Republished with full copyright permissions from The San Francisco Press.

Wall Street’s Cloudy Quarter Has Some Rays of Sunshine [WSJ]
Amid fluctuating market conditions, the fourth quarter brought growth in debt capital markets. Despite volatility in stock issuance, companies turned to the bond or loan market with longer-term goals in mind. Debt underwriting saw a substantial uptick year-over-year, signaling a shift in financing strategies. While fixed-income intermediation at Goldman Sachs experienced a decline, financing within that unit, including lending to Wall Street clients, showed positive momentum. A similar trend was observed at other banks, with interest-driven trading-related revenue on the rise despite market trading revenue downturn.

Traders Heed Central Bank Pushback Against Bold Rate-Cut Bets [Bloomberg]
European Central Bank and the Fed officials adopted a cautious tone regarding monetary policy easing, influencing traders to adjust their rate-cut expectations. The central banks’ efforts to temper rate-cut enthusiasm have resulted in a shift in the market sentiment, with traders now betting on fewer cuts and revising the timing for the first moves, ultimately leading to a lower probability of reductions in the first quarter.

US judge blocks JetBlue from acquiring Spirit Airlines [Yahoo!]
A recent ruling citing U.S. antitrust law violations has not only thwarted JetBlue’s acquisition plans but also raised uncertainty about Spirit’s future. The ultra-low-cost carrier has faced profitability challenges amidst rising operating costs and persistent supply chain issues. The ruling’s impact was evident in Spirit’s shares, which experienced a significant decline, while JetBlue’s shares ended on a higher note.

UK inflation shows surprise rise, denting Bank of England rate cut bets [Reuters]
Contrary to expectations, UK inflation experienced an unexpected increase, fueled by factors such as a sharp rise in tobacco duty and seasonal air fare hikes. The surprising data prompted a Sterling strengthening and a jump in British government bond yields. As a result, interest rate futures now suggest a reduced probability of the Bank of England initiating rate cuts by mid-May, reflecting the impact of unforeseen inflation trends.

Ex-Millennium Trader Cowley’s Sandbar Shuts Down Hedge Fund [Bloomberg]
Amid shifting market dynamics, Sandbar, once a thriving entity, has decided to close its equities market-neutral fund due to factors such as declining assets under management and rising operational costs. The firm will now focus on managing its more liquid offering, the Lumyna – Sandbar Global Equity Market Neutral UCITS Fund, to align with evolving investor preferences.

Knicks, Rangers owner James Dolan accused of sexual assault, trafficking in lawsuit [CBS Sports]
A lawsuit alleging sexual assault and fraudulent activities involving James Dolan, the owner of the Knicks and Rangers, has raised serious allegations. The lawsuit brings to light concerning claims linked to Dolan’s purported actions, including involvement in coercive sexual encounters and facilitating meetings with individuals accused of sexual misconduct. These claims underscore the importance of addressing such sensitive matters with the utmost seriousness and gravity.