Risky Bank Debt Is Rationally Exuberant

Published on October 9, 2025

One obvious tweety bird is the riskiest type of bank debt, known as perpetual additional tier one bonds. These securities allow regulators to wipe out investors if a bank fails, but to compensate they offer the highest yields for lending to financial firms.

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Gold Isn’t the Warning Ken Griffin Worries About

October 9, 2025
In the history of Wall Street, few have been as successful as Ken Griffin. Over the past three decades, he has built his Citadel hedge fund into a global financial behemoth, helping Griffin accumulate a personal net worth of about $48 billion. So when he makes a market call, it’s worth paying attention.

Financial Markets Look Beyond the Government Shutdown

October 9, 2025
The US government shut its doors on October 1. Republicans and Democrats couldn’t agree on a spending bill, so non-essential portions of the government are closed until further notice.