Bloomberg

A terrible massacre! The cipher currency plummeted over the weekend.

The frenzy of the cryptocurrency reached its climax when Coinbase, the first share of the cryptocurrency exchange, went public last week. Bitcoin fell the most over the weekend since February.

In hindsight, a crash was inevitable and the market was too excited about the direct listing of Coinbase. Dog coins, for example, have soared, and all signs are that the market is too one-way.

-Michael Novogratz, founder of Galaxy Digital

At present, some speculation in the market is thatThe collapse of the currency circle is related to the possibility that the US Treasury Department may crack down on money laundering through encrypted currencies.The US Treasury declined to comment, and its Financial Crime Enforcement Network (FinCEN) responded by email on Sunday that it "does not comment on potential or whether there is an investigation".

Is autopilot abused? Tesla got into trouble again.

A Tesla with autopilot function crashed in Texas late Saturday, killing two passengers, according to the local government.

Harris County Sheriff Mark Herman said in a telephone interview that one victim was found in the passenger seat of Model S in 2019 and the other in the back seat with no one in the lead seat.

Federal officials criticized Tesla's battery pack for the risk of fire and did not do enough to prevent drivers from improperly using its autopilot aids. At a hearing last year, the chairman of the National Transportation Safety Board said"it's time to wake up low-level self-driving users who don't own self-driving cars. "

Wall Street Journal

The repair of the US economy is accelerating, and the labor shortage may become a bottleneck.

With vaccination, the epidemic has been brought under control, and consumer spending has begun to take off. Wall Street Journal economists expect US GDP to grow by 6.4 per cent from the fourth quarter of last year to the same period this year.

In addition, economists expect to add 7.1 million jobs this year, but job growth will lag behind GDP because of reduced labor supply and employers' concerns about the epidemic.

Jerome Powell, chairman of the Federal Reserve, said at a news conference last month:"A lot of people need to rejoin the workforce, and that's not going to happen overnight. "In the short term, employers will face problems such as rising wages and labor shortages. As a result, economic recovery may encounter bottlenecks.

WeWork seeks SPAC listing, optimistic performance expectations attract regulatory attention

As one of the most high-profile companies in IPO in recent years, WeWork will seek to list SPAC this time. Because SPAC has looser rules than IPO, WeWork will have more room to promote its future growth and profitability. In a conference call with investors, the chairman of BowX called WeWork a company with $5 billion in revenue.

In his roadshowThe company described it as having "huge growth opportunities", "more than 850 locations", more than a million studios, more than 450000 members, and shocking expected growth rates, attracting regulatory attention.

WeWork has long been criticized by regulators. It was criticized by SEC before its initial public offering, and WeWork seems to be doing something similar this time for turning a loss-making business into a seemingly profitable display. SEC said it will continue to pay attention to WeWork listing documents and other behaviors.

CNBC

Us stocks rose strongly, and Wall Street bulls predicted that the stock market would rise by another 8%.

Optimism about the economic outlook further boosted the U. S. stock market, with the Dow reaching a milestone of 34000 last week and the S & P 500 hitting a new closing high for the 22nd time of the year. Phil Orlando, chief stock market strategist at Federated Hermes, one of the biggest bulls on Wall Street, said the rally in U. S. stocks remained strong.

At the current pace of economic growth and income growth, the stock market may rise faster than I predicted. The s & p 500 is likely to reach 4p 500 in July, up 8% from its current level.

-Phil Orlando, chief stock market strategist at Federated Hermes

Last week, Federated Hermes raised its forecast for u.s. GDP growth this year to 6.4%, citing the positive impact of Biden's $1.9 trillion epidemic assistance program.

UBS raises its market forecast for this year and expects the S & P 500 to rise by another 5%.

U.S. stock index futures fell overnight on Sunday after the S & P 500 and Dow closed at record highs on Friday. UBS raised its forecast for this year on Friday.The company now expects the S & P 500 to reach 4400 by the end of 2021Which is about 5% higher than Friday's closing price.

Although for some investors, the price of investment at this time is too high and may be daunting, we think there is more room to rise. After two rounds of stimulus packages and ongoing vaccinations this quarter, there is growing evidence that US economic activity is accelerating. The latest employment data, business confidence index and retail sales all show a strong recovery.

-UBS

Financial Times

There are plenty of bullets in the economic recovery, with global consumers accumulating 5.4 trillion dollars in excess savings

Since the outbreak, consumers around the world have accumulated excess savings of $5.4 trillion and become increasingly confident about the economic outlook, paving the way for economic recovery.

Moody's, the credit rating agency, estimates that by the end of the first quarter of this year, households around the world had accumulated excess savings equivalent to more than 6 per cent of global GDP. In the first quarter of this year, the World Federation of Big Business's global consumer confidence index reached its highest level since a record in 2005, with significant growth around the world.

Mark Zandi, chief economist at Moody's Analytics, said:As countries gradually open up, a large combination of pent-up demand and excessive savings will drive a surge in global consumer spending. "Moody's estimates that if consumers spend 1/3 of their excess savings, global output will increase by more than 2 percentage points this year and next.

A big turnaround for hedge funds? The best performance since the financial crisis in the first quarter.

Despite the short selling of GameStop and the explosion of Bill Huang funds this year, hedge funds posted their best performance since the start of the global financial crisis in the first quarter.

Hedge funds returned less than 1% last month, but 4.8% in the first three months of this year, the best first quarter since 2006, according to data platform Eurekahedge. Meanwhile, hedge funds earned 6.1% in the first three months of this year, the best first quarter since 2000, according to the latest data from Hedge Fund Research.

This estimate is also in sharp contrast to the first quarter of last year. Hedge funds have profited from a rebound in "value" equities and credit markets, which has also helped hedge funds record their best year since 2009.

Aaron Smith, founder of hedge fund Pecora Capital, said:"over the past decade, the buy index has been the best strategy. But at present, we have entered a new trading environment, which will be more conducive to the active trading strategy. "Pecora Capital's Liquid Equity Alpha strategy has earned about 10.8 per cent this year.

Hot spots of the week

Today's focus: Coca-Cola, IBM results

The above is the headline breakfast of today's foreign media. We sincerely invite you to enjoy it and enjoy your investment.