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Driven by new cash and a belief that the Fed has served up a soft economic landing, normally sober debt investors are joining the boom that’s sent stocks and Bitcoin to giddy heights.
Some of private credit’s biggest lenders argue such trading would undermine this advantage by forcing them to constantly value the assets on a marked-to-market basis, rather than at their discretion, inviting volatility.
Dallas saw three of Wall Street’s largest banks start on new campuses this year, cementing their bets on one of the fastest-growing metros in one of the fastest-growing states.