Welcome to Bespoke Brunch Reads — a linkfest of the favorite things we read over the past week. The links are mostly market related, but there are some other interesting subjects covered as well. We hope you enjoy the food for thought as a supplement to the research we provide you during the week.
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Sports & Crypto
Sports Fans Are Into Cryptocurrency, and Brands Are Capitalizing by Alex Silverman (Morning Consult)
A new survey of Americans suggests that sports fans are much more likely to be familiar with cryptocurrency and other digital assets than the population as a whole, suggesting a valuable vein of marketing potential. [Link]
Golfer Tiger Woods joins NFT craze, releases 10,000 digital images to be sold through company co-founded by Tom Brady by Tom VanHaaren (ESPN)
Tiger Woods will attempt to monetize his career accomplishments via Tom Brady’s company Autograph. The NFTs are available via the DraftKings marketplace. [Link]
Regulation
Treasury unleashes cryptocurrency sanctions to fight ransomware by Sam Sabin and Victoria Guida (Politico)
This week Treasury announced stepped-up enforcement against crypto exchanges and cryptocurrencies that are used in ransomware attacks. An initial round of sanctions targeted Russian crypto exchange Suex. [Link]
Justice Department Files Antitrust Suit Challenging American-JetBlue Alliance by Brent Kendall and Alison Sider (WSJ)
An agreement between American and JetBlue to limit head-to-head competition in hub airports throughout the Northeast is being investigated by the Department of Justice on anti-trust grounds. [Link; paywall]
COVID
Pregnant Women Who Get COVID Vaccine Pass Antibodies to Newborns (HealthDay News)
An NYU study showed that all 36 newborns tested at birth for COVID-19 antibodies from their vaccinated mothers had immune systems primed for the virus, a major endorsement of vaccination for pregnant women. [Link]
‘Post-Vax COVID’ Is a New Disease by Katherine J. Wu (The Atlantic)
Some diseases that we already vaccinate against continue to infect vaccinated people, but in a modified, much less dangerous form. COVID is likely to move the same direction over time, remaining a burden on vaccinated people but ultimately a much less deadly one. [Link]
Renewables Finance
EXCLUSIVE White House backs plan for renewable energy industry tax partnerships by Jarrett Renshaw and Laura Sanicola (Reuters)
Carbon-intensive energy infrastructure is often owned by master limited partnerships, which confer significant tax advantages. The Biden administration is reportedly considering the creation of a similar set of vehicles for renewables energy production and distribution. [Link]
Europe’s Big Climate Reveal Gets Stuck on Sovereign Bonds by Frances Schwartzkopff and John Ainger (Bloomberg)
The EU is requiring disclosure from asset managers on how much of their portfolios are invested in environmentally sustainable activities. But government bonds aren’t included in the disclosure requirements, leading to a strange grey area for the largest chunk of the European bond markets. [Link; soft paywall]
A huge new city is being built in the US desert – but is it just greenwashing? by Ed Cunningham (TimeOut)
A billionaire’s plan to create a city of 5 million in the arid western United States is either a stroke of genius or a vanity project run horrifically amuck. [Link]
Natural Disasters
The Long-Lost Tale of an 18th-Century Tsunami, as Told by Trees by Max G. Levy (Wired)
A 9.0 magnitude quake before the arrival of Captain Cook in the Pacific Northwest recked havoc on the region, leaving a massive impact on the growth of Douglas Firs which still stand today. [Link; soft paywall]
Economic Research
Why Do We Think That Inflation Expectations Matter for Inflation? (And Should We?) by Jeremy B. Rudd (Federal Reserve Finance and Economics Discussion Series)
A scathing review of the widespread presumption that inflation expectations are a key source of future inflation, raising the possibility of significant policy errors. [Link; 27 page PDF]
E-Commerce
FedEx, UPS Rate Rises Are Making Online Shopping More Expensive by Paul Ziobro (WSJ)
Large shipping companies are raising prices in coming weeks with FedEx announcing a 6% cost hike; UPS and FedEx typically raise prices at about 5% per year. [Link; paywall]
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Have a great weekend!
