Breaking Up, for Alibaba and a Playlist. Plus, CRE
Small banks carry the worst risk for commercial real estate, Jack Ma may be finding new footing, and our answer to Ted Lasso’s hit mix.
Jack’s back? A sighting in China precedes the breakup of Alibaba into six offspring.
Photographer: Qilai Shen/Bloomberg (file photo)
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This month, US capital markets sustained one of their biggest shocks in memory. The hit to bank stocks and the rush into bonds were both fully comparable in their severity to anything outside the Global Financial Crisis of 2008. With banks in upheaval, predictions for monetary policy turned through 180 degrees. Suddenly, investors assumed that rate cuts were coming imminently to deal with an incipient recession.