What we’re reading (1/6)
“Four Years After Capitol Riot, Congress Certifies Trump’s Victory Peacefully” (New York Times). “A joint session of Congress on Monday certified President-elect Donald J. Trump’s victory in the 2024 election, peacefully performing a basic ritual of democracy that was brutally disrupted four years ago by a violent pro-Trump mob inflamed by his lie about a stolen election.”
“Nippon Steel And US Steel File Lawsuits Over Blocked Takeover” (Semafor). “The companies also filed a separate lawsuit against rival steel company Cleveland-Cliffs, its CEO, and the President of the United Steelworkers union, citing ‘illegal and coordinated actions aimed at preventing the transaction’ and undermining Nippon and US Steel’s business practices.”
“‘Enter At Own Risk’: Why Raging Optimism For 2025 Is A Risk For Stocks And The Economy” (Business Insider). “Investors excited for another strong year for the economy and stock market could be getting in their own way — and growth may end up falling short of 2025 expectations, BCA Research said...BCA Research has the most bearish stock market call on Wall Street for 2025. In a previous note, the firm said it still saw a recession as the base case and predicted the S&P 500 would end the year at 4,452, a 26% downside from the index's current levels.”
“How Do People Survive Plane Crashes That Kill Nearly Everyone Else?” (Wall Street Journal). “Investigators assessing the survivability of a plane crash focus on five factors: integrity of the aircraft, effectiveness of safety restraints, G-forces experienced by passengers and crew, the environment inside the aircraft and postcrash factors such as fire or smoke. The two flight attendants who survived the Boeing 737-800 crash were seated in the very back of the plane, which was the only recognizable part of the aircraft left intact.”
“2025 Bond Market Outlook: Yields Range-Bound But Volatile” (Morningstar). “The US economy is expected to post steady growth, without overheating or sliding into recession. At the same time, inflation is expected to remain under control but not fall significantly. Against that backdrop, the Federal Reserve is seen as unlikely to make big changes in monetary policy. Add these factors up and it could mean a bond market that largely bounces back and forth in well-defined ranges, most likely within the highs and lows carved out in 2024.”
