What we’re reading (3/26)
“Baltimore Bridge Collapse Reverberates From Cars To Coal” (Bloomberg). “As much as 2.5 million tons of coal, hundreds of cars made by Ford Motor Co., and General Motors Co., and lumber and gypsum are threatened with disruption after the container ship Dali slammed into and brought down Baltimore’s Francis Scott Key Bridge in the early hours of Tuesday.”
“Is Private Equity’s Bet On Life Insurance Turning Sour?” (Financial Times). “The IMF is urging regulators to consider the risks to the financial system posed by insurers either owned by — or whose assets are managed by — private equity groups. It calls them ‘PE-influenced’ insurers. Such firms, it said, were “more vulnerable” to a credit downturn, due to their higher proportion of illiquid assets, a situation that could be “aggravated” by the embedded leverage in structured credit.”
“The Stock Market Is Seeing One Of The Strongest 1st Quarters Of The Postwar Era. What That May Hold For The Rest Of 2024.” (MarketWatch). “It’s the final week of the first quarter and the S&P 500 is on track for a price gain of nearly 10% — and has rallied nearly 30% off its Oct. 27 closing low — leaving investors to ponder just how much good news is already baked into the market.”
“Boeing’s Embattled CEO Is Poised To Walk Away With Millions” (CNN Business). “Exactly how much Calhoun will receive isn’t clear yet, as it depends on how Boeing’s stock performs. A Boeing spokesperson said that details of his compensation will be shared in company filings in the coming weeks. But we already know that Calhoun has made about $63 million over the past three years in total compensation, according to regulatory filings. That includes a $1.4 million base salary, plus millions in stock-based incentives.”
“Why Treasury Yields Are Rising Despite Rate-Cut Expectations” (Wall Street Journal). “Inflation readings for January and February came in firmer than expected, and economic growth has proved resilient, forcing investors to dial back their rate-cut bets. Now, traders expect rates to end the year between 4.5% and 4.75%.”
