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Illustration: Sarah Grillo/Axios

"It’s the Worst Time to Make Money in Markets Since 1972," Bloomberg's Elena Popina writes.

Details: "Ned Davis Research puts markets into eight big asset classes — everything from bonds to U.S. and international stocks to commodities. And not a single one of them is on track to post a return this year of more than 5 percent, a phenomenon last observed in 1972."

  • Why it matters: "Market statisticians are falling over each other in 2018 to describe the pain being felt across asset classes."

"Goldman Sees Another Weak Year After a Lousy 2018," per Bloomberg's Chris Anstey:

  • "Slowing economic growth, shrinking central bank balance sheets and continued bouts of volatility will help make 2019 another poor year for risk-adjusted investment returns, with few obvious havens, according to Goldman Sachs Group Inc."

⚡ Breaking: "Stock markets around the world fell sharply [today], with the arrest of a high-profile Chinese executive in Canada rattling hopes for thawing U.S.-China trade relations, while energy prices resumed their steep drops." (WSJ)

Go deeper: After Huawei arrest, experts say China could retaliate

Go deeper

47 mins ago - World

Scoop: Blinken protests Israel settlements approval in "tense" phone call

Benny Gantz (L) and Tony Blinken. Photo: Jacquelyn Martin/Pool/AFP via Getty

Secretary of State Tony Blinken protested the decision to approve 3,000 new housing units in Israeli settlements in the occupied West Bank during a tense phone call on Tuesday with Israeli Defense Minister Benny Gantz, three Israeli officials tell me.

Why it matters: This is the first time new construction in the settlements has been approved since President Biden assumed office, and the Biden administration had been privately pressing the Israeli government not to proceed.

Senate Democrats unveil new income tax for billionaires

Sen. Ron Wyden. Photo: Drew Angerer/Getty Images

Senate Democrats on Wednesday released a billionaires' tax proposal, designed to help support President Biden's social spending and climate change legislation.

Why it matters: Sen. Ron Wyden (D-Ore.), chairman of the Senate Finance Committee, said the Billionaires Income Tax would raise "hundreds of billions of dollars" and would affect approximately 700 taxpayers who have more than $1 billion in assets or incomes of over $100 million a year.

The startup that wants to disrupt big internet providers

Illustration: Maura Losch/Axios

A new startup backed by funding from AOL founder Steve Case and Laurene Powell Jobs wants to break up broadband monopolies across the country.

Why it matters: Internet access has been crucial during the pandemic, but it's not ubiquitous, and it can be both slow and unaffordable in swaths of the country.

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