The morning train back to my office read:

A It is the worst bond market since 1842. That is the good news. Bond’s four-decade bull market is over, but that doesn’t mean you should drop them (Wall Street Journal)

A The Fed is playing catch-up for five reasons They have taken a long time to fight inflation. Here are their best excuses. (Complete stack economy) But look Generalization vs. Inflation The lack of a strong financial response since the GFC has made it easier to fight inflation over the past decade. The massive financial response during the epidemic has made the fight against inflation even more difficult. (Larger image)

A Stock market bottom-fishers are trolling risky waters The S&P 500 is down 10% this year, but there is no way to know if this is a good time to buy. (Bloomberg)

A It’s not just Tesla. 8 other stock transports for future play. One might think, from the stock market or Twitter, that Tesla and electrification are the only things that matter in today’s world of transportation. But there is more to the story, including autonomous driving, ride-sharing, robotics and mobility technology, just to name a few notable trends. Also, there are already 300 million vehicles on the road in the United States alone that still need care and repair. (Baron)

A Too rich and too thin? Welcome to Manhattan’s new ‘Skinscraper’ This ‘deposit of unimaginable wealth in the sky’ is also a masterpiece of architecture (Financial Times)

A Steve Cohen’s secret weapon for the Mets: his hedge fund Some employees at billionaire’s firm, Point72 Asset Management, are playing key roles for his baseball team. Many are tasked with analyzing data and improving technology. (Wall Street Journal)

A America is trying to meet the shortage of chips in one factory at a time A billion dollar chip factory has just opened in New York. The Biden administration wants more. (Vox)

A This Chinese EV sells for just 5,000. So we tried The Wuling’s Mini EV, partnered with General Motors, surpasses the Tesla Model 3 in China and costs less than adding CarPlay to Ferrari. (Wire)

A A pulsar is launching a 7-light-year-long antimatter stream into space: What we see here is a ray of pulsar-driven galactic-magnetic-field-centered matter and antimatter extending up to 70 trillion kilometers and it is so large that we could see it with the naked eye – if only our eyes could see X-rays. And that’s just cool. (Sifi Wire)

A Rich Strike’s derby win gave a welcome reboot to horse racing Colt’s jockeys, coaches and owners are nothing more than racing royalties, but they are the necessary story for the sport at the moment. (New York Times)

Be sure to check out our Masters in Business interview this weekend Alex Guerreich Hon Te Advisors, a prudent global macro hedge fund. Previously, Guerwich ran the JP Morgans macro book. In 2020, Hon Te ranked 2nd in net returns, and a top 10 emerging manager. He is its author Next Perfect Trade And most recently, March 2020 Trades.

Bond mutual fund YTD sees – $ 137b outflow, worse than equity MF – $ 88b.

Source: Eric Balchunas

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