🚀 Google fires employees for protesting

Market Overview
Read time 1.4 minutes

Year To Date Performances:

1. Google recently fired 28 employees following their participation in protests against the company's military contracts with Israel. These protests were part of a larger movement led by "No Tech For Apartheid," opposing Google and Amazon's Project Nimbus—a $1.2 billion initiative to provide the Israeli government and military with cloud computing services. The workers protested to express their discontent with Google's involvement in military operations and to advocate for better labour conditions. The firings occurred after a significant sit-in at Google's New York and Sunnyvale offices, which led to some protesters being arrested. These events underline the tension within Google regarding its business choices and their ethical implications.

2. The Treasury market is on the brink of potential turbulence as 10-year bond yields approach 5%, warns Vanguard. This concern arises from the market's earlier anticipation of rapid interest rate cuts by the Federal Reserve, an expectation dampened by persistent economic robustness. Ales Koutny, Vanguard's head of international rates, cautions that surpassing a yield of 4.75% might unleash a selling frenzy unseen since 2007, driving yields even higher. This shift in market sentiment aligns with recent adjustments in Fed rate cut expectations, now projected for September instead of June, following data that underscores lingering high inflation. As a result, the 10-year yield briefly surged to nearly 4.7% before easing to 4.57%.

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4. Headlines

   1. Trump Media sent shareholders information on preventing their shares from being loaned out to short sellers.

   2. Taiwan Semiconductor had revenue and profits that were better than expected in Q1.

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