Markets think interest rates could stay high for a decade or more | Why Managers Should Think More Like Hackers | How to Deal When You Lose a Good Client | A new Beatles track is surprisingly soulful

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� � � � � � Markets think interest rates could stay high for a decade or more - The Economist    NOT LONG ago, as interest rates in the rich world hovered near zero, economists debated whether their downward march was the product of a decades-, centuries- or millennia-long trend. Now the burning question is how long they will stay high. On October 18th the ten-year Treasury yield, which incorporates long-term expectations for interest rates and was below 1% as recently as 2021, hit 4.9%, its highest since 2007. The 30-year Treasury yield crossed 5% the same day. Analysts at Bank of America may have sounded a little breathless when they declared last month that rates were “coming off 5,000-year lows”.  But that is indeed how it feels to economists, investors and anyone in the uncomfortable position of servicing debts they incurred when almost everyone expected rates to be low for ever. The conviction that rates will remain “higher for longer” is spreading around the world. The euro zone saw negative interest rates in 2021; now Germany must pay nearly 3% to borrow for a decade. Britain’s bond yields are nearly as high as America’s. Even Japan, whose apparently permanently low rates were seen as a harbinger for the rest of the world, has faced upward pressure on its bond yields (see chart 1). Bets that its central bank will have to raise interest rates in 2024 for the first time since 2007 are mounting. If markets are right, a new era is beginning and the consequences will be far reaching. Households and companies will have to pay much more to borrow. The financial system will have to adjust to a painful new reality. And governments will find they have to divert more tax revenue to pay the interest on their accumulated debt. The higher-for-longer scenario that many investors are now predicting is a potentially toxic mix. Continued here � � � � � � Don't like ads? Go ad-free with TradeBriefs Premium Why Managers Should Think More Like Hackers - Harvard Business Review    Hackers are systems thinkers; they have an attitude that allows them to identify opportunities to make outsized impacts creatively, quickly, and resourcefully. Managers could benefit from thinking more like hackers. Hacking helps us take a step back from the worn-out management tenets of efficiency, long-term planning, hierarchical decision-making, and full information, to adopt instead more adaptable strategies. Adopting a hacker attitude can help managers work around obstacles, find opportunities across siloes, cultivate a culture of pragmatism, mobilize staff around processes instead of end goals, and navigate situations in which there isn’t an obvious answer or clear choice. Once while procrastinating at work, I stumbled upon the story of a computer hacker and cybercriminal, Albert Gonzalez. At 14, he was the ringleader of a group of mischievous computer geeks who hacked into NASA, drawing the attention of the FBI. Almost 13 years later, and after very little additional formal training, Gonzalez was prosecuted in one of the world’s largest and most complex identity theft cases — he and his colleagues had stolen more than 40 million credit card and ATM numbers. Continued here � � � � � � How to Deal When You Lose a Good Client - Inc.com    How Jennifer Garner's Once Upon a Farm Brand Rebounded After Nearly Being Pulled From Store Shelves How the Founders of Glow Recipe and Graza Use Unorthodox Marketing Tactics to Boost Their Brands How Supplement Brand Nutrafol Salvaged $100,000 Worth of Product After a Manufacturing Mishap Continued here � � � � � � A new Beatles track is surprisingly soulful - The Economist    The long and winding road of the Beatles officially ended in 1970. Rumours swirled of a possible reunion—until December 8th 1980, when John Lennon was assassinated in New York. Since then, the Beatles’ archive has yielded a few posthumous gifts. In 1995 “Free as a Bird”, based on one of Lennon’s last demos, was released; another, “Real Love”, came the next year. On November 2nd “Now and Then”, touted as the last new Beatles song, hits the airwaves and the internet. Like its 1990s predecessors, it derives from a demo long judged unmixable. Sir Paul McCartney hinted in June that a “kind of scary” AI would help produce a “final Beatles record”, seeding fears of some deep-faked pastiche. In reality far more basic software allowed Lennon’s voice as recorded to sing on this new track, over accompaniment by Sir Paul and Sir Ringo Starr. (Guitar from George Harrison, who died in 2001, is also mixed in.) The release of this audio archaeology comes soon after AI allowed researchers to discern a single Greek word (“purple”) from a carbonised scroll excavated at Herculaneum. The Beatles are not such ancient history, but in both cases, technology has let a lost world speak. Continued here

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