Bloomberg - Evening Briefing - Haley takes her shot

With Florida Governor Ron DeSantis gone, Nikki Haley pressed her attack on Donald Trump’s age and mental fitness over the weekend as she seeks an upset win—or a strong showing—in the New Hampshire Republican primary. “He’s just not at the same level he was in 2016,” the former South Carolina governor said of Trump on CBS’s Face the Nation. “I think we’re seeing some of that decline.” Haley, 52, has mostly steered clear of strong attacks on the 77-year-old former president, whom she served as United Nations ambassador. But she seized on Trump’s mental acuity after he repeatedly appeared to confuse her with former House Speaker Nancy Pelosi at a rally on Friday night. Her shift in tone comes as the critical vote looms Tuesday. Haley, who is also making a concerted effort to sway women voters, can sustain her presidential campaign into the next round of primaries even without a win in New Hampshire, the state’s Governor Chris Sununu said. —Natasha Solo-Lyons

A Florida bill backed by the state’s chief financial officer would create a $5 million fund to help pay for Trump’s mounting legal fees. State Senator Ileana Garcia, a Republican, has filed a proposal to create the “Freedom Fighters Fund,” which would provide financial support for Florida residents running for president who face legal action. Trump, who lives in Palm Beach, Florida, faces four felony indictments in state and federal courts and is also a defendant in civil litigation.

A rout in Chinese stocks listed in Hong Kong intensified on Monday, pushing their discount to mainland peers to the deepest in 15 years in the latest sign of growing pessimism among international investors. The steeper losses in Hong Kong, where some of China’s most influential and innovative firms are listed and Beijing’s interference is less felt, paint a more worrisome picture of global investor sentiment toward the world’s No. 2 economy. 

For hedge funds, catastrophes and the science behind them helped generate the best returns of any alternative investment strategy last year. The calculus around natural disasters such as hurricanes and cyclones fed record gains at funds managed by firms including Tenax Capital, Tangency Capital and Fermat Capital Management. All three delivered results that were more than double an industry benchmark, according to public filings, external estimates and people familiar with the funds’ numbers. 

Construction workers clean up debris in the aftermath of Hurricane Otis in Acapulco, Mexico, on Nov. 13. Photographer: Alejandro Cegarra/Bloomberg

Israel’s ground forces advanced deeper into the southern Gaza Strip on Tuesday, according to the Israeli army, with intense fighting with Hamas reported in an area where tens of thousands of displaced Palestinians are sheltering. The widened offensive came as Israel faced mounting international pressure to wind down fighting that has left thousands dead and secure a diplomatic agreement for a cease-fire and the release of Israeli hostages. 

After years of regulatory tinkering, Washington is now forcing through the most rigorous overhaul of the world’s biggest bond market in decades. Securities and Exchange Commission Chair Gary Gensler, who once oversaw federal debt management at the US Treasury, has championed a move to require the vast majority of Treasuries trading to migrate to a central counterparty clearinghouse—an intermediary between buyers and sellers that assumes ultimate responsibility for the transaction.

Gary Gensler Photographer: Al Drago/Bloomberg

One of Boeing’s biggest customers has lost confidence in the planemaker’s ability to overcome the ongoing quality lapses that culminated with a mid-air emergency on an Alaska Airlines flight this month. United Airlines Chief Executive Officer Scott Kirby is said to have been venting his frustrations about management to colleagues and voicing his concerns over the handling of the 737 Max grounding.

Figure Technologies, a blockchain and lending startup founded by former SoFi Technologies CEO Mike Cagney, is seeking approval from US regulators to issue an interest-bearing stablecoin. If successful, Figure will be offering the first stablecoin regulated as a security in the US. 

• Bloomberg Opinion: The DeSantis flameout should surprise no one.
• Bloomberg Opinion: Don’t confuse Netanyahu’s interests with Israel’s.
• Morgan Stanley, JPMorgan say buy the dip after Treasury rout.
• Bloomberg Opinion: The introverts have taken over the US economy.
• North Korean missiles face a reality check in Putin’s battles.
• Canada caps foreign student visas amid housing shortage. 
• The world’s largest cruise ship is a climate liability.

For years, Mexico was an afterthought among investment bankers, a perennial underperformer overshadowed by Brazil. But not anymore. Suddenly there’s growing conviction on Wall Street that the country is on the cusp of a breakout. Bank of America, Morgan Stanley and Goldman Sachs all predict investment banking revenue from Mexico will jump this year. JPMorgan CEO Jamie Dimon said his bank has “doubled or tripled” capital in the country over the past six years and sees a “great” outlook for growth.

The plant floor at Schneider Electric in Monterrey, Mexico Photographer: Alejandro Cegarra/Bloomberg

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