Past newsletters

☕ Inflation surprise

☕ Inflation surprise

Good morning. Everyone’s now eyeing another rate rise after yesterday’s surprise inflation print. Inflation came in at 6.5% for April — vs. 6.9% in March — with the RBA ready, willing and able to increase rates further to help slow inflation with further rate rises.

☕ Qantas upgrade

☕ Qantas upgrade

Good morning. If you’re tired of reading about this PwC tax leak, we’ve done you a favour and only linked to just one extra article today vs the usual 3 to 4.

☕ No lead

☕ No lead

Good morning. It was Memorial Day in the US overnight, so there’s no strong lead for the Aussie markets to follow today. The US markets are yet to react to the debt deal, which will see the ceiling suspended until 2025.

☕ Debt deal

☕ Debt deal

Good morning. The US is close to finalising a deal to raise the debt ceiling, which could be voted on by the House as soon as Wednesday. This should juice the markets on open.

☕ Big chips

☕ Big chips

Good morning. Shout out to Nvidia shareholders who would have been part of their record-breaking share price jump — with the company registering the biggest single market cap gain of any company before. The AI-chipmaker blew up (positively) and added US$200bn to its market cap after guiding to US$11bn of sales this quarter vs the US$7bn the market estimated.

☕ Cops called on PwC

☕ Cops called on PwC

Good morning. Inflation in the UK fell far less than expected, which led markets to predict further rate rises and, thereby, a selloff in bonds. Inflation was expected to be 8.2% but clocked in at 8.7%.

☕ Staredown

☕ Staredown

Good morning. Jeff Bezos, the bald billionaire book baron, apparently got down on one knee over the weekend to propose to his girlfriend. But more interestingly, he did it on his US$500m superyacht that costs US$25m a year to maintain — more on the boat here.

☕ IB acquisition

☕ IB acquisition

Good morning. Greenhill revealed overnight that it's being acquired by a Japanese bank, Mizhuo. The elite boutique, which has about 40 folks in Australia, agreed to a US$550m deal which is more than double where it was trading last week. More below.

☕ Succession countdown

☕ Succession countdown

Good morning. For Succession fans, just a couple of eps to go. Who do we think ends up running Waystar as the CEO? LOI poll here. On the tipping front... @How's the Serenity is making a calm and measured move through the pack — now sitting in second and just one behind @Tim Cudlipp.

☕ MaaS

☕ MaaS

Good morning. So ChatGPT just released their iPhone app in the App Store to help you look smarter. The bad news? It's limited to the US for now. So to our 3 or 4 US-based readers, enjoy!

☕ Debt ceiling

☕ Debt ceiling

Good morning. Folks are getting amped that a deal on the debt ceiling in the US is looking good and may be done by the end of the week. As a result, the US indices had a bit of a midday surge and closed up around 1.2% overnight.

☕ Big Short

☕ Big Short

Good morning. Fintwit loves to have a moment every quarter when Michael Burry's (aka the Big Short guy) stock holdings are revealed in SEC filings. You can see it here, but you might say the long and the short(?) of it is he's doubled down on China tech — Alibaba and JD.com make up 20% of his portfolio — and he's taken a contrarian bet on smaller US banks.