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16th April 2022
under60.substack.com

16th April 2022

Musk gonna Musk.

Under60
Apr 16
Share this post
16th April 2022
under60.substack.com

Hey folks, welcome to this Saturday’s rundown of what happened over the week.

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[Inflation] This year’s hawkish change in tack from central banks is close to ending the era of negative-yielding debt, shrinking the global tally of bonds with sub-zero yields by $11tn. Bonds worth $2.7tn currently trade at a yield of less than zero, the lowest figure since 2015, and a sharp plunge from more than $14tn in mid-December.

Over60: FT

[M&A] Elon Musk made a $43 billion offer to buy Twitter. However, Twitter’s Board responded to the hostile offer by implementing a poison pill. Under the new structure, if any person or group acquires beneficial ownership of at least 15% of Twitter’s outstanding common stock without the board’s approval, other shareholders will be allowed to purchase additional shares at a discount.

Over60: CNBC

[M&A] Asset manager Investcorp is in exclusive talks to acquire Italian football club AC Milan from US hedge fund Elliott Management in a deal that could value the Serie A team at more than €1bn. A sale above €1bn would mark a huge win for Elliott, which took control of AC Milan in 2018 at a fraction of that value after the club’s previous Chinese owner failed to pay back debt to the hedge fund’s credit arm that it used to buy the club a year earlier.

Over60: FT

[Economy] China’s central bank has reduced the amount of reserves that banks must maintain in an attempt to boost the economy. However, it chose not to cut a key interest rate; Chinese policymakers are concerned that easing too aggressively could exacerbate capital outflows as the US raises rates to combat inflation.

Over60: FT


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16th April 2022
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