Notes Today:

 

• Pornhub acquired … Ethical Venture bought them. No joke!

• Credit Suisse is exercising an option to borrow $53.75 billion (CHF 50 billion) from the Swiss National Bank - to stay afloat. 

• Goldman raised US recession probability to 35% on banking stress – I would put it a bit higher 50%? 

• March 16 (Reuters) - Bankrupt cryptocurrency exchange FTX made transfers of about $2.2 billion to company founder Sam Bankman-Fried through related entities, the company's new management said. (Btw, why is this dude  out on no money down bail? - remarkable)

• The Baltic Exchange’s main sea freight index, tracking rates for ships carrying dry bulk commodities, snapped its 19-session winning streak on Thursday, weighed by weakness in the capesize and panamax segments. 

  The overall index, which factors in rates for capesize, panamax and supramax shipping vessels, lost 43 points, or about 2.7%, to 1,560 – its biggest dip since Feb. 15. 

  The capesize index lost 128 points, or about 6.1%, to 1,976. 

  Average daily earnings for capesizes, which typically transport 150,000-tonne cargoes such as iron ore and coal, decreased $1,066 to $16,387. 

  Dalian and Singapore iron ore futures slumped on Thursday, along with steel benchmarks in China as sentiment soured, mirroring a broader risk aversion triggered by fears of a banking crisis.  (Helllenic Shipping)