What we’re reading (10/20)
“What Is ‘Normal’ For Interest Rates?” (Morningstar). “For many investors, it may seem like the current environment is an aberration. Instead, bond watchers say the rate landscape we’d known since the 2008 financial crisis was the true anomaly. That means investors may need to get used to these conditions. ‘We’re in a more normal period of interest rates,’ explains Kristy Akullian, iShares senior investment strategist at BlackRock. ‘The last 15 years were the exception rather than the norm.’ She notes that over the past 60 years, 10-year Treasury yields have averaged about 5.9%.”
“Amazon Confronts A New Rival: TikTok” (Wall Street Journal). “TikTok made a name for itself in the U.S. as a viral video-sharing sensation. Now it’s trying to get its 150 million U.S. users to think of it as a shopping destination. Amazon, meanwhile, is trying new tactics to maintain its dominance in e-commerce. It has added social elements to its app to entice younger shoppers, and it is building up a network of influencers who hawk items on and off its website.”
“Tyson Foods, One Of The Biggest Meat Producers, Is Investing In Insect Protein” (CNN Business). “The meat processor said on Tuesday that it has invested in Protix, a Netherlands-based insect ingredients maker. Tyson is not only taking a minority stake in the company, but is working alongside it to build a US factory. That facility will use animal waste to feed black soldier flies, which will then be turned into food for pets, poultry and fish. Tyson did not disclose the financial specifics of the deal.”
“America Needs A Grand Strategy For Outer Space” (The Hill). “Of all the areas that demand our attention in U.S.-China competition, outer space is uniquely important. Space has tremendous untapped economic potential and is becoming increasingly accessible. In the next five years, the global space economy is projected to grow to $800 billion.”
“Nonprofit Hospitals Skimp On Charity While CEOs Reap Millions, Report Finds” (ars technica). “Nonprofit hospitals are under increasing scrutiny for skimping on charity care, relentlessly pursuing payments from low-income patients, and paying executives massive multi-million-dollar salaries—all while earning tax breaks totaling billions.”
