posted at 04:50
Author Name: Rob Wile
Opening Bell June 30
The French firm is accused of violating U.S. sanctions. Bloomberg reported its dollar trading ban won't begin until 2015. "Blackstone's trading teams will pitch their best ideas to a group including new hire Parag Pande, formerly of closed hedge-fund firm Ziff Brothers Investments, risk officer Gideon Berger and Mr. Hill. If it likes the ideas, Blackstone will give the team additional cash to piggyback on the trades or use the ideas in other firm products." It also brought forward its rate hike estimate, suggesting the Bank of England will lift rates to 1% by the end of next year. Mortgage approvals hit an 11-month low as tighter lending standards took hold. It will get a 30-day grace period though, and bonds are trading at levels suggesting investors believe a deal will be reached with debt-holding hold-outs. The $1.75 trillion-worth of deals is the most ever through the first half of the year. U.S. futures were doing nothing.

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