Haircuts in Tech, Activists at Salesforce, & Debt Ceiling Drama in DC 01/23/23

Congress is working to find a bipartisan path to averting a debt default; the U.S. has hit its borrowing cap of $31.4T, and it’s up to lawmakers to raise the debt ceiling or find another solution before the Treasury Department’s “extraordinary measures” run out in the summer, and the United States cannot pay its bills. PIMCO Head of Public Policy Libby Cantrill discusses the standoff in Congress and compares today’s debt ceiling drama with the standoffs in previous years. Tech companies have announced layoffs en masse, and Gene Munster of Deepwater Asset Management (formerly Loup) says the workforce cuts are still underway. Plus, activist investors are reportedly taking stakes in Salesforce, which could signal big changes ahead for the tech company. 

In this episode:

Gene Munster: @munster_gene

Becky Quick @BeckyQuick

Joe Kernen, @JoeSquawk

Andrew Ross Sorkin, @andrewrsorkin

Cameron Costa, @CameronCostaNY