Exec Sum

Covid-era job switchers are less satisfied now, the closing of Trump Media’s auditor may cause IPO delays, US wants to ban certain event derivatives, Fed’s Logan thinks monetary policy is not tight enough, and quant fund legend Jim Simons passed way…RIP to the best to ever do it.

BP wants a piece of Tesla superchargers, OpenAI is set to announce a Google search competitor, Bridgewater’s new CEO has ‘rewired’ the hedge fund, Goldman is making the most of Japan’s market rally, and lenders are seeing a bottom for consumers.

Investors are loving Indian healthcare PE and junk bonds, Texas electricity markets are out of control, Sweden became the second rich nation to cut rates, BNPL is generating billions in unaccounted-for debt, and over 85% of the best Covid-era stocks are down since Covid.

All-stock M&A is at a multi-decade high, quant firms are breaking into fixed-income markets, Goldman expects buybacks to fuel a stock rally, Wall Street bonuses are expected to rise, and Gen Z is brewing an unhealthy relationship with credit cards.

US wants to tie finance exec pay to risk, PE is vying to get in on low-risk lending, Credit Suisse’s final CEO will depart UBS, banks are seeing lower loan demand, active managers are losing out to index trackers, and MrBeast split from his talent agent.

Lenders sued 777 Partners for fraud, VC deal flow is still stagnant, the job market is rapidly cooling, Taiwan’s ETF frenzy is raising eyebrows, SEC shut down Trump Media’s auditor, and retail investors are hungry for triple-leveraged ETFs…classic.

A fired SocGen trader is beefing on LinkedIn, hedge fund Segantii was criminally charged, high yield spreads are still tight, Goldman UK scrapped bonus caps, Tesla rescinded summer intern offers, and blacklisted Huawei is secretly funding US research.

Another Boeing whistleblower died, Australian business is booming, KKR sees PE deal flow recovering, chip stocks slumped on disappointing earnings, and Bitcoin had its worst month since FTX’s collapse.

PE is largely absent from recent IPOs, eurozone exited a recession, Dave & Buster’s will allow customers to bet on arcade games, Binance’s founder was sentenced to four months, and multi-strat HF Weiss filed for bankruptcy.

HSBC’s CEO unexpectedly resigned, PE firms are halting stake sales amid boycotts, US is cracking down on PE ownership of homes, energy and mining M&A is ripe for a boom, Tesla short-sellers got crushed, and Apollo was accused of a massive insurance fraud.

An ex-McKinsey partner sued the firm for being scapegoated, big asset managers are resorting to ‘vulture’ tactics, Elliott built a stake in one of Buffett’s investments, and regulators seized and sold Republic First Bank…yes, exactly one year after First Republic Bank.

Markets took a hit on weak economic data, Bill Gross said to avoid tech, S&P cut Boeing’s outlook to negative, US white-collar job growth has stalled, PwC named a new UK senior partner, and US birth rates fell to its lowest ever.