Layoffs are still sweeping Corporate America. Disney started its first wave of layoffs in its plan to cut 7,000 jobs, including the elimination of its metaverse division and more than 300 streaming employees in Beijing. Electronic Arts and Roku also reported job cuts, while Meta Platforms Inc. plans lower bonus payouts and more frequent employee performance assessments amid its own revamp. Read More...
Barrons.com
The Newest ‘Bubble’ Is in Money-Market Funds
People are rushing into money-market funds. Total assets held in money-market funds, which are investment vehicles that buy cash-like securities such as short-term Treasury bills, recently reached close to $5.5 trillion, according to RBC. Earlier this year, money-market fund assets stood at roughly $4.5 trillion, a level at which people stopped pouring more money into those funds a few times in the past few years, opting instead to buy other assets like stocks.
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