Morning Market Download from Invincible Money

Personal finance + economics + markets

Staying on top of the markets, economics and the global issues that affect your money takes a lot of time and effort. We distill it down to a quick 5 minute read to help you make better money decisions.

EconomyThe Fed said 3 interesting things in their March minutes, just released.

First, the expect a recession to hit (finally) in the second half of 2023, as a result of the banking crisis. GDP will be around 0.4% for all of 2023.Second, another 0.25% rate hike seems likely.Third, the economy is "sound and resilient." Note: we had the 2nd and 3rd largest bank failures in March.

People are spending less on their credit cards, after total credit card debt reached an all high.

NewsTwitter is partnering with eToro to offer stock trading through its app, as Musk works toward become the new WeChat. The company also moved where it's incorporated from Delaware to Nevada and changed the corporate name to X Corp. "X" was the name of Musk's company before he merged with with Paypal.

Must revealed he's laid off more tan 6,000 people and they're down to 1,500.

“This is not a caring or uncaring situation. It’s like, if the whole ship sinks, then nobody’s got a job,” Musk said.

StocksApple is considering moving production of its MacBooks to Thailand as it diversifies away from reliance on China. It has already moved some production to Vietnam.

Luxury brand LVMH reported earnings up 17% to $23B as demand for luxury goods remains strong.

U.S. Energy Secretary said they're considering refilling the Strategic Petroleum Reserve in the last half of the year. Critics said recently that the administration missed an opportunity to refill it as a great price months ago.

CryptoThe Ethereum network upgrade Shapella that allows stakers to unstake was a success. Skeptics feared the price would tank as people unstaked, but it was up 4.5% 24 hours after the upgrade. One of the reasons may be that unstaking isn't yet available to everyone, especially large players like Coinbase and Kraken.

Liquid StakingThe process of using a 3rd party to stake your Ethereum is called Liquid Staking. You can stake your ETH and get stETH, which you can then use to generate yield in defi.

Here are the top players, which will likely change and unstaking becomes available:

1. Lido Finance - stETH. 74% of all staked ETH is controlled by Lido and they have a market cap of $11.23B.

2. Coinbase - cbETH. 15% of all staked ETH with a market cap of $2.29B.

3. RocketPool - the most decentralized. Withdrawls will be available April 18th.

4. Frax Finance - sfrxETH - and up and comer with a 229% TVL growth rate in the past 90 days.

Be a Better Investor

Get SmarterHere are 3 things that an older investor might wish they knew when they were 20:

1. The power of compounding: Starting early and consistently investing can result in significant growth over time.

2. The importance of diversification: Investing in a variety of asset classes can help reduce risk and volatility.

3. The impact of fees: High fees can eat away at investment returns over time, so it's important to pay attention to them.

Legal StuffNothing in this newsletter is financial advice. Always do your own research and think for yourself.