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Illustration: Sarah Grillo/Axios

Mexico's central bank cut interest rates to 7% last week, marking the 800th interest rate cut by a central bank since the Lehman Brothers' bankruptcy in September 2008, Bank of America Global Research notes.

What's happening: The number of rate cuts from central banks have picked up steam since last year when the global economy's growth rate stumbled to its slowest since the financial crisis.

Why it matters: The recent rate cuts are fueling "twin bubbles" in investment grade corporate bonds and Big Tech stocks like Facebook, Amazon and Netflix, BofA analysts say.

Watch this space: Allocation to equities fell to 60.3% of private clients' portfolios, which is still slightly above the historical average but well below the March 2015 peak of 62.5%.

  • The analysts also pointed out that "clients are again selling equities (equivalent to 1.8% of [assets under management] annualized) & buying bonds (1.5%)."

Go deeper:

Go deeper

The rebellion against Silicon Valley (the place)

Photo illustration: Sarah Grillo/Axios. Smith Collection/Gado via Getty Images

Silicon Valley may be a "state of mind," but it's also very much a real enclave in Northern California. Now, a growing faction of the tech industry is boycotting it.

Why it matters: The Bay Area is facing for the first time the prospect of losing its crown as the top destination for tech workers and startups — which could have an economic impact on the region and force it to reckon with its local issues.

Erica Pandey, author of @Work
1 hour ago - Economy & Business

Telework's tax mess

Illustration: Annelise Capossela/Axios

As teleworkers flit from city to city, they're creating a huge tax mess.

Why it matters: Our tax laws aren't built for telecommuting, and this new way of working could have dire implications for city and state budgets.

Wanted: New media bosses, everywhere

Illustration: Sarah Grillo/Axios

The Washington Post, Los Angeles Times, Reuters, HuffPost and Wired are all looking for new editors. Soon, The New York Times will be too.

Why it matters: The new hires will reflect a new generation — one that's addicted to technology, demands accountability and expects diversity to be a priority.