Quote of the Day
"What makes the 40% forecast so useful is you appear to be correct regardless of which outcome occurs."
(Barry Ritholtz)
Chart of the Day
How bad is the bond market drawdown? This bad. (via @charliebilelllo)
Markets
- The S&P 500 was down 4.77% in September 2023. (on.spdji.com)
- There's no shortage of stuff to be worried about at the moment. (tker.co)
Rates
- The yield curve is finally steepening. (awealthofcommonsense.com)
- Higher interest rates mean higher taxes. (marketwatch.com)
- Closed-end muni funds are trading at big discounts to NAV. (marketwatch.com)
Finance
- Do you really want a private investment targeted to individual investors? (humbledollar.com)
- Private equity looks less attractive to pension fund in the age of 2%+ real yields. (wsj.com)
ETFs
- Investors are pouring money into covered-call funds. (morningstar.com)
- Vanguard is set to pass Blackrock ($BLK) in U.S. ETF AUM. (citywire.com)
- Bond ETF returns are all in the details. (morningstar.com)
PEPFAR
- PEPFAR is arguably the most successful government program in history. Then why is it at risk? (bloomberg.com)
- Why have Republicans turned on PEPFAR? (theatlantic.com)
Policy
- Per the IRS, nearly 1,000 tax filers who earn more than $1 million per year have still not filed federal tax returns for at least one year from 2017 to 2020. (washingtonpost.com)
- Marcela Valdes, "Unauthorized immigration, for all the obstacles America throws at it, remains a boon for countless U.S. employers and a reasonable bet for migrants who seek a better life." (nytimes.com)
- Permitting reform should be a bipartistan issue. (progress.institute)
- The only answer to housing shortages is more housing. (ft.com)
- Why infrastructure costs vary across state lines. (marginalrevolution.com)
- Should the state promote marriage? (economist.com)
Economy
- Q3 GDP tracking around 3%. (calculatedriskblog.com)
- How good are economists at forecasting recessions? (stlouisfed.org)
- The economic schedule for the coming week. (calculatedriskblog.com)
Earlier on Abnormal Returns
- Top clicks last week on the site. (abnormalreturns.com)
- What you missed in our Saturday linkfest. (abnormalreturns.com)
- Netflix's DVD-by-mail business is winding up. (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)
