In today’s briefing:
- Meta’s Moat
- El Nino is here // River Rhine is drying up again // Managers are net short commodities
- The Data Behind Tether’s Depeg
Meta’s Moat
- During the weekend, I asked my twitter followers: What do you think Facebook’s DAU to MAU ratio was in 2009?
- The number that got the highest votes was ~80% even though I mentioned the most recent number was ~68%.
- I asked this question a couple of friends in real life too and they too picked the ~80% number.
El Nino is here // River Rhine is drying up again // Managers are net short commodities
- El Nino is here (like we forecasted) S&P Global highlighted some facts regarding the effects of the weather phenomenon on crop yields.
- I found the following chart about soybean yields quite interesting and also important going forward.
- Makes one think how sustainable last week’s price surge in beans actually is!!! El Nino tends to be good for soybean yields in Argentina and Brazil but also in the US.
The Data Behind Tether’s Depeg
- Last week, there was a possible attempt to depeg Tether (USDT), the world’s largest stablecoin.
- The company has since claimed the destabilization was caused by manipulation ahead of a big documents release, which shed new light on the firm’s banking relationships and commercial paper exposure.
- While the facts remain blurry, the selling started a few days before USDT dipped to as low as $.995 on both centralized and decentralized exchanges, suggesting some holders may have had advanced warning of the release.
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