Autonomy🪬: Hackers. Tanks. Ceilings?

🌞 Bom Día 🌞

Bankers, tanks and depressed strategists this morning. I don’t care about Netflix or “Wednesday”. Twitter is selling its furniture, and Citi Bank is banned from underwriting municipal bonds in Texas.

Cybersec 🔐

T-Mobile said a hacker stole the data of 37 million customers. The cyber breach occurred in November.

Autonomous Note🪬: 2020 onwards has proven that corporations cannot protect user privacy. We expect cybersec and cyber-insurance to play a greater role in consumer and institutional budgets over the next 5 years. Get yourself a VPN if you don’t have one I use SurfShark.

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Macro 🌐

McConnell offers no-crisis assurance with promise on debt limit.

Autonomous Note🪬: The debt ceiling feels like an annual blame-game about the national budget where both parties end up raising since the US Government has no feasible methodology to fund the current government without free-flowing access to global debt capital markets. Our income taxes cover less than a third of Federal obligations. The US pays its bills with debt.

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Ukraine’s allies met in Germany re: the delivery of more powerful weaponry to Kyiv. This shows just how much the geopolitical landscape has shifted in the past year.

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Google parent Alphabet said it will cut about 12,000 jobs -- more than 6% of its global workforce — becoming the latest tech giant to slash its workforce after years of abundant growth and hiring. The cuts will affect jobs globally and across the entire company, Chief Executive Officer Sundar Pichai told employees in an email on Friday.

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Markets 💹

KKR blocks investor withdrawals from its $1.6B REIT product (RT)

Autonomous Note🪬: It’s not just crypto where you get rug-pulled anymore. The lesson here is that no matter the name or pedigree behind the investment, if the product is opaque or restrictive under pressure, it’s worth inquiring about worst-case-scenarios before making an investment.

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Wall St Strategists are closing their Europe > US market calls with the European equity rally beginning to wane according to strategists, with Goldman and BofA.