Between the lines

news from the global market graph

Todd Moses
March 28, 2024

News from the global market graph

March 28, 2024

What it is: According to Yahoo! Finance, consumer confidence is down, and Business Insider explains that the stock market looks "bizarrely" overvalued.
Why it matters: The Buffett Indicator is pointing toward a bubble.
How it impacts you: The current trend should continue until mid-April.
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What it is: Dutch prosecutors seek 64-month jail sentence for Tornado Cash developer Alexey Pertsev.
Why it matters: The developer was first jailed in the Netherlands in August 2022, shortly after the U.S. Treasury blacklisted the Tornado Cash platform due to certain users laundering money on the app.
How it impacts you: Those building open-source projects may be held liable for the actions of users.
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What it is: With oil prices rising, market analyst John Kemp reports that traders have been buying oil at the fastest rate since 2020.
Why it matters: Russia's government has ordered companies to reduce oil output in the second quarter.
How it impacts you: ICICI Bank believes an upside possibility of $90/bbl to $95/bbl will emerge soon.
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What it is: Connecticut wants to penalize insurers for backing fossil fuel projects.
Why it matters: The assessment would apply not only to new pipelines and fuel terminals, which require ample insurance to attract lenders and investors but also to current coverage for existing infrastructure.
How it impacts you: Property and casualty insurance premiums will increase in 2024 as severe weather, global uncertainty, and state-imposed restrictions are placed on insurers.
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What it is: Due to the National Association of Realtors (NAR) lawsuit, the seller's agent will no longer be required to compensate the buyer's side. Instead, the buyer's agent must contact the seller to determine if the seller will pay the buyer's agent's commission.
Why it matters: In many instances, this new law will make the buyer pay their agent out of pocket.
How it impacts you: In the short term, the buyer's agent commission could be another negotiating tool for cash-heavy buyers to beat out less prepared competitors. For a longer horizon, there is an opportunity to disrupt the real estate industry with a new agent model.
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What it is: The Environmental Protection Agency (EPA) announced it is finalizing the strictest tailpipe emission standards ever.
Why it matters: Oilprice.com reports that "the new standards would make all gasoline and diesel-powered light vehicles illegal in less than 10 years."
Yes, but: The Wall Street Journal reports that the revised standard would require a massive increase in EV sales, at 31% and 40% for model year 2030.
How it impacts you: Chinese electric vehicle maker BYD stepped into the global spotlight after it became the world's biggest EV seller late last year, overtaking Tesla (TSLA.O).
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Read the latest from the global economic graph on Banananomics.