Earlier today, during a segment on CNBC’s “Squawk Box,” co-anchors Betty Quick, Andrew Ross Sorkin, and Joe Kernen discussed an intriguing topic: the influence of American singer Taylor Swift on Wall Street research notes. The discussion highlighted how Swift’s impact, often referred to as the “Taylor Swift Halo Effect,” is being felt even in the financial sector.
Taylor Swift is an American singer-songwriter, born on December 13, 1989, who rose to fame with her narrative songwriting, often inspired by her personal life. Initially pursuing country music in Nashville, Tennessee, Swift’s career soared with her 2006 debut album. She is known for hits like “Love Story” and “You Belong with Me.” Over time, her style evolved from country to pop, and more recently, to indie folk and alternative rock with albums like “Folklore” and “Evermore.”
Swift has received numerous accolades, including multiple Grammy Awards, and is celebrated for her philanthropy, advocacy for artists’ rights, and support of women’s empowerment and LGBT rights. Her influence extends beyond music to fashion, socio-political issues, and popular culture. With a dedicated fan base known as “Swifties,” Taylor Swift stands as one of the most influential and successful artists of her generation.
Quick started the report by saying that Wall Street firms such as BTIG, Goldman Sachs, and Jefferies have recently been using names of songs from pop superstar Taylor Swift for titles of some of their research notes.
CNBC was citing a Fortune article titled that was published on 16 November 2023. According to the article, Wall Street analysts are creatively intertwining pop culture with financial analysis, as evidenced by recent research notes featuring titles inspired by Taylor Swift songs. A note from BTIG titled “Now We Got Bad Blood” and another from Goldman Sachs’s David Kostin with “All You Had To Do Was Stay” are prime examples of this trend.
This blending of finance and pop culture is not just a quirky anomaly. As Fortune reports, Taylor Swift’s widespread appeal is influencing a number of Wall Street analysts, turning them into self-proclaimed “Swifties.”
Fortune says that Swift’s influence extends far beyond catchy report titles. Fortune highlights her significant impact on the US economy, with her record-breaking Eras tour contributing to economic growth.
Her new and old music is streaming in the millions, and a film based on her tour has grossed over $200 million globally. Furthermore, her appearance at a football game, where her rumored boyfriend Travis Kelce played, reportedly boosted NFL ratings and jersey sales.
Interactive Brokers’ chief strategist Steve Sosnick shared with Fortune his experience of Swift’s name coming up in a dinner conversation, emphasizing her status as an economic force. He likens her impact to that of the Beatles, suggesting that Swift’s influence might be comparable to Beatlemania.
2023 has been particularly significant for Swift, as per Fortune’s report. Bloomberg Economics estimates that Swift, along with Beyoncé’s tour and the “Barbenheimer” films, may have contributed up to $8.5 billion to US growth in the third quarter. The Federal Reserve Bank of Philadelphia has apparently even mentioned her in its June Beige Book, noting her role in spurring economic growth in Philadelphia.
Fortune also mentions that Bloomberg now estimates Swift’s stardom has catapulted her into the billionaire ranks. Thomas Simons from Jefferies linked the end of Swift’s concert tour to a potential settling of inflation rates, suggesting her influence on broader economic trends.
Vincent Deluard from StoneX, as reported by Fortune, observes a “post-Swift hangover” in the US economy, with slowing credit-card spending and negative company earnings guidance. His report, intriguingly titled “From the Taylor Swift Hangover to QE 2026: a Macro Roadmap,” includes lyrics from Swift’s songs “Dress” and “Death By a Thousand Cuts.”
Near the end of the segment, Kernen jokingly said that shorting Taylor Swift at this time would be like shorting NVIDIA (NASDAQ: NVDA) stock.
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