The energy sector this past quarter has had an M&A party, and these developments have captured the attention of investors and analysts alike. The events of 2022 shook the world and energy markets. The invasion of Ukraine and its political ramifications resulted in severe dislocations in energy markets, thereby ensuring that energy, especially its availability and affordability, remained at the forefront of sociopolitical debate.
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On November 3rd, the extremely publicized trial of Former FTX CEO Sam Bankman-Fried came to an end, as the former Crypto King was found guilty of all seven charges that were brought against him. These charges included two counts of wire fraud, two counts of wire fraud conspiracy, one count of securities fraud, one count of money laundering conspiracy, and one count of commodities fraud.
Read MoreSince November 2022, Sam Bankman-Fried’s fall from grace has been nothing short of spectacular. When Binance, a rival crypto exchange shockingly announced their liquidity crisis, Bankman-Fried and FTX immediately felt the shockwaves. Only a few days later, FTX filed for Chapter 11 bankruptcy and Bankman-Fried stepped down from his role as CEO.
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On Wednesday, September 20, investors eagerly awaited the highly anticipated Federal Open Markets Committee (FOMC) meeting, where Jerome Powell of the Federal Reserve (The Fed), and his team made a pivotal decision to hold interest rates steady, with the current federal funds target rate sitting at 5.25%-5.50%, representing a 22-year high.
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The United Auto Workers (UAW) strike has become a focal point of concern, not only for the automotive industry but also for the broader United States economy. This labor dispute, rooted in the demand for fair wages amid surging inflation rates, has profound implications.
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Within recent years the American housing market has experienced various changes that have made finding an affordable home an increasingly difficult process for current buyers. A major issue plaguing the market for all is scarcity. The number of homes available for purchase is down a staggering 18% from just a year ago.
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U.S. interest rates have hit their highest point since 2007, right before the start of the Great Recession currently sitting at 5.33% (St. Louis FED) and American consumers have been feeling the brunt of it. The spiking cost of everyday goods, record-high mortgage rates, and high fluctuating oil prices have caused the consumer to feel immense financial pain over the past two years.
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Over the last several weeks, we have seen the demand for workers cool, and job creation ease, as the labor market trends have been reverting to pre-pandemic levels. This shift marks yet another turn in the U.S. labor market, which has seen unprecedented volatility in the wake of the COVID-19 pandemic.
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The recent collapse of Silicon Valley Bank, one of the top 20 largest American commercial banks, sent shockwaves throughout the banking industry. Trust in the American banking system was shaken across the board, raising questions regarding who was at fault for the collapse. Majority have directed the blame towards two parties: The Federal Reserve, and the executives at SVB.
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Since the invasion of Ukraine, tensions between Russian and Western powers have been steadily building. In an attempt to evade financial restrictions from the West, Russia has turned to its new alternative currency: the Chinese yuan.
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