What we’re reading (3/9)
“Markets Are Telling Investors Two Things At Once” (Wall Street Journal). “There is a big puzzle in today’s market: Treasurys appear to be anticipating a recession, while stocks and corporate bonds aren’t, despite recent falls. How can such big markets be sending such different signals? There are several decent answers—and none of them suggest an easy time for investors.”
“Home Prices Will Grow Again in 2024, Per Report” (UrbanTurf). “A recent survey of housing experts predicts that home prices will bottom out this year and start rising again in 2024. Zillow's latest Home Price Expectation (ZHPE) survey expects home prices to fall 1.6% through December, before rising again annually in the years ahead.”
“The Perks Workers Want Also Make Them More Productive” (FiveThirtyEight). “Three years after the start of the COVID-19 pandemic, remote and hybrid work are as popular as ever. Only 6 percent of employees able to do their jobs remotely want to return to the office full time, according to a Gallup survey published in August. The vast majority of “remote-capable” workers1 want to spend at least some of their workdays at home. When they’re forced to return to an office, they’re more likely to become burned out and to express intent to leave, according to Gallup.”
“Nikkei 225: A Long-Term Technical Pattern Like No Other In The World” (Knowledge Leaders Capital). “The Nikkei 225 (NKY) peaked in December 1989, and in local currency, has yet to reach the previous peak. But, I look at stocks from the standpoint of a US investor, meaning any foreign asset needs to be translated into USD. Yes, one can hedge foreign currency exposure, but it is difficult, expensive, and actually reduces the diversification benefits of international exposure.”
“Why JPMorgan Is Turning on an Ex-Star” (DealBook). “At JPMorgan Chase, James “Jes” Staley rose through the ranks, leading its asset management and investment banking businesses and becoming a top lieutenant to the banking giant’s chief, Jamie Dimon. But JPMorgan sued Staley on Wednesday, accusing him of failing to fully inform the bank about what he knew about Jeffrey Epstein, the disgraced financier who died in federal custody in 2019 and was a longtime client. If JPMorgan is found liable for providing banking services to Epstein, it wants its former executive to pay up.”
