Disney stops paying 100,000 workers, roughly half its workforce, even as it protects executive bonus schemes and a $1.5 billion dividend payment due in July.
Lisa Abramowicz
30K posts
Lisa Abramowicz
@lisaabramowicz1
Co-host of @bsurveillance
- The U.S. Treasury saw a 31% drop in corporate tax revenues last year, almost twice the decline official budget forecasters had predicted. Receipts were projected to rebound sharply this year, but so far they’ve only continued to fall.
- Deutsche Bank is exploring ways to hedge its exposure to data centers. It's looking at options including shorting a basket of AI-related stocks and buying default protection via synthetic risk transfers.
- Did quantitative tightening just end? The Fed’s balance sheet grew by about $300 billion in the past week as the U.S. sought to backstop deposits at regional banks.
- The gap between 2-year and 10-year Treasury yields is now the most inverted since 1981:
- Gold's parabolic move toward $4,000 is sending a warning signal to the traditional financial system: developed-market nations are losing clout as being good stewards of capital.
- The UK faces the doom loop of rising borrowing costs, growing deficits and a government facing a lot of bad choices to raise revenues. Yields on 30-year gilts have reached their highest levels since 1998. (1 of 3)
- UPS just disclosed that the company has eliminated 34,000 jobs this year, above the 20,000 cuts it previous said it was targeting. Amazon said it's cutting about 14,000 jobs. GM has laid off more than 200 employees. Target plans to cut about 1,000 jobs. Anecdotes or a trend?
- Powell to markets: "We're not cutting rates this year." Markets to Powell: "Yes you are."
- The pound is in free fall. It hits a new record low and is quickly heading toward parity with the US dollar.
- The gap between 2-year & 10-year Treasury yields is the most inverted, the most negative, since the early 1980s.
- Goldman Sachs expects gold to surge to $4,000 an ounce by mid-2026. If the Fed's credibility gets significantly eroded, GS sees gold nearing $5,000. Gold prices have already doubled in the past three years. bloomberg.com/news/articles/…
- Food prices are soaring at a record pace, rising another 13% in March.
