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Tick tock TikTok
Norway’s SWF chief said 'Europeans are less hard-working' than Americans, Kim Kardashian’s PE firm is facing fundraising hurdles, McKinsey is under criminal investigation, KPMG UK canceled some foreign graduate job offers, and the TikTok sell-or-ban bill was signed into law.
Your long = their short
Short sellers had their most profitable week ever, NYSE is testing appetite for 24/7 trading, rates traders are flocking from banks to hedge funds, Tesla shareholders are bracing for disappointing earnings, and a premier tail risk fund thinks rate cuts will signal a market crash.
Markets on High Alert
AI may make IB analysts redundant, Norway’s wealth fund will not invest in PE, credit card delinquency is the highest on record, China capital markets activity is at a multi-decade low, crypto dived on Iran-Israel tensions, and bank outlooks weighed as markets saw a major selloff.
Busted Inflation Bets
The record-sized rate futures bet blew up, KPMG and Deloitte were fined for exam cheating, commodities giants do not care to IPO, Fitch cut China’s credit rating to negative, options selling is helping temper stock market volatility, and retail investors are loving the risk.