Bonds are new stocks. Where to find the best yields. Tina is dead. He was killed in this year’s bond carnage, a victim of the Federal Reserve’s late lifting of short-term interest rates from near zero. But his passing presents opportunities that many of this generation of investors haven’t seen (Baron’s) see more Goodbye, Tina: For years, we’ve been hearing that there is “no alternative” – ​​TINA – to equity, and thanks to the Fed, “cash is junk.” No more. The Federal Reserve, in a belated attempt to fight inflation, cranked rates to where, today, there is an alternative to stocks: bonds. (large image)

California is poised to overtake Germany as the world’s No. 4 economy: Contrary to popular belief, the Golden State has proven resilient, outperforming its US and global peers. (Bloomberg)

Buying a home gets easier in a cooling market – for those who can afford it: Higher mortgage rates mean fewer bidding wars. They are also pricing out many would-be buyers. (Wall Street Journal) see more Tenants hit breaking point in sudden reversal for landlords: Affordability pressures and inflation are holding back renters, forcing landlords to ease big increases. (Bloomberg)

How organizations benchmark games: Richard Ennis argues that allocators are choosing a low bar to evaluate their performance, a practice that ultimately keeps active managers in the business. (Institutional Investor)

High interest rates can take a long time to reduce inflation: The gap between rate hikes and real-world impacts raises the risk of the pair tightening too much and too little. (Wall Street Journal) See too How front-loading rates increase the risk of financial volatility: Inflation needs to rise faster, which intensifies the threat of a large financial crash that could have bad economic spillovers. (Bloomberg)

The financial infrastructure industry needs a new playbook Five Big Uncertain Clouds on the Horizon for the Infrastructure Sector of Financial Markets: Less Regulatory Tailwinds; lack of measurable new products; slow capital market growth; Democratization of data and a difficult M&A environment. The golden age is over. (Financial Times)

Trump’s US court has declared an entire federal agency unconstitutional: The Fifth Circuit’s opinion in Community Financial v. CFPB is completely inconsistent. (Vox) see more ‘Elector-denial trifecta’: Concerns over pro-Trump efforts to win key positions: Republican contenders for secretary of state, attorney general and governor have loudly echoed Trump’s false claims of election fraud. (parent)

Kroger-Albertson’s Smash & Grab: The Kroger-Albertson supermarket deal is uglier than you might expect. A $4 billion “special cash category” may be intended to get closer to antitrust enforcers. (Big Stalker)

Russia is destroying Ukraine’s infrastructure and the consequences are dire: Moscow’s next target could be a massive dam in Kherson. (Vox) see more Russian oligarchs are dying in suspicious ways. Wikipedia maintains a list. An anonymous Wikipedia editor started the Wikipedia article 2022 Russian Mystery Deaths, which is “Unusual deaths of Russian-connected businessmen that some sources believe occurred under suspicious circumstances.” When the article was first published, it listed only 9 Russian oligarchs Today, it details 17 deaths and has been viewed over 400,000 times (slate)

Comedy Wildlife Photo Finalist – In Pictures: From smiling triggerfish to waving raccoons, the shortlisted images for the 2022 Comedy Wildlife Photo Awards have been announced. Culled from thousands of entries submitted by professional and amateur photographers from around the world, we’re presented with a wonderful mix of hilarious wildlife. Winners will be announced on December 8 (The Guardian)

Be sure to check out our Masters in Business interview with Marta Norton, Chief Investment Officer of Morningstar Investment Management, this weekend. The firm directly manages or advises $249.4B in client funds. He began his career as a BLS economist and, prior to his current role, was head of US results-based strategies for Morningstar.

Google reports earnings today: How its revenue and profit break down

Source: Visual Capitalist

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