What we’re reading (3/31)
“U.S. Stocks Post Worst Quarter Since 2022 On Threat Of Trade War” (Wall Street Journal). “Worries about tariffs and the economy sent the S&P 500 and Nasdaq Composite to their worst quarters since 2022, a setback that is pushing some investors overseas…’For the first time in a while, you can have a conversation about: Might European equities be the best place to be for the next two or three years?’ said John Porter, chief investment officer at Newton Investment Management, which has been buying European stocks in many of its strategies in recent months.”
“First-Quarter GDP Growth Will Be Just 0.3% As Tariffs Stoke Stagflation Conditions, Says CNBC Survey” (CNBC). “Policy uncertainty and new sweeping tariffs from the Trump administration are combining to create a stagflationary outlook for the U.S. economy in the latest CNBC Rapid Update. The Rapid Update, averaging forecasts from 14 economists for GDP and inflation, sees first quarter growth registering an anemic 0.3% compared with the 2.3% reported in the fourth quarter of 2024. It would be the weakest growth since 2022 as the economy emerged from the pandemic.”
“Fed’s Williams Says Rates To Remain Steady For ‘Some Time’ Amid Trump Tariff Uncertainty” (Yahoo! Finance). “New York Federal Reserve president John Williams told Yahoo Finance he expects the central bank to keep rates unchanged for ‘some time’ as policymakers watch how new tariffs from President Trump affect the economy. The tariffs, he added in an interview Monday, could produce ‘more prolonged effects’ on inflation and he warned that it could take a few years to figure that all out.”
“The PE Glut: A ‘Towering’ $3.6TR Of Value Is Locked In 29,000 Unsold Companies” (Institutional Investor). “Private equity funds just have too much money: They are struggling to find potentially profitable investments, can’t sell companies they already own, and are being pressured by exasperated limited partners.”
“23andMe’s DNA Data Is Going Up For Sale. Here’s Why Companies Might Want It” (CNN Business). “23andMe, a standard-bearer for the at-home health movement, announced on March 23 that it has filed for Chapter 11 bankruptcy to facilitate a sale, prompting many of its 15 million customers to wonder: What happens to my genetic data now? Privacy advocates and two state attorneys general have urged Americans to delete their data on the service, even as 23andMe said the bankruptcy won’t change how it handles user data.”
