What we’re reading (8/3)
“A Hawkish Bullard Sees More Volatile Economic ‘Regime’ Emerging In U.S.” (Reuters). “The coronavirus pandemic may have pushed the United States into a volatile era of stronger growth and better productivity, but higher interest rates and faster inflation as well, St. Louis Federal Reserve president James Bullard said, elaborating on why he thinks the U.S. central bank should end its crisis-era policies.”
“Apartment Rents Increase As Young Workers Head Back To Cities” (Wall Street Journal). “Apartment rents are rising fast, boosted by young professionals returning to cities and an expensive housing market that keeps many of them renting. Stock prices of publicly traded apartment companies have jumped in stride. The FTSE Nareit Equity Apartments index, which tracks these landlords, is up 42% since January, trouncing the S&P 500’s 17% gain during the same period.”
“PepsiCo To Sell Tropicana And Other Juice Brands For $3.3 Billion” (CNBC). “PepsiCo announced Tuesday it has agreed to sell Tropicana, Naked and other North American juice brands to a French private equity firm. The deal with PAI Partners will net pretax cash proceeds of $3.3 billion for Pepsi. The food and beverage giant will also receive a 39% stake in a newly formed joint venture with PAI and the exclusive U.S. distribution rights for the juice brands for certain channels, like food service.”
“Hedge Funds Are Taking On Venture Capitalists In The Battle To Back The Best Startups. Investors At Funds Like Two Sigma And Point72 Reveal Their Strategies To Stay Ahead.” (Business Insider). “Hedge funds, long considered the world's best public market investors, have been losing their edge. Quants are squeezing out inefficiencies while funds struggle to justify their cost. In turn, these managers have turned to the murkier private markets to boost returns. Like in the public markets, strategies run the gambit.”
“Inside The Epic Infrastructure Bill” (DealBook). “The bipartisan infrastructure plan, drafted during a marathon weekend session in the Senate, may go to a vote in the chamber this week. It is just over 2,700 pages long, with allocations for everything from broadband and bridges to ports and pedestrian crossings, plus proposals for how to pay for it all.”
