BeBeez Trading Floor roundup with eToro support about the performances of private capital firms listed on global exchanges.
Even though on 15 May, Friday, Jerome Powell ended his chair at the US central bank while remaining part of the board and Kevin Warsh (more in line with President Donald Trump) replaced him, Investors don’t expect the Federal Reserve to cut any soon the official interest rate as inflation in USA rose from 3.3% to 3.8% because of higher energy and services costs.
Higher for longer rates affected NYSE-listed BDC Crescent Capital (-17.8%) and other public competitors as the companies to whom they provided loans will face a double-digit borrowing cost which is sustainable for no more than 18–24 months.
Buybacks instead boosted London-listed Pantheon International (+4.4%) that purchased 1.2 million shares and Paris-listed Tikehau Capital (+2.7%). NYSE-listed Brookfield Infrastructure (+3.2%) benefited from the knock-on effect of the strong quarterly results that its Canadian parent company released on 14 May, Thursday, reporting a 0,01 US Dollars increase in distributable earnings per share (press release).
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