Economy and Markets

Bobbob Bytes: 23 September

September 23, 2022
By
Bobbob Team

Happy Friday (and long weekend for some) from the Bobbob Team! We have very exciting news to share this week! (hint: we got some new epic features 🎊)


Inside this week’s edition:

▪︎ Your Local, International and financial news

▪︎ New features are now live! (P.S. Please update your App to see them)

▪︎ How we got the name Bobbob?

🚨 Big News:

🌍 International:

▪︎ Mark Zuckerberg's fortune has plunged by over $70 billion in 2022 so far, the most of the world's 500 richest people.

▪︎ Russian President Vladimir Putin announced a partial military mobilisation to "liberate" east Ukraine’s Donbas region. This could mean that Russian businesses and citizens are expected to make a greater contribution to the war effort, with 300,000 reservists already called up.

▪︎ US Treasury Yields Hit Decade High: Investors sold government bonds as the Fed lifted interest rates by another 0.75%, the fifth time this year, sending yields to their highest level in years.

▪︎ 💚 Patagonia’s billionaire owner gives away company to fight climate crisis and calls Earth their only shareholder. Patagonia, one of the world's most successful brands will be given to a non-profit that will pump all of the profits into saving the planet. 🌍💚

▪︎ Queen Elizabeth’s II funeral will be marked in history and with good reasons. It will be one of the biggest diplomatic gatherings in decades and the UK is mobilizing its largest security detail ever since WWII.

🦘Local:

▪︎ Sydney Swans advanced to the 2022 AFL grand final after a heart-stopping one-point win over Pies. Sydney now stands just one win away from another AFL premiership and will be playing against Geelong in this weekend’s grand final at the MCG. Exciting weekend ahead!

▪︎ Australians are now the richest people in the world, according to a report by Credit Suisse Global Wealth Report. The median personal wealth per Australian adult is a whooping $409,055!!!

▪︎ Australia is changing the way it regulates the internet to reduce harmful content. Some have raised concerns with regard to privacy over personal messages and files.

▪︎ Australia's worst mass whale stranding of about 230 whales on record. This occurred at Macquarie Harbour near Strahan on Tasmania's west coast, known as Hells Gates. 😢




Why?

▪︎ Financial markets are down this fortnight as the Fed raised rates by 0.75% on Wednesday in its quest to bring down the scary inflation we're all seeing. With the Fed’s increasingly hawkish long-term outlook, markets remain muted. 🦅 (Hawks are policymakers and advisors who favour higher interest rates to keep inflation in check.)

▪︎ Ether's supply growth has slowed dramatically since the Ethereum Merge last week. The decrease in the supply of ether in circulation is caused by the ending of proof of work, which paid miners 2 ether for each block they mined, whereas now, due to proof of stake, validators (stakers) receive a more dynamic fee. The staking process, and the decrease in the issuance of ether on an annual basis, will decrease the supply of ether, and in the future, ether should be a deflationary currency, meaning each year there will be less ether in circulation, which if demand stays the same or goes up, should increase the value of ether.


📲 Product Update - Bobbob 2.0

What's new?

▪︎ 👛 SWYDS: Save What You Don't Spend - set your budget and save the money purposefully never spent on coffees, shows and public transport!

▪︎ 🌝 Crypto: Purchase BTC and ETH right from your Bobbob Account (head to Settings to enable).

▪︎ 💱See your exchange rates: You can now see the rates of your deposits and withdrawals

▪︎ 💰 Project your interest: See your estimated interest per month before making a direct debit.

🏆 A$500 Monthly Referral Competition

Ready to bag A$500? One more week till the end of our September competition.

Go on, start referring!


The Rules:

Each month, the customer that refers the most amount of new customers will get A$500 paid directly into their Bobbob Account! Sound good? We think so too. To count as a successful referral, all your friends need to do is deposit at least A$99 into their account! T&Cs apply.


Hot tip: the leader this month is on 3 successful referrals (easy to beat 🥹)

🌳 Planet Earth

The little things that run the world - Ants: Researchers estimate there are 2.5m ants for every human across the planet.

Scientists have conducted the most comprehensive study of the global ant population to date, estimating more than 20 quadrillions of them in the world. The fact that these busy and social insects have survived since the dinosaur age comes as little surprise, especially since the oldest ant fossil dates back about 100 million years to the Cretaceous. Despite their size, they play a crucial role as key ecological players.  

🖨 Hot off the Bobbob Press

Have you ever wondered what is Bobbob, who decided on the name or what does Bobbob mean? Read here to find out all the deets.

Yours truly,

The Bobbob Team

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