Quick Quote

“"The financial crisis was a wake-up call for the world. It showed us that the global financial system is interconnected and that a crisis in one part of the world can quickly spread to other parts.”

Christine Lagarde, Managing Director of the International Monetary Fund

What Really Matters

Debt-Ceiling Fight Pushes Investors to New Safe Havens: Traders worried about a potential U.S. default have shifted away from U.S. Treasury Bills and into bonds issued by some of America’s top-rated companies. This type of trading has produced a rare event across the debt markets where corporate bonds are now trading as a discount to Treasurys, which are seen as the world’s safest investment.

• Microsoft and Johnson & Johnson are two of the highest-rated U.S. companies in which investors are paying up to hold instead of Treasurys

JPMorgan Banks on Carbon Removal: JPMorgan Chase has agreed to invest $200MM+ to purchase carbon credits from several companies. The purchase is aimed at neutralizing the company’s environmental footprint whole also establishing JPMorgan as a leader in the clean-energy industry.

First Citizens Sues HSBC for Poaching Key Bankers: A plan allegedly named “Project Colony” where dozens of top bankers from the failed Silicon Valley Bank sent an email to First Citizens, announcing their resignation. Immediately after, they were all hired by HSBC, according to a new lawsuit. In response, First Citizens wants $1B+ in damages from HSBC.