Alternative Investing Report - March 9, 2026

*as of 3/8, Sources: S&P, BTC, FTSE, DJRE, GOLD

London’s spring art week was capped by successful showings at the marquee sales at both Sotheby’s and Christie’s, with more than $440 million in sales between the two. Sotheby’s Modern & Contemporary Evening Sale had a 100% sell-through rate — a “white-glove” result — and generated $176 million, at the high end of pre-sale estimates. It was led by a 1972 self-portrait by Francis Bacon that sold for $21.3 million after last selling for around $440,000 in 1994. A day later, Christie’s 20th/21st century Evening Sale brought in $265 million, a 52% increase over the same sale last year.

➨ TAKEAWAY: After a strong close to 2025 in New York, this was a major test for the art market, and it met expectations. The sales were held in the shadow of the developing conflict in Iran, which did not seem to affect the results, but does raise a concern about investors and collectors reining in spending in the short-term. New York’s spring art week will be the next big milestone for the industry when it kicks off in mid-May.

In the newest episode of Smart Humans, Slava Rubin talks with Tether co-founder Reeve Collins about the evolution of stablecoins and their role in the future of finance.

📉 Unemployment rate rises: The U.S. economy lost 92,000 jobs in February, the sixth time since the beginning of 2025 that there was a decline in nonfarm payrolls after three straight years of gains. These results followed an unexpectedly strong January jobs report and raised further concern about the labor market and the state of the U.S. economy.

📊 Retail sales fall: Another concern for the economy was the 0.2% decline in U.S. retail sales in January, also below expectations. The report was delayed by the government shutdown, and the February results now take on greater importance when they are released later this month.

🚀 Space fundraises: Sierra Space raised a $550 million funding round at a valuation of $8 billion, a 50% gain over its $5.3 billion valuation in 2023. Meanwhile, Spanish startup PLD Space raised $209 million at an undisclosed valuation as the sector continues to attract investor capital.

🏡 Homebuying demand edges up: Redfin’s Homebuyer Demand Index is up 3% in the last month, though it is down 14% year-over-year. Additionally, mortgage purchase applications are up 10% annually as rates have gone down, Google searches of “homes for sale” are at their highest level since last July, and touring activity is up 15% from the start of the year.

🪙 Large Bitcoin holders selling: So-called crypto “whales” bought Bitcoin in significant numbers when it fell to $62,000, but then sold two thirds of what they had bought when it jumped up to $74,000. This behavior could be a warning sign for investors as the pattern is often followed by another dip in price.

🤖 Netflix buys AI company: The streaming giant is acquiring InterPositive, an AI filmmaking startup founded by actor Ben Affleck that aims to use AI to improve film production without replacing any creative elements.

This week: The late Indianapolis Colts owner Jim Irsay’s legendary collection goes to auction at Christie’s, with events on Thursday, Friday, and Saturday. The highest pre-sale estimate belongs to a guitar used by Kurt Cobain in the video for Nirvana’s 1991 song “Smells Like Teen Spirit.”

Tuesday: NFIB small business optimism index; existing home sales report released.

Wednesday: Consumer price index (CPI) inflation report released.

Thursday: Housing starts and building permits reports released.

Friday: Personal Consumption Expenditures (PCE) and Core PCE indices, the Fed’s preferred inflation metrics, will be released.

Sunday: The 98th Academy Awards will begin at 7 PM ET, with “One Battle After Another” the favorite to win Best Picture.