What we’re reading (3/19)
“Morgan Stanley Says Rising 10-Year Treasury Yields Is Reasonable As Confidence In U.S. Economy Grows” (CNBC). “Morgan Stanley said the rise in 10-year Treasury yields is reasonable and a reflection of the growing confidence in the U.S economic outlook, according to Jim Caron, global fixed-income portfolio manager at the investment bank.”
“The New Stimulus Act Offers Big Benefits for Families” (Wall Street Journal). “The coronavirus-relief legislation signed by President Biden earlier this month contains unprecedented benefits for families with children and other dependents—especially for some who plan carefully. The new benefits, which apply for 2021, are largest for low-income families, but they extend well into the middle class, with many eligible for more than $10,000 in tax-free income for this year. Higher earners can also benefit from some changes, such as expanded tax breaks for child-care costs.”
“Paris Goes Into Lockdown As COVID-19 Variant Rampages” (Reuters). “France imposed a month-long lockdown on Paris and parts of the north after a faltering vaccine rollout and spread of highly contagious coronavirus variants forced President Emmanuel Macron to shift course. Since late January, when he defied the calls of scientists and some in his government to lock the country down, Macron has said he would do whatever it took to keep the euro zone's second largest economy as open as possible.”
“Goldman’s First-Year Bankers Beg to Work Only 80-Hour Weeks in Stinging Deck” (Bloomberg). “Hundred-Hour weeks on the job. Declining physical and mental health. The heightened chance of fleeing the bank in very short order. Those are among the laments of 13 first-year analysts in Goldman Sachs Group Inc.’s investment-banking group who surveyed themselves, according to a presentation making the rounds on social media.”
“Coinbase Trades Investor Roadshow For A Reddit Q&A” (Coinbase). “Coinbase is opting for a question-and-answer session on online forum Reddit lasting through Friday evening and a series of explainer videos ahead of its public debut, in lieu of a more traditional roadshow or live-streamed presentations for investors…[m]uch about Coinbase's public listing is already unusual—it'll be the Nasdaq's first major direct listing, and it will be the first U.S. cryptocurrency company to become publicly-traded. It's also a nod to the cryptocurrency industry's roots in online forums and where many of its biggest enthusiasts still convene.”
