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Greg Mckenna

Greg Mckenna

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The China trade war will pummel America’s small businesses, Apollo economist says

Shipping between the world’s two largest economies has nosedived since mid-April.

yesterday 1

Fortune

Greg Mckenna

Investment bankers have ‘work-from-beach’ dreams crushed after Citi shutters its Málaga office

Economic headwinds may force junior employees to prioritize job security over work-life balance.

yesterday 8

Fortune

Greg Mckenna

Elon Musk says Tesla will have ‘thousands’ of Optimus robots by year’s end, but China slapping controls on rare earths is hobbling production

President Donald Trump’s punitive tariffs provoked Beijing into demonstrating one of its key points of leverage.

23.04.2025 5

Fortune

Greg Mckenna

Trump says he now wants daylight saving time to be permanent. The president of Save Standard Time thinks the ‘MAHA’ movement can help push back

Advocates of standard time say it’s better for peoples’ circadian rhythms, or “biological clocks.”

23.04.2025 9

Fortune

Greg Mckenna

Even fellow critics of the Federal Reserve want Trump to back off Powell as stocks and the dollar both slide

When politics interferes with the central bank’s ability to set monetary policy, inflation tends to be the result.

21.04.2025 3

Fortune

Greg Mckenna

Hedge funds are the new ‘shadow banks’—and some are worried they pose a systemic threat to financial stability

The $800 billion ‘basis trade’ underlines how risky bets help keep the financial system humming.

20.04.2025 10

Fortune

Greg Mckenna

Warren Buffett and Jamie Dimon want billionaires to pay their fair share to Uncle Sam. But a ‘millionaires tax’ would likely affect all the wrong people

America’s wealthiest individuals earn much more from capital gains and dividends than wages or salaries.

19.04.2025 40

Fortune

Greg Mckenna

Jerome Powell insists the Fed’s independence is enshrined in law. The Supreme Court might change that

Markets would likely be very spooked if the president could choose to influence monetary policy.

18.04.2025 3

Fortune

Greg Mckenna

Jamie Dimon argues JPMorgan can help fix the bond chaos if regulators get on board — ‘It’s not relief to the banks, it’s relief to the markets’

The Treasury market helps the global economy go-round, and Wall Street is watching closely for signs the Fed may need to intervene.

12.04.2025 7

Fortune

Greg Mckenna

Inside the bond market’s $800 billion ‘murder mystery.’ Here’s why the basis trade could be a time bomb—and what the Fed can do to stop it

One of Trump’s head economists said the spike in yields added “urgency” to the decision to pause the president’s reciprocal tariffs.

11.04.2025 20

Fortune

Greg Mckenna

Treasury Secretary Scott Bessent denies bond market panic pushed Trump into backing down on tariffs

Hedge funds typically profit handsomely from the $1 trillion ‘basis trade,’ but the Federal Reserve could be forced to step in as yields surge.

09.04.2025 2

Fortune

Greg Mckenna

Treasuries typically provide safe haven, but bond yields are spiking again as investors debate the Fed’s next move

Trump’s tariffs initially had investors piling into bonds before this week’s selloff.

09.04.2025 9

Fortune

Greg Mckenna

Stocks closed mixed in most volatile session since the pandemic as Wall Street is ‘starting to find a bottom’

Heightened volatility might have paradoxically helped share prices stabilize after last week’s historic sell-off.

08.04.2025 10

Fortune

Greg Mckenna

Stocks set to post worst quarter in 3 years as investors wait in fear for ‘Liberation Day’

Trump wants tariffs to pay for tax cuts, but investors have received few updates on the latter.

31.03.2025 3

Fortune

Greg Mckenna

Markets may be past peak tariff uncertainty, even as investors weigh new tax on auto imports and brace for ‘Liberation Day’

The “American exceptionalism” trade might not be dead yet, fund managers told Fortune.

28.03.2025 7

Fortune

Greg Mckenna

Markets gave up on the ‘Trump put,’ but Bank of America says it’s alive and well

Treasury Secretary Scott Bessent has rejected suggestions the president will reorient his policies to support equity prices.

27.03.2025 20

Fortune

Greg Mckenna

Why lowering the yield on 10-year bonds is more important to Trump than the stock market or interest rates

Roughly six in 10 U.S. adults report owning stock, but nearly 80% of American households have some type of debt.

