Quote of the Day
"Whether we get inflation or not, there are going to be all sorts of complex products and funds rolled out to take advantage of the fact that people are now worried about this risk."
(Ben Carlson)
Chart of the Day

It increasingly seems like the bottom is in for mortgage rates. (chart via Freddie Mac)
Markets
- Penny stock volume is off the charts. (sentimentrader.com)
- You never really know if the markets are at some inflection point. (rivershedge.blogspot.com)
Technology
- Why Amazon ($AMZN) won't let libraries lend e-books it has published. (washingtonpost.com)
- Today's laptops weren't necessarily built for long term WFH. (wsj.com)
- At-home data volume soared in 2020. (visualcapitalist.com)
Supply chain
- Supply chain issues are coming for your favorite cheeses. (cnn.com)
- Good luck trying to buy furniture these days. (washingtonpost.com)
- Why the U.S. is short semiconductor manufacturing capacity. (theconversation.com)
SPACs
- How retail investors got hooked on SPACs. (bloomberg.com)
- The SPAC boom doesn't happen without the support of hedge funds. (ft.com)
Fund management
- Another value shop is closing its doors. (citywireusa.com)
- Don't be surprised if the SEC begins to more closely regulate index providers. (etfaction.com)
Global
- Coupang ($CPNG), the Amazon of South Korea, is now public. (axios.com)
- Mexico is on the cusp of legalizing marijuana. (nytimes.com)
- Why Canada is lagging the U.S. in vaccinations. (washingtonpost.com)
Economy
- Initial weekly unemployment claims continue to trend lower. (bonddad.blogspot.com)
- Americans extracted home equity in 2020 at a rate not seen since 2007. (wsj.com)
- This adjustment makes the rise 5-year Treasury yields less impressive. (econbrowser.com)
- Personal experience greatly affects how we think about inflation. (klementoninvesting.substack.com)
Earlier on Abnormal Returns
- Longform links: the microwave economy. (abnormalreturns.com)
- Nobody wants your digital sh*t, either. (abnormalreturns.com)
- What you missed in our Wednesday linkfest. (abnormalreturns.com)
- Personal finance links: fighting lifestyle creep. (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)