What we’re reading (7/14)
“It’s Been A Good Stretch For The Markets, But Not As Good As It Looks” (New York Times). “Stock and bond investors in mutual funds and E.T.F.s. had positive returns on average for the second quarter, which ended on June 30, as well as the first quarter, which ended on March 31. Yet the average 12-month returns for stocks and bonds shifted radically from quarter to quarter, mainly because of what happened in 2022, not this year.”
“Yes, A Recession Is Still A Possibility” (Manhattan Institute). “Predictions of a ‘soft landing’ seem both premature and hard to square with some of the data.”
“Bank Results Reveal Stark Divide As Industry Recovers From Turmoil” (Yahoo! Finance). “JPMorgan and Wells Fargo showed that some giants can continue to make lots of money from consumer loans even as industry deposit costs rise while leaning on their sprawling franchises to generate additional revenue. What Citigroup revealed is that a number of problems continue to plague even the biggest institutions, especially those that rely heavily on dealmaking and trading.”
“Zuckerberg Channeled ‘OG Mark’ To Fast-Track Secret Effort That Became Threads” (Wall Street Journal). “The outward triumphalism mirrors Zuckerberg’s attitude behind the scenes, people familiar with the matter said. He has become more emboldened, acting intentionally and doing so in a cutthroat manner akin to that of his early years running Facebook, or as some have described it, a return to ‘OG Mark.’”
“The Barbie Merch Explosion Is ‘Heaven’ For Collectors Of The Iconic Doll” (Washington Post). “‘This film is like Jesus coming to Earth or something, the Second Coming,’ said Simon Farnworth, a 53-year-old Barbie collector from outside London who sells new and vintage dolls on his website, Simon’s Collectibles. ‘It’s the most exciting thing to ever happen to a Barbie collector, I think.’”