27.03.2025 9

Fortune

Greg Mckenna

JD Vance says the Suez Canal only matters for European trade. He was both correct and mistaken at the same time, a top strategist says

Attacks on tankers or, worse, a wider conflict in the Arabian Peninsula, could spur stagflation.

26.03.2025 40

Fortune

Greg Mckenna

Tesla has $1.4 billion that seems to have gone astray, potentially raising questions about the company’s controls

Accounting experts say there are plausible explanations for the discrepancy as Elon Musk tries to rally the EV giant.

23.03.2025 40

Fortune

Greg Mckenna

Markets get respite from ‘Trumpcession’ fears as Federal Reserve keeps two interest rate cuts on the table

Stocks have tumbled amid President Donald Trump’s on-again, off-again tariff threats and global uncertainty.

20.03.2025 9

Fortune

Greg Mckenna

Gold prices are smashing record highs but it’s still a risky bet — ‘You’re not sending gold to buy your Domino’s pizza,’ finance expert warns

Americans are increasingly pessimistic about the economy and expect inflation to rise, the Michigan consumer sentiment survey revealed.

15.03.2025 9

Fortune

Greg Mckenna

Trump’s chief economist has a blueprint to force countries to pay for tariffs without reigniting inflation, but he says the path to success is narrow

Stephen Miran’s vision largely depends on the dollar strengthening relative to foreign currencies.

13.03.2025 9

Fortune

Greg Mckenna

Business leaders urge a long view over tariff turmoil—but consumers and companies are spooked

One big worry is that businesses will decide to delay investment as the saga continues.

12.03.2025 9

Fortune

Greg Mckenna

Trump’s tariff threats caused the VIX to surge. Is it a momentary spike or the start of a global contagion?

The index has shot up dramatically on several occasions recently, only to then retrace rapidly.

12.03.2025 10

Fortune

Greg Mckenna

Goldman Sachs’ chief economist just downgraded the entire U.S. economy as Trump’s latest tariff salvo rattles markets

The storied investment bank has forecast GDP growth to come in below Wall Street’s consensus for the first time in 2½ years.

11.03.2025 3

Fortune

Greg Mckenna

Stock market implodes as Trump tariffs and recession nightmares spook investors

The president and his economic officials have indicated they are willing to endure short-term pain to reshape America’s economy.

11.03.2025 6

Fortune

Greg Mckenna

The bond market is pricing in a Trump recession as investors protect their portfolios

Yields fell sharply Monday as the new administration’s on-again, off-again tariff threats dent confidence.

11.03.2025 4

Fortune

Greg Mckenna

A bond sell-off that began in Germany is causing borrowing costs to spike around the world

A $1.3 trillion German spending deal and commentary from the European Central Bank has also prompted yields to surge in the U.S. and elsewhere.

06.03.2025 4

Fortune

Greg Mckenna

The architect of Trump’s first tax cuts says the plan to scoop out overtime pay and Social Security from taxes is ‘very expensive’ but tips are feasible

The Goldman Sachs alum did not endorse all the new administration’s policies.

06.03.2025 10

Fortune

Greg Mckenna

Elon Musk is ‘the inventor of our age’ and won’t be distracted by DOGE, Tesla bull Cathie Wood says

Ark Invest’s flagship product has lagged well behind the S&P 500 in recent years, and shares of the EV maker have plunged 28% this year.

06.03.2025 4

Fortune

Greg Mckenna

Elon Musk is ‘the investor of our age’ and won’t be distracted by DOGE, Tesla bull Cathie Wood says

Ark Invest’s flagship product has lagged well behind the S&P 500 in recent years, and shares of the EV maker have plunged 28% this year.

05.03.2025 7

Fortune

Greg Mckenna

Tariffs, layoffs, and immigration — the triple threat to economic growth that has Wall Street worrying about the U.S. economy

Tariff fears and soft economic data have traders debating whether a recession is on the horizon.

03.03.2025 3

Fortune

Greg Mckenna

Donald Trump is getting the lower yields he wanted—because investors fear America’s growth is slowing

Stocks dipped this week as investors grappled with softer economic data and renewed tariff threats.

28.02.2025 6

Fortune

Greg Mckenna

A former JPMorgan employee has accused the bank of obscuring the true size of its trading business to evade capital requirements

JPMorgan was accused of evading capital requirements created to prevent another financial crisis—a claim the bank denies. Is the Fed looking the...

28.02.2025 8

Fortune

Greg Mckenna

Trump has a path to killing the Fed’s independence. How this unofficial norm came to exist

The Supreme Court could overturn precedent that protects chair Jerome Powell from being fired.

