📣 Create Blog for Traders!
Stop Watching news - Start Making it.

The number that stuck with me this week wasn't the SPX hitting another high. It was this: in one Cliffwater fund, investors tried to pull out 14% of the assets and only got 7% back. That’s a gate. And when financial giants like Morgan Stanley and Cliffwater start limiting withdrawals from their corporate lending funds, my old market-maker instincts...

Everyone is fixated on the news that Morgan Stanley and Cliffwater are gating withdrawals from their private credit funds. But they're asking the wrong question. The question isn't 'Is private credit in trouble?' The real question is 'What does this tell us about the public markets?' From where I'm sitting, this is the first major crack in the foun...