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Good morning. We want to give a warm welcome to the talented Matty Merritt, the newest member of the Brew’s writing team. Not sure why we collectively decided on the Ides of March as a start date, but it’s time to rebrand that holiday into something a little more festive anyway.

MARKETS YTD PERFORMANCE NASDAQ 13,319.86 + 3.35% S&P 3,943.34 + 4.99% DOW 32,778.64 + 7.10% GOLD 1,725.80 - 9.24% 10-YR 1.629% + 71.00 bps OIL 65.56 + 35.40% *As of market close. Here's what these numbers mean. Markets: Energy has recently replaced tech as the mitochondria of the S&P 500. The sector has gained 80% since early November, fueled by a rebound in the price of crude oil. Covid: Yesterday, the Biden administration reported that 27% of US adults had their first vaccine shot and 15% are fully vaccinated. Some all-star states, including Alaska, Massachusetts, and the Dakotas, have given first shots to > 25% of their populations.

INVESTING Too Many Crazes to Count Know Your Meme You've probably been hearing the words "mania" or "craze" a lot recently when reading about the markets.  Sorry—just doing our jobs. As Erin Griffith wrote in the NYT this weekend, investments in nontraditional corners of the finance industry all seem to be doing this at the very same time.  A short list Crypto: Last March, bitcoin was hovering just above $5,000; on Saturday, it hit an all-time high above $61,000. And dogecoin, a crypto that’s based on a meme, has increased more than 1,100% this year.  NFTs: Non-fungible tokens leverage blockchain technology to let anyone buy an "original copy" of a piece of the internet. Last week, a JPG file sold for $69.3 million at Christie's and bids for Jack Dorsey's OG tweet hit $2.5 million. Trading cards: Seven of the 10 most expensive sports trading cards in history have been sold in the past eight months, per Axios Sports. In January, someone bought a 1952 Topps Mickey Mantle for $5.2 million, the highest ever. SPACs: The use of special purpose acquisition companies to take startups public has hit astronomical levels. Of the 302 IPOs so far this year, 80% are SPACs. Sneakers: Last May and June, the e-commerce platform StockX had its busiest two months since its 2016 launch thanks to exploding interest in the sneaker resale market. Are they connected?  Griffith thinks so. She argues that the pandemic—which wiped calendars clean, boosted many Americans' savings, and made traditional assets like stocks and bonds unattractive—drove bored people to seek out more stimulating (and speculative) ways of deploying their cash. Plus, it’s not like any of the "crazes" described above are that new. SPACs have been around for decades, sneaker-flipping dates back to 1985, and trading cards, well…you get the point. Even NFTs were being developed as early as 2017. Zoom out: No one knows exactly if/when any of these "mini-bubbles'' will pop but, at least in the SPAC world, some think it might be soon. The amount wagered on SPACs to fall in value has tripled since the start of the year, per the WSJ.

STIMULUS When That Stimmy Hits Giphy Adults across the country broke out a rusty Macarena this weekend after seeing the first round of payments under President Biden's stimulus package land in their bank accounts.  In the coming weeks, the remaining checks, worth up to $1,400/person, will arrive via deposit, check, or debit card. The IRS told H&R Block that most eligible Americans will receive theirs on Wednesday.  Who's eligible? Individuals who earn up to $75,000 and couples who earn $150,000 qualify for full payments. The bill expanded the types of dependents eligible to receive a check to include college students, adults with disabilities, and parents or grandparents.  The bill also phases out more quickly compared to December's round of payments, so individuals who earn $80k+ and couples who earn $160k+ won't get a check. The Institute on Taxation and Economic Policy estimates that 8 million fewer people qualify this time. + If you're eligible, use the IRS's Get My Payment tool to see when your check is coming.

