WS #11182
US ISM Manufacturing PMI missed estimates, ADP employment missed, but Fed Chair Warsh reiterated hawkish stance, reducing rate cut expectations. BlackRock's private credit fund CEO Phil Tseng is exiting amid losses and regulatory probe, highlighting stress in private credit markets.
Macro data and Fed hawkishness
US ISM Manufacturing PMI missed estimates, ADP employment missed, but Fed Chair Warsh reiterated hawkish stance, reducing rate cut expectations.
BlackRock's private credit fund CEO Phil Tseng is exiting amid losses and regulatory probe, highlighting stress in private credit markets.