Rate Fate

Fly Charts: Taylor Rule Musings and Nintendo's Smartphone Problem

From Caterpillar's surge to Biogen's tipping point, here are four charts that tell you what you need to know in business today.
Photographer: Andrew Harrer
NINTENDO CO LTD
+1740.00
At Closing, April 20th
45900.00 JPY
CATERPILLAR INC
-2.45
At Closing, April 20st
153.25 USD

Good morning! This is Fly Charts, the daily charts-only newsletter from Gadfly; sign up here. From Caterpillar's surge to Biogen's tipping point, here are four charts that tell you what you need to know in business today.

Nothing Matters

Analysts keep jacking up their price targets for Caterpillar, and the company keeps finding ways to surpass them.

Source: Bloomberg

What If

Whether or not you're a fan of the Taylor rule, more rules are likely to guide the Fed's decisions in the future.

Source: Federal Reserve Bank of St. Louis

Sales Boost

Nintendo needs more of its games to be lasting hits and fewer explosive but short-lived smartphone phenomenons.

Source: Bloomberg

Both Sides Now

Competition from new drugs and a now-cheaper older drug are set to heap pressure on Biogen's multiple sclerosis medicines.

Source: Bloomberg

And don't miss Stephen Gandel on the rapidly inflating bitcoin bubble: "Compared with other asset classes, like real estate or stocks, bitcoin is a pimple, which is why some people have convinced themselves that bitcoin can't be in a bubble. New York City real estate alone is worth more than $1 trillion. There is $8 trillion worth of gold in the world, nearly $15 trillion in Treasury bonds and more than $25 trillion in the U.S. stock market. Bitcoin's mere $100 billion, by comparison, is small.

But that's only part of the equation. New York City real estate is worth 10 times bitcoin, but it didn't pass the $100 billion mark, adjusted for inflation, until the late 1970s, or roughly 310 years after the territory was renamed after the Duke of York. U.S. auto sales didn't reach $100 billion for 60 years. Apple did it in a sprightly 31 years, but that was still four times slower than bitcoin, which clocked in at about seven years. But Apple, unlike bitcoin, produces significant earnings and holds $260 billion in actual cash."

This column does not necessarily reflect the opinion of Bloomberg LP and its owners.

    To contact the author of this story:
    Max Nisen in New York at mnisen@bloomberg.net

    To contact the editor responsible for this story:
    Mark Gongloff at mgongloff1@bloomberg.net

    Before it's here, it's on the Bloomberg Terminal.
    LEARN MORE