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- Page 38
Archive
Bear Market for New Hire Salaries
Microsoft is divesting console gaming streaming rights to persuade regulators to approve its Activision acquisition, S&P downgraded multiple banks, Schwab will cut staff, mortgage rates hit highest point since 2000, financial firms are being lured to the south, Meta is launching a web version for Threads, and companies are cutting pay for new hires.
Russia's Lunar Accident
Russia crashed a spacecraft into the moon, all eyes are on Powell in Jackson Hole this Friday, China cut its one-year benchmark lending rate, the iPhone 15 might have a new charging port, Messi has caused single-game MLS ticket prices to jump by 1,700%, and oil prices rose on lower OPEC+ exports.
Scorching Hot Mortgage Rates
Mortgage rates hit a 20-year high, the stock market rally is creating retirement account millionaires, Japan insurers are turning their eyes to private credit, striking writers are taking an antitrust aim at Disney, Amazon, and Netflix, Tesla cut its prices in China, and Goldman is planning a hiring spree to fix lapses after Fed scrutiny.
Americans Are Blowing Cash
The Fed may raise rates further, bond yields are at 15-year highs, Americans have almost depleted their savings, Goldman blames 0-DTE options for the S&P selloff, NYC banned TikTok on government devices, and Coinbase won approval to offer crypto futures trading in the US.
Fogo de Bain
Fitch may downgrade dozens of banks, Hindenburg has a new short target, US retail sales topped forecasts, Bain acquired Fogo de Chão, US Steel takeover talks have manufacturers concerned, hedge funds beefed up their AI bets, and Home Depot’s inflation pressures eased.
New Hollywood Writer Deal Just Dropped
Hollywood studios have offered writers a new deal, Burry is shorting the market again, UBS will pay billions to settle a DOJ mortgage-bond case, China cut key rates, hedge funds are preparing for a legal battle with the SEC over fee disclosures, and physical markets are helping push oil to $90.
Cage Fight Canceled - Zuck
Zuck says the fight with Musk is off, the US housing market is recovering, Goldman expects a Fed rate cut in Q2 2024, the latest stock market rally has stalled, Amazon is racing to catch Microsoft and Google in generative AI, airlines are adding more high-end seats, and China hedge funds are down bad
Fed Pause Pending
The Fed is expected to pause, but not pivot, after a tame inflation report, Deutsche Bank’s asset manager is targeting a Holy Grail of the world’s ultra-rich, Morgan Stanley hopes for a drama-free CEO handoff, Disney wants sports leagues as ESPN partners, tech investors are wary of ‘new era’ of China investment restrictions, and the US is set to crack down on real estate money laundering.
Truck Driving > Financial Modeling
UPS drivers are getting paid like investment bankers, Citadel boosted its fixed income presence, Brookfield expects record inflows in 2023, WeWork’s struggles paint a dim picture for the NYC office market, the FAA extended cuts to airlines’ minimum flight requirements from NY airports, and Portnoy bought Barstool back for $1.
Dave Portnoy takes back the pirate ship
Dave Portnoy bought back 100% of Barstool from Penn, WeWork is a going concern, Wall Street bankers got fined big time for illegal texts, ESPN is launching a sportsbook with Penn, Zoom wants employees back in office, Tesla’s CFO made a fortune, and some savings accounts have higher interest rates than millions of mortgages.
Berkshire Hit a Record High
US consumer credit card debt exceeds $1T, stocks closed in the green, Credit Suisse is cutting 80% of its Hong Kong IB jobs, Berkshire closed at a record high, Tesla’s CFO stepped down, Apple’s iPhone 15 is reportedly set for mid-September launch, US tech groups are backing TikTok’s challenge to Montana’s state ban, and banks want to dump property loans.
Billion Dollar Barbie
Barbie is on pace to top $1B in the box office, UBS is set to shake up its IB division, Musk says his fight with Zuck will be streamed on X, global investors are pivoting from China to Japan stocks, and SoftBank is benefiting from the rebound in tech valuations.