Quote of the Day
"When you stumble across a forecast that turned out to be more or less correct, it usually means nothing happened, and the extrapolation proved to be randomly correct."
(Barry Ritholtz)
Chart of the Day
The 2-year Treasury yield has been above the Fed funds rate for most of 2026.
Markets
- Utility stocks have rolled over. (bloomberg.com)
- Why diesel prices are so high. (mrzepczynski.blogspot.com)
Prediction markets
- Crypto traders have shifted attention to prediction markets. (wsj.com)
- Lebron James is now a Polymarket endorser. (frontofficesports.com)
Law and order
- The IRS cut audit personnel. Guess what happened next? (npr.org)
- The FBI has lowered its standards for new agents. (futurism.com)
- Florida has accelerated the pace of executions. (axios.com)
Economics
- All economies are mixed. The only question is what mix. (unherd.com)
- Why the definition of a small business matters. (boondoggle.substack.com)
- On the relationship between reading and the prospects for liberal democracy. (theargumentmag.com)
Stay in touch
- Don't miss a thing! Sign up for our daily e-mail newsletter. (abnormalreturns.com)
- Work in wealth management? Sign up for our exclusive Talking Wealth newsletter. (talkingwealthpod.com)
Economy
- The risks for higher inflation are out there. (apollo.com)
- Wage increases are decelerating. (washingtonpost.com)
- The economic schedule for the coming week. (economicweekly.substack.com)
Earlier on Abnormal Returns
- Top clicks this week on Abnormal Returns. (abnormalreturns.com)
- What you missed in our Saturday linkfest. (abnormalreturns.com)
- On the high cost of adulting in America today. (abnormalreturns.com)
