Laurence Fletcher

Yield on two-year Treasury falls below 10-year counterpart as inversion in closely watched indicator ends

Bets on US Treasuries and yen put London-based firm among big winners from early August volatility

Elliott says Nvidia is in a ‘bubble’ and AI is ‘overhyped’

Some doubt the value of the “illiquidity premium” offered by private market assets

In 2021, an ambitious technology entrepreneur made plans to host a football competition featuring global superstars Cristiano Ronaldo and Lionel Messi. Robert Bonnier planned to spend an estimated €80mn-€110mn to recruit the world’s top players, according to documents seen by the Financial Times. “The Fans Cup”, to be held either in London or Cardiff, would focus attention on Bonnier’s company Aaqua, a social media start-up. Bonnier says The Fans Cup was an earlier project not connected to Aaq…

One of the cryptocurrency industry’s highest-profile hedge fund firms has been accused of “criminal” mismanagement and raided by a Swiss prosecutor, in a dispute with an investor over losses suffered following the collapse of crypto exchange FTX. Geneva-based Tyr Capital Partners is alleged to have ignored an internal risk limit and investor warnings over its exposure to FTX, according to legal documents filed in the Cayman Islands by an investor and seen by the Financial Times. The action has…

The market for top-end Burgundies, vintage Champagnes and other fine wines has soured this year, as higher interest rates and a slowdown in the Chinese economy catch up with the once-booming asset class. The price of Burgundy has dropped 15.7 per cent this year to the end of November, according to wine exchange Liv-ex’s Burgundy 150 index. Top-end vintage Champagne is down 17.2 per cent, while wines from France’s Rhone valley have lost 19.4 per cent in price on average, according to Liv-ex indi…

Blackstone is to close a fund that offers investors exposure to a range of hedge funds and other trading strategies, after assets fell nearly 90 per cent in four years amid lacklustre returns. The US alternative asset manager has told investors it will wind down the Blackstone Diversified Multi-Strategy fund by the end of the year, the group told the Financial Times. The so-called Ucits fund is governed by EU rules that make it easier for non-specialist investors to buy. Multi-strategy Ucits f…

News, analysis and comment from the Financial Times, the worldʼs leading global business publication

News, analysis and comment from the Financial Times, the worldʼs leading global business publication