Stock Market Bubble

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Hello, readers!

Happy Saturday, and welcome to Insider Finance. Here’s a rundown of the must-know stories from the past week:

JPMorgan wants to deepen its ties to Silicon Valley — and hired five people to help
Archegos blowup shines spotlight on the risks lurking in swaps, family offices
SPAC insiders say PIPE financing for deals is drying up and the market needs to take a “collective breath”
Goldman gives updates on return-to-office plans for summer interns and full-time campus hires 
Big Law associates are burned out after a year of intense hours and rapid-fire deals

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How Archegos pushed the limit on risky trades and sent a $35 billion shockwave through Wall Street

“How could this firm take such huge economic exposures into Viacom and other companies without having to make any disclosures? Because of swaps,” Paul Cellupica, former general counsel for the SEC’s investment management division, told Insider. “It will raise questions.” here.

The SPAC M&A frenzy has finally reached its limits and a huge funding logjam is starting to form

A key piece of SPAC transactions is drying up.  “We are seeing, on the PIPE front, exhaustion and being bombarded with deals and pressure to make decisions quickly,” said David Goldschmidt, a Skadden partner who specializes in capital markets work. here. 

JPMorgan poached 5 people from Silicon Valley Bank and Bank of America as it builds out teams focused on VCs and ‘disruptive’ commerce

JPMorgan just hired four people from Silicon Valley Bank and one from Bank of America as the firm looks to ramp up doing business with startups and VCs. here.

Big Law associates are burned out after a …read more

Source:: Business Insider


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