What You Need To Know This Week — September 7th, 2019
What You Need To Know This Week
A weekly recap to keep you informed on the most important events this week impacting markets, business, tech and the global economy.
CANADA NOTCHES BEST QUARTERLY ECONOMIC GROWTH SINCE 2017
Canada’s economy surged in in the second quarter, as exports drove GDP growth to 3.7% annualized. The Q2 GDP print came ahead of the Bank of Canada’s 2.3% forecast and was the best quarterly economic performance since 2017. The strong growth figure caused economists to push back their rate cut predictions for the country’s central bank.
BREXIT DRAMA REACHES COMEDIC LEVELS AS PM BORIS JOHNSON FACES DEFEAT
British Prime Minister Boris Johnson faced a humiliating week as MPs backed legislation that would block Johnson’s Brexit plan in addition to stopping his attempt to call an election to push forward Britain’s exit from the EU. The British pound bounced 1.4% on the news.
INVESTORS BALK AT WEWORK’S IPO AS IT’S FORCED TO SLASH ITS VALUATION
Co-working company WeWork’s initial public offering remains a tough sell with investors and it is considering slashing its valuation from $47 billion to $20 billion in order to overcome rampant investor skepticism.
NBA CONSIDERS CREATING AN INVESTMENT FUND TO HOLD STAKES IN PRO BASKETBALL TEAMS
The National Basketball Associated is seeking to create an investment fund that would buy minority stakes in individual teams, creating access to NBA franchise ownership for more investors in order to capitalize on soaring values for professional sports teams.
Recommended Articles, Podcasts, Books and Tweets
Listen to Chris Meredith, Co-CIO of O’Shaughnessy Asset Management, on why value investing has been doing terribly on the Bloomberg Odd Lots podcast.
Why the democratization of alternative investments needs to Accelerate.
The Institute for Supply Management (ISM) said its index U.S factory activity dropped to 49.1 in August, indicating the first contraction of U.S. manufacturing since 2016.
Investors need to be aware of the artificially smoothed returns of private market investments.
Ultra-long bonds, those with tenors of 50 or 100 years, are catching on with investors as governments try to lock-in low long-term interest rates.
Distressed debt investors are circling Argentine bonds, looking for prices of 30–35 cents on the dollar to start buying.
Investor SoftBank is down over $600 billion on its Uber investment as the shares hit an all-time low.
Large U.S. corporations are selling 30-year bonds with yields below 3%, a first for the debt market.
Li Ka-Shing’s CK Infrastructure was the mystery bidder behind the unsolicited $12.4 billion offer for Inter Pipeline.