ENTERTAINMENT And the Show Went On Robert Gauthier/LA Times via Getty Images Last night’s 63rd annual Grammy Awards were big for Megan Thee Stallion (best new artist), Billie Eilish (record of the year), and the roughly 60% of the song "WAP" that was allowed to be performed on broadcast television. Plus, history was made: After collecting four new awards for a lifetime total of 28, Beyoncé is now the most decorated artist in Grammy history.  The ceremony also paid tribute to independent music venues hurt by the pandemic, featuring bartenders, box-office managers, and other industry workers from iconic venues like Nashville's Station Inn and NYC's Apollo Theater. Even with vaccines, their situation is grim. The National Independent Venue Association, which has successfully lobbied the federal government for billions in aid, told USA Today, "We were the first to close. We will be the last to open." To make ends meet during the pandemic, some venues have gotten creative, moving performances to outdoor spaces like rooftops, parking lots, and drive-ins. Others have supplemented lost revenue with merchandise sales and online crowdfunding.  Zoom out: The loss of beloved entertainment venues not only hurts owners and workers, but the up-and-coming talent they incubate and the local communities whose economies they support.

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GRAB BAG Key Performance Indicators Prakash Singh/Getty Images Stat: On Friday, TSA screened the most passengers (almost 1.4 million) since March 15 of last year.  Quote: "We're seeing too much spring break activity." Miami Beach Mayor Dan Gelber provided some anecdotal evidence on CNN to back up the stat. Read: How much bitcoin should you own? Here's a mathematical answer. (Kiplinger)

CALENDAR The Week Ahead Scott Olson/Getty Images Fed meeting: On Wednesday, the Fed will release its policy statement and Chair Jerome Powell will take questions following the central bank's two-day meeting. Powell has repeatedly said he's not worried about too-hot economic growth leading to inflation, but the bond market, where yields have been gaining, is sending a different signal. Oscar noms: We'll find out the nominations for the (very delayed) Academy Awards this morning. For best picture, Nomadland, The Trial of the Chicago 7, Promising Young Woman, Minari, and Mank appear to be locks.  March Madness: The first round of the men's NCAA basketball tournament begins on Friday, instead of the typical Thursday (even better excuse to call in sick). The entire tournament is taking place in Indiana this year. Here's the bracket. Everything else: St. Patrick's Day is on Wednesday. As you can see above, Chicago is ready to celebrate. The four-hour "Snyder Cut" of the 2017 film Justice League is coming to HBO Max on Thursday. Saturday marks the official start of spring.

WHAT ELSE IS BREWING The payments company Stripe raised $600 million at a $95 billion valuation. It’s now the most valuable private company ever hatched in Silicon Valley. Apple is discontinuing its original HomePod speaker and will instead focus on the mini version. Italy will put a majority of its residents into hard lockdown today as it battles a third Covid wave. Drew Brees retired as the NFL’s all-time leader in career passing yards. We’re expecting big things in the business world from Brees, who will reportedly head to the broadcast booth for NBC Sports.

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FROM THE CREW GPOAT: Where Things Stand Francis Scialabba The Brew’s Greatest Product of All Time tournament got off to a scintillating start last week. Here’s a quick catch-up. Cinderella story: #14 air fryer toppled #3 TikTok in the Innovators region. Next up? A tussle with the Nike Air Jordan 1 for a spot in the Sweet 16. Most exciting region: The Legends bracket is living up to its name. Second-round matchups include Coke vs. Bud Light, Nintendo 64 vs. the Big Mac, and Boeing 747 vs. Monopoly.  Upset watch: #2 Netflix is going into hostile territory as it takes on #7 Twitter (where the tournament is taking place).  Don’t worry if you missed the action last week. The second round is happening today and you can vote on who should make it into the Sweet 16 on our Twitter account. Polls open at 9am ET.

GAMES Box Office Trivia One movie was re-released in China this weekend, which allowed it to overtake Avengers: Endgame as the highest-grossing film of all time. Which is it?

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ANSWER

Avatar. 

DYK: There are four more Avatar movies in development; the fifth film in the series is scheduled to arrive in theaters Dec. 17, 2027.