27.02.2025 10

Fortune

Greg Mckenna

Jensen Huang hails DeepSeek, touts ‘extraordinary’ Blackwell demand after Nvidia crushes earnings—again

Nvidia lost a record $600 billion in market cap over a single day last month after DeepSeek debuted its R1 model.

27.02.2025 5

Fortune

Greg Mckenna

Nvidia smashes expectations yet again, posts record $130.5 billion in revenue for the year 

The chip giant’s latest earnings loom large for a market dealing with jitters around tariffs and inflation.

27.02.2025 7

Fortune

Greg Mckenna

Why are stocks still falling? Market awaits Nvidia earnings and inflation data with bated breath

The impacts of the Trump administration’s moves with tariffs and mass federal layoffs remain huge wild cards.

26.02.2025 30

Fortune

Greg Mckenna

Palantir trades at 500 times earnings. CEO Alex Karp’s vision of a government ruled by tech could justify the price

Karp believes Big Tech needs to refocus on the military and national security work at the heart of Silicon Valley’s origins.

25.02.2025 10

Fortune

Greg Mckenna

As investors await Warren Buffett’s annual letter, is Berkshire Hathaway hoarding cash out of fear—or waiting for an opportunity?

Berkshire has built a record $325 billion cash heap as a historically expensive stock market presents few obvious value buys.

22.02.2025 7

Fortune

Greg Mckenna

Elon Musk had his $100 billion Tesla pay package denied by Delaware courts twice. Now, one of the EV maker’s law firms wants to change state law

With help from famed former judge Leo Strine, Delaware lawmakers have raced to propose a bill friendlier to controlling stockholders as the state...

21.02.2025 10

Fortune

Greg Mckenna

Trump wants half of Ukraine’s estimated $11.5 trillion in rare earth minerals. Is a deal even possible?

The total value of Ukraine’s mineral deposits has been pegged in the trillions, but a deal with the U.S. faces several roadblocks.

19.02.2025 50

Fortune

Greg Mckenna

How does a VAT work? Here’s why Europe’s consumption tax has Trump vowing reciprocal tariffs

A value-added tax is not a tariff, but Trump blames it for America’s trade deficit with the European Union.

15.02.2025 10

Fortune

Greg Mckenna

Singapore warns of a ‘large cone of uncertainty’ around U.S. policy, even as the Southeast Asian country reports better-than-expected growth

Singapore's economy grew by 4.4% in 2024 thanks to a revived manufacturing sector, yet officials warned of "rising global economic uncertainty" in the...

14.02.2025 20

Fortune

Greg Mckenna

India to get access to F-35s as Trump touts his ‘special bond’ with Narendra Modi

Joining Trump's meeting with Modi was SpaceX and Tesla tycoon Elon Musk, who also met the Indian prime minister one-on-one.

14.02.2025 10

Fortune

Greg Mckenna

Trump tariffs have JPMorgan flying gold from London to New York—but big banks also find an arbitrage opportunity

Fears that Trump could impose a blanket tax on all imports from Europe, including gold, has prompted a massive influx of the metal into the U.S.

14.02.2025 10

Fortune

Greg Mckenna

Trump wants lower interest rates to go ‘hand in hand’ with tariffs, but yields are soaring after inflation data came in hot

Wall Street is reckoning with the possibility the Federal Reserve will stand down on rate cuts this year.

13.02.2025 7

Fortune

Greg Mckenna

OpenAI’s DeepResearch can complete 26% of ‘Humanity’s Last Exam’ — a benchmark for the frontier of human knowledge

OpenAI’s o1 and DeepSeek’s R1 models, which previously sat atop the leaderboard, could only get through roughly 9% of the exam.

12.02.2025 10

Fortune

Greg Mckenna

Adjusting the bookkeeping on America’s gold reserves could add $750 billion to the U.S. Treasury overnight—but one expert says cashing out could trigger an ‘Armageddon’ event and tank the market

Treasury Secretary Scott Bessent recently pledged to “monetize” the U.S. government’s assets.

11.02.2025 9

Fortune

Greg Mckenna

Uber stock jumps 7% after Bill Ackman reveals $2.3 billion stake

The Pershing Square CEO said he's admired the ridesharing giant since actor Edward Norton introduced him to the app in its early days.

08.02.2025 4

Fortune

Greg Mckenna