Quote of the Day
"The Fed’s job - and it’s an important one - is to run a psychological operation on the economy to make sure that people and markets are pricing in what they want them to price in."
(Kyla Scanlon)
Chart of the Day

Investors are pouring money into short term bond ETFs. (chart via @ycharts)
Markets
- The stock market is getting oversold. (quantifiableedges.com)
- Small caps are still outperforming. (wsj.com)
Finance
- The SEC is charging an insider trading case using 10b5-1 plans. (wsj.com)
- Now you can bet on Jim Cramer's stock picks via these new ETFs. (advisorperspectives.com)
Global
- A year later some companies are stuck in Russia. (nytimes.com)
- Russia is going to great lengths to avoid sanctions. (economist.com)
- How Ukrainians are dealing with power outages. (washingtonpost.com)
- Belarus' tech workers have fled elsewhere. (restofworld.org)
- How Poland is handing the influx of Ukrainian refugees. (theconversation.com)
Economy
- Still no sign of a pick up in weekly initial unemployment claims. (bonddad.blogspot.com)
- Apartment rents are set to start falling later in 2023. (calculatedrisk.substack.com)
- Why rents rose (and fell) post-pandemic. (ritholtz.com)
- Seasonal economic adjustments will never be perfect. (econbrowser.com)
Earlier on Abnormal Returns
- Longform links: the mental health crisis. (abnormalreturns.com)
- What you missed in our Wednesday linkfest. (abnormalreturns.com)
- Personal finance links: generational wealth. (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)