What we’re reading (4/26)
“3 Recession Indicators Are Flashing Red…Here’s Why You Shouldn’t Panic” (RiskHedge). “Here’s something I bet you didn’t know about recessions. Stocks typically eke out a small gain during recessions. The S&P 500 rose in seven of the past 13 recessions[.]”
“A Major Recession Is Coming, Deutsche Bank Warns” (CNN Business). “Deutsche Bank raised eyebrows earlier this month by becoming the first major bank to forecast a US recession, albeit a ‘mild’ one. Now, it's warning of a deeper downturn caused by the Federal Reserve's quest to knock down stubbornly high inflation. ‘We will get a major recession,’ Deutsche Bank economists wrote in a report to clients on Tuesday.”
“Alphabet Earnings Show Slowing Sales Growth On Digital-Ad Tumult” (Wall Street Journal). “The company said first-quarter sales rose 23% from the year-ago period, the lowest rate for the tech giant since late 2020. In the interim, the company saw a period of massive sales growth, as small and large businesses alike flooded into the ad market seeking to win customers who spent the early period of the pandemic sequestered in their homes. Company sales advanced 41% last year.”
“Credit Funds Lay Low And Even Prosper In A Tough First Quarter” (Institutional Investor). “Fresh off their best year in about a decade, credit funds were mostly flat or barely back in the black in the first quarter. But given the economic environment, things could have been worse.”
“The Age Of The Tyrannical Boss Is Over — And Managers Who Don't Give Employees More Freedom Will Face A Talent Reckoning” (Insider). “Over the past few years, white-collar workers have started to see their job as many blue-collar, hourly workers already do: an economic transaction where they are being paid to do work assigned to them and deliver a product. What they think a lot less about are things like company loyalty and being a member of a white-collar ‘family’ — ideas that benefit management more than workers.”
