Quote of the Day
"Attention is the raw material of economic, political, and military action. But speculation is what operationalizes that attention: the bets people place (emotionally, politically, financially) on what narrative will become real."
(Kyla Scanlon)
Rates
- Muni bonds are underperforming in 2025. (morningstar.com)
- T-bills are growing a percentage of outstanding U.S. government debt. (wsj.com)
Crypto
- Recent SPAC deals have a decided crypto flavor. (bloomberg.com)
- Please don't use those Bitcoin ATMs, scams abound. (axios.com)
Retail trading
- Supply is coming online to feed the degenerate economy. (howardlindzon.com)
- Demand for private shares is there. Companies are going all out to provide access. (wsj.com)
Finance
- Robin Wigglesworth, "Transparency and trading might eventually come to private credit. But private credit firms are going to fight against it tooth and nail." (ft.com)
- On the prospects for bank consolidation in the U.S. (ft.com)
AI
- Fred Vogelstein, "The market for online tolls is only as big as the AI companies allow it to be." (crazystupidtech.com)
- AI companies won a partial victory when it comes to training on books. (sherwood.news)
- Relying on an AI model that is driven by the whims of its owner is a mistake. (venturebeat.com)
- John Oliver explains how AI slop spreads so quickly on social media. (youtube.com)
CEOs
- Tech leaders view themselves as separate and apart from the rest of the economy. (paulkrugman.substack.com)
- The serial CEO is going out of style. (on.ft.com)
Industry
- There is a surplus of open factory jobs in the U.S. (nytimes.com)
- Meatpacking plants are making changes to attract domestic workers. (wsj.com)
- What domestic textile manufacturers really want from a policy perspective. (nytimes.com)
Earlier on Abnormal Returns
- Personal finance links: breaking the rules. (abnormalreturns.com)
- What you missed in our Tuesday linkfest. (abnormalreturns.com)
- Research links: reducing uncertainty. (abnormalreturns.com)
- Don't miss a thing! Sign up for our daily e-mail newsletter. (abnormalreturns.com)
