Remote | March 21th, 2024

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MARKETS AT A GLANCE

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Here’s everything you need to know today. In today's whirlwind of news, active bond funds are showing passive funds how it's done, outpacing expectations in a plot twist for 2024.

Chipotle's stock is slicing through the $3,000 mark faster than you can say "extra guac," thanks to its first-ever stock split, while Paramount Global plays hard to get in an $11 billion bidding drama.

The Federal Reserve plays it cool by not messing with interest rates, sparking a buzz in the fintech world. And Reddit? It's sliding into the IPO scene, sharing a piece of the pie with its VIP users. It's shaping up to be an episode full of twists, turns, and tantalizing tales in the worlds of finance and tech.

Let’s dive into more detail below.

ECONOMY
Fed Holds Rates, Signals Future Cuts
The FED maintained rates, forecasting three cuts, a move with far-reaching economic implications

BREAKING NEWS
In a pivotal decision during Wednesday's meeting, the Federal Reserve opted to maintain the current interest rates, projecting a strategic forecast involving three potential rate cuts.

WHAT HAPPENED
Fed Chair Jerome Powell underscored the job market's resilience, asserting it wouldn't inhibit the Federal Reserve from implementing rate cuts. Despite recent spikes in inflation, Powell and his team are seeking confirmation that inflation rates align with the central bank's 2% target. The stance on interest rates, coupled with the anticipated adjustments in the balance sheet reduction pace, paints a complex picture of the Fed's economic outlook.

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BUSINESS
Chipotle's Split and Paramount's Big Bid
Chipotle's stock milestone and Paramount's $11 billion offer redefine industry dynamics

BREAKING NEWS
Chipotle Mexican Grill announced its first-ever stock split, sending shares soaring past $3,000, while Paramount Global finds itself at the center of a bidding war with Apollo Global Management's eye-popping $11 billion offer for its film and T.V. studio business. The $11 billion bid is to acquire a part of Paramount Global, excluding other business lines like CBS, BET, and the streaming services Paramount+ and Pluto. These developments signal potential industry-wide shifts in the fast-casual dining and entertainment sectors.

WHAT HAPPENED
Chipotle's board of directors recently decided to approve a 50-for-1 stock split. This move aims to attract more investors by providing an accessible share price. The decision comes from an impressive year of record-breaking performance by the company. In other news, Paramount Global's stocks recently experienced a significant surge of over 9% upon the announcement of Apollo's bid. This proposal could bring about a major transformation in the entertainment industry landscape. It's worth noting, however, that CBS and various cable networks have been excluded from the proposal.

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BONDS
Bond Funds Surpass Passive Counterparts by 53%
Active bonds outperformed passive funds with a 53% win rate in 2023 amid market volatility

BREAKING NEWS
Active bond funds have emerged as the unexpected winners of 2023, with 53% of active managers surpassing the average passive fund's performance. This development is particularly notable in the intermediate core bond category, where active management has shown remarkable success.

WHAT HAPPENED
According to newly released data, active fixed-income funds significantly improved performance compared to their passive counterparts in 2023. The win rate for active bond funds increased to 53%, a substantial jump from the 30% recorded in 2022. This shift in performance has caught the attention of investors and industry experts alike, prompting a reevaluation of traditional investing strategies.

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