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- Page 42
Archive
Debt Default Crunch Time
Biden and McCarthy are meeting today to try and avoid a debt default, Exxon is betting big on lithium, China has a $23T local debt problem, Blue Origin won a Nasa contract, Goldman thinks the Treasury will drop below its cash minimum in June, and China wants to rival the US with its own Starlink-like network.
DeSantis vs Disney
Disney is stopping Florida investments due to feud with DeSantis, China’s loans are hurting some of the world’s poorest countries, the US Supreme Court leaves internet company protections unscathed, Meta announced AI training, Lazard CEO Ken Jacobs is preparing to step down, and OpenAI is introducing ChatGPT for iOS.
Montana Banned TikTok
Montana banned TikTok, global debt is hitting record highs, the writers’ strike could impact Netflix and Disney content, Tesla might start advertising, Google is planning new AI models for ads and YouTube creators, and Meta is facing a record EU data security fine.
Altman Wants AI Regulation
Lyft’s CEO is stepping down, the Fed is debating a pause in interest rate hikes, Sam Altman wants AI regulation, the IRS is testing a free e-filing system, homebuilder sentiment has rebounded from negative territory, and China’s recovery is losing steam.
Burry Bought the Bank Dip
Late debt ceiling talks and plunging tax revenue have put pressure on Congress, CEO pay fell for the first time in a decade, Musk was subpoenaed over JPM’s ties to Epstein, Burry bought the bank dip, the US is buying more oil for its strategic reserve, and Sam Altman will testify before Congress.
Tiger Global Has Paper Hands
Tiger wants to offload some of its private investments, Twitter named a new CEO, Apple is testing new chips, emerging market currencies might be on the cusp of a rally, bean shortages are sending coffee prices through the roof, Argentina is hiking rates, and Sam Altman’s crypto startup is raising $100M.
Microsoft x Activision Is Back (Probably)
UK regulators are expected to approve Microsoft’s acquisition of Activision, Tether increased its T-Bill holdings to $53B, Robinhood is facing regulatory probes, Tucker Carlson is staying on Twitter, Spotify removed thousands of AI-generated songs, and TikTok delayed fully opening a US shop.
Another Debt Ceiling Standoff
G-7 leaders are grappling with bank risks, the Metaverse could be a big player in the US economy in a decade, the US trade chief is meeting with China, wages are rising across England, the NYT signed a $100M deal with Google, and White House debt meetings failed to yield a breakthrough.
US Risk-Free Debt (Not)
America’s risk of a debt default is gathering steam, Charles Schwab began hedging interest-rate risks, PE firms are facing a new wave of portfolio company bankruptcies, buy now, pay later apps are rejecting users, IBM expects to replace ~8k jobs with AI, and retail traders are making risky bets on regional bank stocks (but who’s surprised??)
Buffett Sold Some Stocks
Buffett’s Berkshire was a net seller in Q1, the labor market doesn’t care about higher interest rates, the White House is scrambling to handle the debt ceiling dilemma, US regional bank shares have recovered slightly, China’s forex reserves hit $3.2T, and crypto is regaining momentum.
Tim Cook Saved the Stock Market
Regional bank stocks keep falling due to contagion fears, a pause in rate hikes might be around the corner, gold prices are approaching all-time highs, the FDIC plans to hit big banks with fees to refill deposit insurance, and Apple managed to once again support the global economy with another earnings beat.