- Exec Sum
- Archive
- Page 49
Archive
Debt Ceiling = Reached
The US reached its debt ceiling again, big hedge funds are outperforming small hedge funds, Jamie Dimon expects interest rates to climb above 5%, Jamie Dimon also got paid $34.5M in 2022, Texas banned Citi from underwriting municipal bonds, and Reed Hastings stepped down as Netflix's CEO.
Citi bumps junior salaries
Trump is preparing for his Twitter comeback tour, the US is about to hit its debt ceiling (again), US 30Y mortgage rates hit their lowest point since September, Peter Thiel's Founders Fund cashed out $1.8B on crypto bets last year, Microsoft will lay off 10k employees, Amazon is beginning to lay off 18k, and Citi is bumping up salaries for junior bankers.
Goldman Clapped
Goldman had its worse EPS miss in a decade, 3AC and CoinFLEX's founders think they can save crypto, PWC resigned as Chinese developer Evergrande's auditor, Sequoia lowered its fees for two new funds, LVMH surpassed a €400B market cap, and Microsoft will cut thousands of jobs.
Tesla Slashes Prices
Yellen warned of US default risk, JPM and BofA continue to hire as Goldman cuts jobs, Tesla is slashing its prices, investors are buying billions in emerging market debt, Wells Fargo underperformed its peers in Q4, EVs made up 10% of all new vehicle sales last year, and the SEC brought charges against Gemini and Genesis.
Inflation Deceleration
US CPI growth slowed to 6.5% YoY in December, London IPOs dropped 90% in 2022, Sweden found the Earth's biggest deposit of rare earth minerals, Microsoft is granting US employees unlimited time off, Starbucks wants corporate workers back in the office, and Tim Cooks's pay will be more directly tied to Apple's stock performance.
Litquidity Enters Finance Recruiting
J Pow refused to comment on rate policy yesterday, US public pension debt topped $1.4T, Americans will receive a smaller tax refund this year, Bridgewater doubled down on China, Goldman no longer expects a eurozone recession, the FTC is probing Coca-Cola and Pepsi, and Southwest reshuffled its senior management roles.
Swiss National Bank Down Horrendously
Swiss National Bank lost $143B in 2022, Eurozone unemployment is at a record low, Bed Bath & Beyond is a meme stock again, Disney employees are being called back to the office four days per week, Rolls-Royce hit record sales in 2022, and UGA dominated TCU in the national championship game.
Goldman Sacks
Markets were up big on Friday, US VC funding fell 31% in 2022, Goldman is cutting 3,200 jobs this week, world food prices rose by 14.3% to a record high in 2022, Jack Ma will relinquish control of Ant Group, Salesforce aims to cut costs by $3-5B, Twitter made further staff cuts to its global content moderation team, and Vince McMahon will return to WWE's board.
Negative-Yielding Bonds No More!
Tech firms are leading the charge with job layoffs, the amount of global negative-yielding bonds has been reduced to ~$0, the FTC proposed banning non-compete clauses in employment contracts, Canada banned foreigners from buying homes in the country, Citadel posted record revenues, Southwest is facing a $1B revenue hit, hackers stole the email addresses of 200M+ Twitter users, and Putin ordered a temporary ceasefire to observe Orthodox Christmas.
AI Search Browser
Microsoft will incorporate ChatGPT into Bing, France inflation fell, the Fed plans to slow rate hikes, Manhattan home prices fell for the first time since 2020, GM led US auto sales, Roku launched its own TV brand, Ireland fined Meta $419M, and Ryanair hiked its full-year profit forecast.