☕ Inflation print

Good morning. US inflation is finally showing signs of slowing, with the March print coming in at the lowest rate in about 2 years. It still came in at +5%, so not slow in "normal" years but you might still say nature is (sort of) healing.

Good morning. US inflation is finally showing signs of slowing, with the March print coming in at the lowest rate in about 2 years. It still came in at +5%, so not slow in "normal" years, but nature is (sort of) healing. 

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MARKET MOVERS

*Stock data as of the market close. Commodities and crypto data in USD.

Market news: The data centre play, NextDC popped off after revealing contracted utilisation had grown 43% since the start of the year. The company is back to trading around 52W highs and is just ~$1 off its all-time highs.

THE QUICK SYNC

  • MilkRun Analysis: a poster on FB shared some unit economics. (Facebook)

    • note: you might need to be a member of the FB group to see it

  • US inflation rises 5% from a year ago as Fed rate hikes take hold. (CNBC)

  • Accounting firm EY calls off 'Project Everest' to break up firm. (BBC)

  • Air Jordans sell for record $2.2M as sports memorabilia booms. (Axios)

  • Silicon Valley VCs’ new love affair with Saudi Arabia. (AFR)

  • Theranos’ Elizabeth Holmes loses bid to stay out of prison. (SMH)

  • Citadel’s Ken Griffin gives $300m to Harvard University. (BBG)

TRADING FLOOR

 M&A:

  • Realside and Curated Capital snagged an Adelaide CBD office building at a 27% discount. (AFR)

  • KPMG has set a deadline for EOIs in BWX Digital’s assets and ops. (AFR)

    • BWX is seeking buyers for two e-commerce platforms. (SMH)

  • Authentic Brands will look to expand Boardriders after finalising its deal to buy the parent of Billabong and Quiksilver. (AFR)

  • Twitter merges with Musk's X Corp. (AFR | SMH)

  • TPG's opportunity to buy both InvoCare and Nirvana Asia could justify a higher bid, according to analysts. (The Australian)

  • Quadrant is believed to be selling its Jetts gyms in New Zealand. (The Australian)

  • CPPIB targets Australian deals in infra and real estate. (The Australian)

Capital Markets:

  • Wesfarmers sold its $688m Coles stake via Barrenjoey. (AFR | The Australian)

  • Virgin Australia’s executives are set to speak with fund managers next week. (AFR)

  • WAM Leaders is attempting to raise $100m plus oversubscriptions via a placement. (AFR)

VC:

  • CO-architecture, a Perth designer and architect marketplace, has raised $330k from Skalata Ventures in a pre-Seed round. (StartupDaily)

  • AirTree has sought to assure investors of the soundness of its strategy after the collapse of MilkRun. (AFR)

Others:

  • Amp Energy and Iron Road are the developers of the major green hydrogen project at the Cape Hardy Port Precinct. (AFR)

  • MacCappoaches Credit Suisse’s Dragi Ristevski. (AFR | The Australian)

  • Credit Suisse's Ryan Gillis is joining UBS as the head of cash facilitation. (AFR)

  • Karst Peak Capital’s Hashan De Silva is setting up his own fund. (AFR)

  • BlackRock's Sam Theodore has popped up at Paradice. (AFR)

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THE WATERCOOLER

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