Johnny Lee

Taylor Swift boon for hotels? Masayoshi Son is back.


Recent fun news

Taylor Swift tours are very good for hotels, termed the “TSwift Lift”. ~80% revenue bump in Nashville, and 10-20% bump in large metros like Chicago and NYC. I guess scalpers are not the only winners. San Francisco hotel operators can rejoice once Ms. Swift arrives at Levi Stadium later in July.

Masayoshi Son returns with his signature hyped slides at this year’s Softbank shareholder meeting. AI will solve everything? Find its full glory here.

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This week’s Speed Read

1.    Commercial credit card rates topped 20.1%, highest since ~1970.

2.    New business applications remain elevated at ~175% pre-pandemic levels.

3.    U.S. home listings continue to sink to lowest level on record since ~2012.

4.    Uneven home price level effects across regions: SF Bay Area generally down ~12%, whereas NYC neutral ~0%, Miami up 8%.

5.    ~80% chance moderate El Nino, ~50% chance strong El Nino this winter.

6.    Global sea surface temperatures have been abnormally high (+1.1 degrees from 40-year average) in 2023 so far.

7.   Since Medicaid started unwinding COVID-19 renewal provisions, ~1.5M enrollees have been disenrolled (~300k in Florida, ~150k in Arizona).

Speed Read Charts

This week’s fun fact

Ensign Peak Advisors, Inc manages $124B in assets for the Church of Latter-day Saints, also known as the Mormon Church.