Hi Treasure Friends,
We hope you are well. The most important news last week in the world for finance was the Fed meeting where Chairman Powell kept interest rate unchanged but announced the possibility of a further hike this year.
On our blog
Our Director of Quantitative Investment has a look at applying Risk Parity for Fixed Income strategies: More info here.
What the Treasure Team is reading
- Economy: Some clouds gathering? Credit card losses are rising at the fastest pace since the Great Financial Crisis
- Finance: Governments pressing banks into raising savers’ interest rates European governments go direct to citizens to fund borrowing
- Finance: Higher rates for longer... An Age of Austerity is probably on the way
- Finance: What is the purpose of using FX? Who Hedges Currency Risk, And Why?
- Finance and Art: Really interesting deep dive into the life of one of the biggest art dealer How Larry Gagosian Reshaped the Art World
- Markets: Getting close to $100 Oil prices rise on supply deficit concerns
- Markets: Demand will meet supply BuT wHO wILL bUy aLL ThE treASUrieS?!
- Markets: Instacart business model broken down Understanding Instacart: Serving The Best Grocery Customers In the Industry
- Fintech: Fintech is everywhere Apple and Goldman were planning stock-trading feature for iPhones until markets turned last year
From the Treasure chest...
Take The Money And Run: A Danish artist who pocketed the cash he received from a museum to incorporate into an artwork must pay the roughly 530,000 kroner ($76,000) back, a court said. Jens Haaning should still get paid 40,000 kroner for the piece — two blank frames — which the museum ended up putting on display, a court in Copenhagen said in a ruling on Monday. Haaning agreed with Kunsten, a museum in northern Denmark, in 2021 that he would borrow the cash to replicate his earlier work which displayed the annual incomes of an Austrian and a Dane. But when the museum opened the box that Haaning had shipped, the cash was missing, the canvas were blanks and the artwork’s title had been changed to “Take the Money And Run.” Haaning declined to return the cash, so the museum took him to court and has now been able to recoup some of their money.
Have a great week!
The Treasure Team
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