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Hedge funds caught on the wrong side of this week’s slump in French bonds were forced to unwind bets rapidly, fueling wild moves that European markets struggled to absorb.
We haven't written up this one. Bloomberg has the full story — the link below goes straight to it.
As of 11:38 AM ET, the Nasdaq Composite (NASDAQINDEX:^IXIC) is up 1.18% to 27,191, hitting a record high as soft labor data boosted tech stocks.
The economy added fewer jobs in September and unemployment ticked up, while inflation has maintained pressure on markets and raised costs.
Freiberger paid $17.98 per share, a significant premium to the $3.43 market close, signaling confidence in the Brazilian bank's outlook.
