BlockFi's Potential Bankruptcy and NY Fed's Digital Dollar
Bloomberg Tech
Bloomberg
4.4 • 70 Ratings
🗓️ 20 January 2023
⏱️ 47 minutes
🧾️ Download transcript
Summary
Bloomberg's Caroline Hyde and Ed Ludlow break down the latest in the wave of tech layoffs, with Google cutting 12,000 jobs. Plus, Elon Musk testifies at a Tesla fraud trial in San Francisco; and CFTC Commissioner Christy Goldsmith Romero wants to regulate digital assets.
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| 0:00.0 | Hi, I'm Lisa Mateo, introducing you to the new Stockmovers report from Bloomberg. |
| 0:08.6 | These are short audio reports, five minutes or less, delivered right to your podcast feed throughout the day. |
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| 1:15.6 | I'm Caroline Hyde Bloomberg's World Headquarters in New York. And I'm Ed Ludlow in San Francisco. This is Bloomberg Technology. |
| 1:19.6 | Coming up yet more layoffs. This time at Google's parent, that means more than 100,000 tech workers have been laid off since the start of 2022. |
| 1:28.3 | And Elon Musk is testifying under oath right now in a multi-billion dollar trial |
| 1:34.3 | where the claims he misled shareholders in 2018 tweets about taking the company private. |
| 1:40.3 | And we ask CFTC Commissioner Christy Goldsmith-Ramiro |
| 1:43.3 | how she suggests the government regulate digital assets. But first, I check-in on those markets. We'll get to digital markets in just a moment. Let's have a little look at what's happening in terms of your NASDAQ. What a day. What a risk on trade. What a desire to get into technology stocks. Helped, of course, by some single names that Ed will point out with the NASDAQ crushing it up 2.7% and really managing to shirk off some of those red screens that we were used to in the rest of the week. So actually it ends on a high note and brings the weekly move is four days, of course, a shortened holiday trading week into the green. The MSCI orry World Index was also up on the day, so we saw |
| 2:17.8 | risk assets rally over in Europe and indeed over in Asia as well. Interesting move that |
| 2:22.6 | we've seen such lockstep moves in terms of bonds and stocks. In fact, All-Country World Index |
| 2:27.7 | and your overall global ag bond index, they are basically working together. We haven't seen |
| 2:32.9 | such correlations going back to the 1990s. |
| 2:36.0 | Today they split direction. Will this be more of a ton of events or the 6040 work once again, |
| 2:40.7 | with bonds actually falling, yields higher up almost nine basis points, while of course stocks |
| 2:44.9 | may lift on the higher side too. It's all about the Federal Reserve. It's all about macro picture. |
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