Mar 27, 2026

Subject: The dash to cash has only just begun. What that means for stocks and bonds.

Sender: reports@marketwatchmail.com

Summary:

– Investors are just beginning to increase cash reserves, but not as quickly as after Russia’s invasion of Ukraine.

– JPMorgan’s analysis shows cash buildup is modest and equity positioning has slightly receded from January peaks but remains above 2022 lows.

– Concerns exist that central banks might tighten policy into a supply shock and loosen next year.

– Long-term inflation expectations remain anchored.

– Supply shock impact is visible in deteriorating service PMI and weaker cyclical stock performance.

– Low cash allocations may hinder stocks and bonds amid persistent uncertainty.

– Multi-asset investor rebalancing might lead to $65 billion equity buys and bond sells post Q1.

– Market highlights: US stock-index futures fell as oil prices rose; 10-year Treasury yield increased.

– Key asset performance includes S&P 500 down 0.50% over 5 days; oil is up nearly 43% over 1 month.

– Other news: Iran maintains a tollbooth regime over Strait of Hormuz; the Pentagon considers military options.

– Upcoming data: Initial jobless claims report; Fed governor Lisa Cook’s speech on financial stability.

– Corporate moves: Corebridge and Equitable announce $22 billion all-stock merger.

Subject: Axios Pro Rata: GLP-1 unicorns

Sender: dan@axios.com

Summary:

– eMed, a telehealth company led by Linda Yaccarino, raised $200 million at a valuation over $2 billion.

– eMed focuses on employer-provided access to GLP-1 medicines and supporting clinical adherence.

– Aon and CVS Caremark are among partners adopting eMed’s programs.

– CEO Yaccarino plans to explore the broader peptide ecosystem and expand globally.

– The legal AI startup Harvey raised $200 million at an $11 billion valuation.

– Other venture capital raises include AI notetaking startup Granola ($125m), health system AI platform Qualified Health ($125m), and multiple others in health, drone tech, payments, legal tech, and energy.

– Private equity and M&A news highlights deals including Corebridge Financial and Equitable Holdings’ $22 billion merger.

– JetBlue reportedly is seeking a merger partner following antitrust hurdles with Spirit Airlines acquisition.

– Average Wall Street bonuses rose 6% to $246,900 between 2024-2025.

Subject: Money Stuff: Weather Prediction Predictions

Sender: noreply@news.bloomberg.com

Summary:

– Hedge funds use AI and machine learning to predict weather forecast revisions by European Centre for Medium-Range Weather Forecasts (ECMWF) to gain trading advantages.

– ForecastEdge launched by Atmospheric G2 aims to predict forecast shifts to profit from energy market moves.

– AI optimization focuses on predicting forecast direction rather than precise temperature or precipitation.

– Discussion on “reward hacking” in AI parallels: predicting market impact of ECMWF forecasts rather than actual weather.

– Coverage of a fake Warner Bros. bidder, Nobelis Capital, which submitted an unverified $32.50/share all-cash bid lacking financing proof; purportedly a fraudulent or fanciful attempt to join merger discussions.

– Overview of banks “re-tranching” by lending to private credit funds rather than directly to businesses, benefiting from capital regulatory treatment and risk transfer.

– Apollo’s insurance arm named second-biggest borrower in Federal Home Loan Bank system.

– Theia Group, a failed spy-satellite startup, ended with founder jailed on fraud charges; signs of fraud included unrealistic risk factors and lack of local financial incentives.

– Story of alleged scammers posing as Cartier and Rockefeller family members to con wealthy family offices, exploiting their mix of financial sophistication and social naivety.

– Elon Musk’s securities fraud trial featured jury’s “420” damages verdict joke criticized by his lawyer as mocking.

– Other news briefs include high Wall Street bonuses, private credit fund losses, and market event highlights.

Stay Well!