Quote of the Day
"When good and honest people can be incentivized into crazy behavior, it’s easy to underestimate the odds of the world going off the rails."
(Morgan Housel)
Chart of the Day

TIPS yields are at their highest level in a decade. (chart via @ycharts)
Markets
- Quality stocks have not been a defense against a bear market. (wsj.com)
- TIPS yields are at their highest level in a decade. (marketwatch.com)
- How rogue waves help explain market disasters. (bestinterest.blog)
Strategy
- The bear case is obvious. What's the bull case? (theirrelevantinvestor.com)
- Why you should be happier investing today than a year ago. (marketwatch.com)
- You need to keep your head to get to the other side of the bear market intact. (thereformedbroker.com)
Companies
- Apple ($AAPL) is getting the better of its deal with Goldman Sachs ($GS). (axios.com)
- Companies are rebuilding their systems to be more resistant to cyberattacks. (wsj.com)
Policy
- The U.S. is unique in not mandating paid sick time off. (axios.com)
- Why you should be skeptical of consumer surveys in general. (ritholtz.com)
- More jobs are age-friendly, but have not benefited greatly. (papers.ssrn.com)
- Congress just keeps getting older. (flowingdata.com)
Economy
- A soft landing is not an impossibility. (wsj.com)
- But the Fed is increasingly at-risk of breaking something. (kyla.substack.com)
- Why the starter home has largely disappeared. (nytimes.com)
- The economic schedule for the coming week. (calculatedriskblog.com)
Earlier on Abnormal Returns
- Top clicks this week on the site. (abnormalreturns.com)
- What you missed in our Saturday linkfest. (abnormalreturns.com)
- A home is a bundle of things, not just a house with a mortgage attached. (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)