Tuesday☕️
Trending:
- First Republic Bank
- ISIS Leader
- US Immigration influx
Markets/Economies:
- Yesterday's US stock market:
- Yesterday's crypto market:
First Republic Bank:
- US authorities seized First Republic Bank, and sold most of its assets to JPMorgan. Facing massive customer withdrawals and plummeting share prices, the government was forced to step in.
- JPMorgan won the auction for First Republic, acquiring its $92 billion deposits, a majority of assets, $173 billion in loans, and $30 billion in securities. The FDIC agreed to share losses on certain loans and provided a $50 billion credit line to JPMorgan.
- This is part of a trend of large banks acquiring failing ones at discounted rates (due to insolvency), such as First Citizens acquiring SVB, New York Community Bank purchasing Signature Bank, and UBS absorbing Credit Suisse.
- JPMorgan Chase & Co., with $3.3 trillion in assets, is the 5th largest bank globally and the largest bank in the United States.
ISIS Leader:
- Turkey's president announced that the nation's forces eliminated the leader of ISIS. During the early 2010s, ISIS seized vast areas of Syria and Iraq, prompting the US and other countries to launch airstrikes/attacks against them.
- By 2019, the group had lost most of its territory. Despite this, ISIS has persisted as a terrorist organization, operating in parts of northern Syria under Turkish occupation.
- The president announced on Sunday that the ISIS leader detonated explosives, killing himself during a confrontation with Turkish special forces. If confirmed, this marks the third death of an ISIS leader within the last 18 months.
US Immigration Influx:
- The Biden administration announced plans to establish immigration processing centers in Colombia and Guatemala as Title 42, a pandemic-era policy allowing easier deportation of asylum-seekers, is set to expire on May 11th.
- A new policy will be implemented that day, but US authorities anticipate a surge in illegal crossings.
- To address this, the US will open immigrant processing centers in Colombia and Guatemala, located along the migrant route to the US. These centers will enable migrants to apply for legal entry into the US before reaching the border.
Statistic:
- Best-selling car models in 2022:
- 🇯🇵 Toyota Corolla: 1,120,000
- 🇯🇵 Toyota RAV-4: 870,000
- 🇺🇸 Ford F-Series: 790,000
- 🇺🇸 Tesla Model Y: 760,000
- 🇯🇵 Toyota Camry: 680,000
- 🇯🇵 Honda CR-V: 600,000
- 🇺🇸 Chevrolet Silverado: 590,000
- 🇰🇷 Hyundai Tucson: 570,000
- 🇯🇵 Toyota Hilux: 560,000
- 🇺🇸 Ram Pickup: 550,000
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