of $14.88 per share.
MacKenzie’s offer of quick cash for nontraded BREIT shares, known in the industry as a mini-tender offer, is for up to 1.5M shares and expires on December 11.
MacKenzie is aiming the offer at BREIT shareholders who have been filing redemption requests with the $70B fund since November 30 2022, when BREIT began prorating these withdrawals.
A statement issued by the California-based firm noted that BREIT does not maintain a backlog of redemption requests, forcing fund investors to refile their claims each month in order to gradually recoup the full amount requested.
It seems that the Fed believe they are on track for a "soft landing."
But Powell also said that some labor market softening is needed still.
The question becomes how much labor market softening is needed.
Follow us @KobeissiLetter for real time analysis as this develops.
— The Kobeissi Letter (@KobeissiLetter) November 1, 2023