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4 Billion Dollar Bottle of Water: Soccer star, Cristiano Ronaldo, sat down at a Euro 2020 press conference last week and angrily moved 2 bottles of Coca-Cola to the side. (Coca-Cola is a sponsor of Euro 2020.) Ronaldo then picked up a bottle of water and said, “Agua!” Following the press conference, Coke’s stock finished down about 0.3% (= $4 billion) as the incident went viral on Twitter. The following morning, Coke’s ticker page was the number one most trafficked. Coke isn’t worried about any long-term effects from the athlete’s snub, as they reported to investors in April that they’re selling at pre-pandemic levels.  This is just another potent reminder of the incredible influence the social web has globally.

Runaway Inflation?: As we mentioned last week, inflation for the past twelve months hit an all-time high of 5%. However, some experts suggest that we’ve peaked, and as further data rolls in, inflation will be revised lower. Current contributors to increased inflation are a record stimulus, an almost unprecedented economic recovery, major supply chain issues and very tight labor markets. But given the influence of a variety of macro level issues (technological innovation, the Amazon effect, etc.), inflation is expected to settle around 3%, not far from the 2% level of the last decade. But this won’t happen without a sticky end to 2021 and a “stickier” 2022 according to Oxford Economics. Overall, the current inflation status is considered “largely transitory” by the Fed.

Secure Act 2.0 and Retirement: If passed, the “Secure Act 2.0” could drastically change the retirement landscape. Here’s a simplified picture of what would change: (1) the age retirees must begin drawing tax-deferred retirement accounts would increase to 73, (2) the catch-up contribution for older workers would increase, keeping the age-50 catchups, but allowing it until age 64, (3) allow employers to contribute to an employee’s 401(k), even if the employee isn’t saving or have that money diverted to paying student loans, and (4) allow for after-tax Roth contributions.

Google Goes Retail: After years of experimenting with pop-ups, Google has opened its first retail space underneath its offices in the Chelsea neighborhood in New York City. The store will sell Google products (Pixel phones, Fitbits, Nest smart home gadgets, etc.), as well as Google branded swag.

Whale Swallowing: A commercial lobster diver off the coast of Massachusetts says he was swallowed whole by a humpback whale! The diver, Michael Packard, says he was 45 feet deep in the waters off Provincetown when he felt a huge shove and then everything went dark. Packard says he was inside for about 30 seconds before the animal surfaced and ejected him.  I know this sounds like a good ole fashioned fish story, does it not?

Busy Signal: If you’ve tried to reach Compass Ion Advisors via fax in the last month or so, you’ve either heard an eternal busy signal or a suggestion that we’re no longer in business! Neither are true. Our fax number was inadvertently shut off and we are working to have it restored. But we are fully operational and ready to help in any way we can!