Michael Peltz

The most anticipated tech-related IPO in recent memory has turned into a dud of sorts. And at least two well-known hedge funds are feeling the impact. The Friday offering incorporated many of the buzzwords needed to reignite the IPO market given CoreWeave’s role in artificial intelligence and the fact that Nvidia, with which CoreWeave has a close relationship, is a major investor.

There is no longer one standard stock-bond correlation for all U.S. equities. According to D.E. Shaw, it all depends on the style, sector, and individual stock itself. The interest rate sensitivity of the stock market has been increasing since 2012, according to the latest research from the quantitative investment manager. That means stocks that previously fell when interest rates rise are now falling further, while those that previously rose with interest rates are now gaining more than before.

When Gilbert Kaplan, founder of Institutional Investor, walked into editor Peter Landau’s office one warm summer day in 1972, little did either man realize the profound impact that Kaplan’s request would have on the magazine — and on the industry it covers. Kaplan, a former economist at the American Stock Exchange who had launched II five years earlier at the tender age of 26, told Landau, “We’ve got to do a story about the best analysts on Wall Street,” the former editor recalls.