Quote of the Day
“We’ve never seen pricing like this ever in the convertible market.”
(Michael Voris, head of convertible bond financing at Goldman Sachs)
Chart of the Day

A large number of U.S. stocks are making 52 week highs AND 52 week lows. (via @sentimentrader)
Markets
- Four parallels between today's market and the late-1990s. (morningstar.com)
- Rising bond yields have pushed 30-year mortgage rates above 3%. (wsj.com)
- The EV space is in retreat. (ft.com)
Strategy
- Only once in the past decade has a correction turned into a full-blown rout. (theirrelevantinvestor.com)
- There are plenty of culprits for the recent sell-off (ritholtz.com)
- Why are people so freaked out? (ofdollarsanddata.com)
Hype machines
- The collectibles market is going to expand to fill all the demand out there. (thereformedbroker.com)
- Leonid Bershidsky, "The crypto world produces, lives, breathes, monetizes hype." (bloomberg.com)
- Why 'merch drops' have taken over brands. (marker.medium.com)
ETFs
- The VanEck Vectors Social Sentiment ETF ($BUZZ) got off to a fast start, volume-wise. (finance.yahoo.com)
- David Nadig talks liquidity with ARK Invest COO Tom Staudt. (etftrends.com)
Economy
- The U.S. economy added 379,000 jobs in February. (calculatedriskblog.com)
- Today's NFP numbers don't tell us much about the future. (nytimes.com)
Earlier on Abnormal Returns
- Podcast links: talking SPAC. (abnormalreturns.com)
- What you missed in our Thursday linkfest. (abnormalreturns.com)
- Longform links: a natural calamity. (abnormalreturns.com)
- March ESG links: sustainable momentum. (abnormalreturns.com)
- Are you a financial adviser looking for some out-of-the-box thinking? Then check out our weekly e-mail newsletter. (newsletter.abnormalreturns.com)