Wealth Management News & Insights
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Financial Markets
- US Housing Prices Fall for First Time Since 2012: Say goodbye to the housing bull run. US home prices — for the first time in a decade — are falling. [Bloomberg]
- Bank of England Launches £65bn Move to Calm Markets: Central bank to spend £5bn a day for 13 days over ‘material risk to UK financial stability’ and threat to pensions. [FT]
- Pound’s Swoon Echoes Declines in British Power, Past and Present: The Bank of England had to step in Wednesday after markets deemed a new government economic plan unwise, but the pound has been on a longer slide. [NYT]
- The Reason the BoE is Buying Long Gilts: an LDI Blow-Up: Pension plans appear to have been caught in doom-loop of margin calls on interest rate derivatives that forced them into dumping longer-maturity UK gilts, and spurred the Bank of England into intervening today. [FT]
- Porsche Shares Rise Above IPO Price in Debut: Start of trading contrasts with an otherwise downbeat global market for initial public offerings. [WSJ]
- NASA May Let Billionaire Astronaut and SpaceX Lift Hubble Telescope: Jared Isaacman, who traveled to orbit on the Inspiration4 mission, is pursuing a private space program in collaboration with Elon Musk’s rocket company. [NYT]
- ‘SPAC King’ Chamath Palihapitiya Closing Two SPACs After Failing to Find Deals: Venture capitalist says it is a ‘precarious moment’ in markets after looking at more than 100 companies to take public with two SPACs and not finding a deal. [WSJ]
- The Path of Rate Increases May Indeed Lead to a Recession: Harvard Law Professor Daniel Tarullo says the Fed hopes to convince markets — and the public — that it will fight inflation, even if there are costs. [Harvard Law]
Financial Planning
- The Dollar Is Strong. That Is Good for the U.S. but Bad for the World: The Federal Reserve may have no choice but to wage a relentless inflation fight, but countries rich and poor are feeling the pain of plunging currencies. [NYT]
- Only About 30% of Millennials are Comfortable Investing in Crypto, Down From About 50% in 2021: Initially, many young investors’ interest in crypto was due to the “lottery-ticket atmosphere” where it appeared you could make a lot of money quickly. [CNBC]
Tax Planning
- Year-End Tax Moves That Investors Should Consider: Among the questions to ask yourself: Is it time to dump some money-losing investments? And what about charitable contributions? [WSJ]
Business Strategy
- The Dreaded Performance Review Makes a Comeback: Many companies suspended reviews during Covid. Now they are paying renewed attention to worker performance—much to the chagrin of some employees. [WSJ]
- If Your Quiet Quitting Is Going Well, You Might Be Getting ‘Quiet Fired’: Workers who coast risk being written off—and eventually laid off—by bosses with ‘productivity paranoia’. [WSJ]
Life & Work
- Stay Up to Date on Hurricane Ian: Look through NOAA’s National Weather Service for the most accurate information on Ian to keep you safe and informed. [NOAA]
- Alzheimer’s Drug Slows Disease Progression in Trial: Eisai Co. and Biogen Inc. said their experimental Alzheimer’s disease drug significantly slowed progression of the memory-robbing disease in a large study. [WSJ]
- How the Chicago Bears Can Make the Playoffs: The Chicago Bears (2-1) beat the Houston Texans on Sunday, increasing their chances of making the playoffs to 38 percent from 33 percent. [NYT]
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