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ALSO BORN ON THIS DAY

1767 Andrew Jackson president of United States 1933 Ruth Bader Ginsburg United States jurist 1943 David Cronenberg Canadian film director, screenwriter, and actor 1878 Reza Shah Pahlavi shah of Iran 1813 John Snow British physician 1947 Ry Cooder American musician

SEE ALL BIOS ON THIS DAY

March 15

FEATURED BIOGRAPHY Ruth Bader Ginsburg READ MORE   FEATURED EVENT 44 bce Julius Caesar assassinated on the Ides of March READ MORE

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MORE EVENTS ON THIS DAY 2019: More than 1.5 million students participated in climate change protests around the world as part of Fridays for Future, a movement started by Swedish environmental activist Greta Thunberg. [ What's the difference between global warming and climate change?] 2011: Antigovernment protests were held in several cities across Syria, considered the beginning of the county's civil war. [Sort fact from fiction in our quiz about the Middle East.] 2003: Hu Jintao succeeded Jiang Zemin as the president of China. [ Sort fact from fiction in our China quiz.] 1990: The Congress of People's Deputies of the U.S.S.R. elected Mikhail Gorbachev to the newly created post of president of the Soviet Union. [Watch an overview of Mikhail Gorbachev's life and career.] 1972: The Godfather, an epic drama about organized crime, premiered to universal acclaim; the Academy Award-winning film was directed by Francis Ford Coppola and starred Al Pacino and Marlon Brando. [ Take our Al Pacino quiz.] 1964: Following a highly publicized affair, American actress Elizabeth Taylor wed British actor Richard Burton in Montreal; they divorced in 1974 and briefly remarried (1975–76). [Test your knowledge of A-list actors.] SEE ALL EVENTS ON THIS DAY

Columnists How Many Times Must We Tell You to Never Apologize to These Scumbags? Kurt Schlichter More Crazy Fundraising Emails From the Left Derek Hunter Why the 'Freedom of Conscience' Is Folly and Fallacy Kevin McCullough Fundamentalist Christianity And Fundamentalist Wokeism Are Two Sides Of The Same Coin Scott Morefield Biden versus Trump: the Effectiveness of Their Press Secretaries Jeff Davidson Biden's Mental Decline Is a Democratic Strategy Not a Democratic Problem Drew Allen The Duchess of Woke Jason Garshfield Pelosi’s HR3 Would Have Killed the Coronavirus Vaccine Jared Whitley ADVERTISEMENT INVESTING Government Schools Make Everyone Equally Mediocre Bond Market Rocks The Richter Scale Tipsheet Biden Asks For EEOC Attorney's Resignation. She Refused. Here's What Happened Next. Leah Barkoukis Sen. Cruz Demands Answers Over the Military's Decision to Publicly Chide Tucker Carlson Beth Baumann BREAKING: Biden Finally, Sort of Says Something About Cuomo Rebecca Downs Marines Backpedal After Taking Aim at Fox News Host Tucker Carlson Beth Baumann Axios' Jonathan Swan States (What Should Be) the Obvious: Biden's Silence on Cuomo Is 'Conspicuous' Rebecca Downs 'Jim Crow in a Suit and Tie': Stacey Abrams Sounds Off on the GOP's Desire for Election Integrity Laws Beth Baumann Georgia's Lt. Gov. Claims Trump's 'Strategy Is Unwinnable' Rebecca Downs Even Shifty Schiff Is Calling on New York Gov. Cuomo to Resign Beth Baumann Killjoy Dr. Fauci Takes Aim at Vaccine Skeptics and Biden's 4th of July Predictions Rebecca Downs El Paso Dem Veronica Escobar's Hot Take on the Border Crisis Sure Sounds Different Than Her Previous Comments Beth Baumann ADVERTISEMENT Political Cartoons Bearing Arms San Diego Case Shows How CA Gun Laws Fuel Corruption | Cam Edwards Say What? Attorney Claims Open Carry Is Unconstitutional | Cam Edwards Four Charged In SC "Illegal Drugs And Guns Enterprise" | Tom Knighton No Gun Registry Will Ever Be Beyond Government Overreach | Tom Knighton Vermont Committee Approves Weakened Carry Ban Bill | Cam Edwards