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Twitter Stirs the Pot 🍯

Twitter Stirs the Pot 🍯

+ Oil moves markets ⛽️

autonomous
April 03, 2023

GM 🌞

We have oil on the brain ⛽️

OPEC decided to cut oil production by 500,000 barrels per day in order to buoy dropping oil prices.

The unexpected shock to the global oil market sent prices soaring as much as 8% on the open market but also highlights the tension between global economies and oil producers as the global economy fights inflation and potential recessions.

The sudden production cut hints at OPEC looking for more cash but worried about global demand.

Aside from oil shock and awe, here’s what’s crossed our desk this morning:

Let’s drop in 🪂 💨

Trends ✨

Musk is eying Twitter digital banking in pursuit of $250B vision
Big tech has been eyeing banking for a while. Meta tried to launch a cryptocurrency and failed (twice). Now Twitter is eyeing the money game. At least Elon has experience building money platforms (PayPal).

White House will not pay for Twitter verification

The New York Times lost its Twitter verified badge. The publication is one of the first accounts to see its golden tick removed as CEO Elon Musk attempts to boost Twitter Blue subscriptions.

Economy 📊

US consumer spending rose 0.2% in February
The US consumer remains resilient continuing to spend but savings remain deflated compared to recent years.

Global deal making sank to lowest level in over a decade in Q1
Not good news for big (investment) banks who rely on deal-flow and don’t have wealth management arms to weather the storm.

Eurozone inflation dropped to 6.9% in March to a one-year low
Inflation is cooling but slower than expected by most global investors.

Macro HFs dropped 3.2% in March, down 2.7% YTD
Macro Hedge-Funds try to predict big-slow changes in economies and geopolitics.