Read Sunday ☕️

Last Week’s Headlines

Economy & World News

• China’s Inflation Dips as Stimulus Looms
  China’s consumer prices unexpectedly declined in March while producer prices fell for the 29th straight month—prompting expectations of new stimulus measures to revive domestic consumption.

• China Slashes Hollywood Imports Amid Tariff Tensions
  Beijing plans to cut U.S. film imports in response to Trump’s new tariffs, warning that American movies are losing favor with Chinese audiences—sending Disney, Paramount, and Warner Bros. shares tumbling.

• U.S. Inflation Cools in March
  Headline inflation slowed to 2.4% year-over-year, while core inflation hit a three-year low at 2.8%, offering relief to markets amid hopes for easing price pressures.

• Trump’s Tax Cut Plan Advances After GOP Budget Vote
  The House narrowly approved a Senate-backed budget blueprint paving the way for Trump’s multi-trillion-dollar tax cuts and federal debt expansion, after GOP leaders promised $1.5 trillion in future spending cuts.

• China Privately Admits Role in Cyberattacks on U.S. Infrastructure
  In a rare admission at a December Geneva summit, Chinese officials linked years of cyber intrusions—including the Volt Typhoon campaign—to U.S. support for Taiwan, escalating tensions between the two superpowers.

• Supreme Court Limits Trump’s Deportation Powers
  The Court ruled the U.S. must repatriate a wrongly deported Maryland man, marking a rare rebuke of Trump’s immigration authority and setting limits on executive deportation power without judicial oversight.

• Supreme Court Backs Trump in Federal Workforce Cuts
  The Court blocked a judge’s order to rehire thousands of fired federal workers, marking the latest support for Trump’s push to downsize and reshape the U.S. government.

• India Cuts Rates Again to Cushion Against Global Turmoil
  The Reserve Bank of India lowered its repo rate to 6.00% and shifted to a neutral stance, signaling potential for further cuts as global trade tensions and weak growth weigh on the outlook.

• Trump Pauses Global Tariffs, Hikes China Duties to 125%
  Tariffs on most U.S. trade partners were cut to 10% for 90 days to allow negotiations, while China faces an immediate hike to 125% amid escalating trade tensions and Trump’s criticism of Beijing’s market conduct.

• Strong Demand for U.S. 10-Year Notes Despite Trade Turmoil
  The $39B auction of 10-year Treasuries saw strong demand, with yields pricing below forecasts and record participation from indirect bidders, signaling investor confidence despite trade war-driven bond market volatility.

Public Markets

• Trump Pauses Tariffs After Wall Street Pressure
  After Bill Ackman’s warning of an “economic nuclear winter”, Trump agreed to a 90-day tariff pause, triggering Wall Street’s best day in 16 years and signaling a rare policy win for the markets.

• Spirit Airlines CEO Steps Down Amid Ongoing Struggles
  Ted Christie is exiting as Spirit’s CEO following bankruptcy protection, a failed merger, and mounting losses driven by rising competition and shifting consumer demands.

• Coffee Becomes Currency in Vietnam’s Highlands
  With coffee prices at decade highs, Vietnamese farmers are treating their beans like cash, using harvests to buy vehicles and fund daily needs after last year’s drought-hit crop.

• Trump Trade Moves Rattle Asia’s Markets and Sleep Cycles
  Extreme volatility in Asian equities, bonds, and currencies—driven by Trump’s unpredictable trade policies—has investors trading round the clock as markets brace for more shockwaves when trading resumes Monday.

  

• U.S. Crude Inventories Rise, Imports Drive Build
  Commercial crude stocks climbed 2.6 million barrels last week—above expectations—as net imports increased and production dipped slightly, while gasoline inventories fell in line with seasonal norms.

  

• Oil Prices Slide as Russia Braces for Prolonged Turbulence
  Urals crude nears $50, well below Russia’s budget assumption of $69.70, prompting warnings from the central bank about years of low prices and raising the prospect of OPEC+ revising output plans amid Trump-driven global trade fears.

• Saudi Faces $67B Deficit as Oil Crash Derails Ambitions
  With crude prices plunging to four-year lows, Goldman Sachs projects Saudi Arabia’s budget shortfall could more than double—forcing more borrowing and potential cuts to Crown Prince MBS’s economic transformation plans.

• Amazon Cancels Asia Orders Amid Tariff Fallout
  Amazon halted orders from China and other Asian countries following Trump’s sweeping tariff announcement, signaling a shift to reduce reliance on overseas suppliers and mitigate trade-related risks.

Real Estate & Private Equity

•  Mortgage Rates Hit 7.1%, Highest Since February
  The 30-year fixed rate surged to 7.1%, dampening hopes for a housing rebound as Piper Sandler’s Nancy Lazar bluntly warned: “Forget about housing in this environment.”

• Private Equity Adds Exit Hurdles Amid Market Strain
  As Trump’s tariffs rattle markets, PE firms are slowing secondary sales by requiring new fund commitments—known as staples—in exchange for approving investor exits, frustrating pensions and large LPs seeking liquidity.

• Private Equity Holds the Cash, But Faces Growing Strains
  Buyout firms sit on $1.6T in dry powder, poised to capitalize on market dislocation, yet high debt loads, aging portfolios, and limited exits are stretching resources as pensions and endowments face liquidity pressures amid falling public markets.

• GEM Raises $450M to Back Rising Independent Sponsors
  Global Endowment Management exceeded its $400M target, raising over $450M to support deals led by independent sponsors, as institutional capital shifts away from traditional PE commitments amid growing demand for early-stage dealmakers.

M&A, IPO’s, Bankruptcies

• Prada Revives $1.38B Versace Deal Amid Market Turmoil
  Prada secured final approval to acquire Versace from Capri Holdings, salvaging the deal despite market volatility driven by Trump’s trade war, and positioning the brand for deeper luxury market expansion.

• WeightWatchers Eyes Bankruptcy Amid Ozempic Disruption
  WW International is preparing for a potential Chapter 11 filing as it faces mounting debt and competitive pressure from weight-loss drugs like Ozempic, with restructuring talks ongoing with creditors.

• Isomorphic Labs Aims to 'Solve All Disease' With AI
  Backed by $600 million and led by Demis Hassabis, Isomorphic Labs and DeepMind released AlphaFold3 for non-commercial use, advancing their mission to revolutionize drug discovery with AI.