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Swiss Bankers & Russian Jets 💸👨🏻‍✈️

Swiss Bankers & Russian Jets 💸👨🏻‍✈️

+ major clues re: digital dollar

autonomous
March 16, 2023

GM Autonomous friend 🌞

The global concerns re: the banking system continue to dominate the airwaves and dictate market movement.

Here’s what we’re focused on this morning. (3 minute read)

🤾‍♂️🕳️

BIG PICTURE 🌎

US Drone Downed by Russian Jet (Politico)

🧿 This further escalates tension and puts pressure on energy markets.

BANKING CRISIS 🏧

Credit Suisse is going through it. The Swiss National Bank offered to extend Credit Suisse a 50bn+ CHF (Swiss Francs) line of liquidity after $CS stock price tumbled on solvency worries. (RT)

🧿 This is about as exciting as European banks get folks. Brand name, Swiss, trading near death. Grab some pop-corn or buy a sub $2 lotto ticket.

First Republic Bank is exploring strategic options including a sale (BBG)

🧿 Remember, several banks have caved over the past few weeks, not just Silicon Valley Bank. Others include: Signature Bank, Silvergate Bank. Things are breaking…

ENERGY ⛽️

Exxon Mobil is considering selling its majority stake in Italy’s main regasification terminal as part of a strategy to divest from non-core assets (RT)

Warren Buffet buys an additional $467M of shares in Occidental Petroleum, Berkshire Hathaway has invested over 11bn in $OXY over the last 12 months. (BI)

🧿 We like energy too it’s in our 2023 outlook

DIGITAL ASSETS ⚡️

Centralized Exchange Binance halted deposits/withdrawals for UK customers (BBG)

A digital payment system built by the US Federal Reserve, FedNow, will debut in July (CNBC)

🧿 Is this the beginning of Central Bank Digital Currencies (CBDCs)?

TRENDING ✨

OpenAI’s chat-bot just got an upgrade. ChatGPT-4 just dropped. (BBG)

🧿We’re starting to use this thing almost every day for research, search, organization etc. Morgan Stanley and other large firms have announced plans to implement OpenAI’s tech into their employee workflows.

The US gave TikTok an ultimatum. China-based parent company ByteDance must sell TikTok or face a ban. (QZ)