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First Boston v2
US consumer sentiment is improving, the pound keeps losing value vs the dollar, Credit Suisse is considering bringing back the First Boston brand, China raised its US treasury holdings, Bank of America will offer zero-down mortgages to minority first-time homebuyers, India's Gautam Adani is the world's second-richest man, and Biden declared the pandemic "over".
Ligma Figma
Roger Federer announced his retirement, Kanye is breaking up with Gap, Manhattan workers are returning to the office, Amtrak will resume its normal operations, mortgage rates top 6% for the first time since '08, the DOJ is changing how it prosecutes companies, Patagonia's founder "donated" the company to non-profits, tech-focused hedge funds are taking massive L's, Apple and Amazon passed on LIV Golf media rights, and Adobe is purchasing Figma for $20B.
Merge Complete
Markets bounced back a bit from Tuesday's drop, Ethereum merged (not M&A tho), US child poverty hit a record low, Amtrak canceled long-distance trains, Tesla is changing their battery strategy, Starbucks is predicting 20% annual EPS growth, Twilio had a round of layoffs, and California is suing Amazon.
Markets Down Bad
Inflation came in hot, stocks and crypto tanked, Credit Suisse may give its senior bankers equity in the IB business, Ukraine is recapturing land from Russia, Ark's Cathie Wood is worried about deflation, former Disney CEO Robert Iger is joining a VC fund, Google is developing chips for US researchers, and Mr. Beast's manager wants to bankroll the creator economy.
Eurocession Imminent
Yellen said the economy is strong but so is inflation, Tesla tripled its China deliveries, EY is spinning off its audit and consulting units, BetMGM is opening its first betting parlor at the Cardinal's stadium, and Neumann's startup Flow will use crypto (obviously).
Kardashian Kapital
Kim K launched a private equity firm, the dollar continues to surge, mortgage rates are back to June levels, VCs poured billions into crypto, Truss has a new power subsidy plan for the UK, Serena's last tennis match was the most watched in ESPN history, and Musk will use whistleblower claims in his lawsuit.
Airports Are Bussin' Again
Labor Day air travel passed pre-Covid levels, Europe energy companies are getting margin called, Russia blames the US on European gas woes, Citi wants to lend to people without credit scores, junk bond defaults hit $6B last month, Elizabeth Holmes wants a new trial, Thoma Bravo is opening a UK office, and Juul is paying a fat fine for underage vaping.
Germany's New Stimulus Checks
Liz Truss is the UK's newest Prime Minister, the euro keeps crashing, ocean shipping rates are down 60% YTD, Israel is banning Boeing 747s, Ireland fined Instagram $400M, Germany is fighting rising energy prices with new stimmy checks, and home prices are dropping in the US.
Gas Prices Are Cooling Off
US gas prices have fallen to pre-Ukraine invasion levels, US mortgage demand keeps slipping, Asia IPOs were hot in August, Eurozone inflation hit a record high last month, Russia put more pressure on Europe's energy grid, and US life expectancy declined by a year from 2020 to 2021.