Congress has 14 working days to keep government funded, provide COVID-19 relief

Posted On Nov 20 2020 by

first_imgAlready, House Republicans are resisting an omnibus bill, and raising questions about whether Trump would even sign one. It’s also a question whether he’d sign another CR or a coronavirus stimulus package, when it comes down to it. If Trump really wants to upend the nation and the election (states have to certify the election by Dec. 8, the electoral college votes Dec. 14, the formal joint session of Congress to declare the official results is Jan. 6) he can refuse to fund the government. Whether enough Republicans in Congress would be nihilistic enough to refuse to override his veto is an actual question. Because it is 2020 and anything, absolutely anything, could happen.On coronavirus relief, McConnell has yet to budge in his rhetoric and he and House Speaker Nancy Pelosi haven’t had any recent talks. Trump did tweet out one of his usual exhortations on Saturday: “Congress must now do a Covid Relief Bill. Needs Democrats support. Make it big and focused. Get it done!” Never mind that “big” and “focused” are in direct opposition right now—Pelosi wanting “big” and McConnell wanting “focused.” Who knows what Trump wants, other than to magic away election results and pretend like he’s not going to be vulnerable to prosecution in New York State in 64 days.- Advertisement – – Advertisement – Who knows at this point what any of this means for the next month. The only thing certain is that as cases and hospitalizations and deaths from coronavirus surge, as states increasingly have to shut down again, the economic pain increases even more. Thousand upon thousands of people face hunger, eviction, and financial ruin. And the obstruction of McConnell is making it worse. “More businesses will be at risk of permanently going out of business, which would dampen labor demand and potentially spur new rounds of layoffs. This suggests the labor market recovery could meaningfully slow or even reverse in coming months as the country tries to get the virus under control,” economists at Bank of America warned last week.That apparently is a feature and not a bug of McConnell’s plan to obstruct assistance. He wants to hamstring the Biden administration before it even begins. He doesn’t care who—or how many—suffer in the offing.last_img read more


Swiss pension fund tenders private debt mandate using IPE Quest

Posted On Sep 29 2020 by

first_imgAn undisclosed pension fund based in Switzerland has tendered a $50m (€46m) global developed market private debt mandate using IPE Quest.The mandate is for a long-only multi-credit strategy, to include US/European leveraged loans, structured credit (ABS, CLOs, CMBS/RMBS) and US/European special situations (corporate and private real estate and stressed/distressed).According to search QN-2141, the client requires managers to use a value style, with an active investment process.The target return is more than 8% in US dollars. There is no benchmark.Applicants should have a track record of at least one year, and preferably three years.Interested parties should state performance, net of fees, to 31 December.However, there is no required minimum for assets under management – either for the asset class itself or the asset management company as a whole.The deadline for applications is 8 January 2016.The IPE news team is unable to answer any further questions about IPE Quest tender notices to protect the interests of clients conducting the search. To obtain information directly from IPE Quest, please contact Jayna Vishram on +44 (0) 20 3465 9330 or email jayna.vishram@ipe-quest.com.last_img read more