My mid-week morning
the train WFH reads:
• Snowfall threatens to uproot 76 million American lives Disappearing snowpack is fueling a historic drought across the western United States, and so far the government’s response has not matched the scale of the problem. (Bloomberg)
• Is the US economy in recession? Here are eight offbeat indicators to watch: From burning bubbles to buying underwear, scholars look at alternative ways to measure sentiment. (Bloomberg) see more Gas prices fell for 49 straight days, $4 a gallon U.S. fuel prices fall after hitting record highs in June (Wall Street Journal)
• Admission price: Low 5% months do not occur very often but they are not completely out of the ordinary. Over the past 96 years, on average, the stock market is up 5% or worse in about a month once a year. (Common Knowledge Resources)
• Unlike George: If every instinct you have is wrong, the opposite must be right. (Al Hambra Investments)
• Yes, you can short a startup: With synthetic derivatives, hedge funds can bet against a startup’s price and VCs can de-risk an aging portfolio (protocol).
• America’s much-vaunted, legendary CBDC: As investors grapple with the so-called crypto winter, many are looking to central bank digital currencies as a possible solution. If only it were that easy! (Institutional Investor)
• How Modern’s Covid Vaccine Boosted Boston’s Real-Estate Market The company’s hiring spree and soaring stocks during the pandemic led to an uptick in employee purchases of luxury homes. (Wall Street Journal)
• If humans are the most intelligent animals, why are we so unhappy? New Books on Intelligence, Medicinal Cocktails, Galactic History, and More (Scientific American)
• 9 ways the Jan. 6 hearings are impacting, from deflating Trump to crushing Merrick Garland: The committee is starting to disrupt the political landscape, a grid analysis suggests. And it’s not over: More hearings are planned for September. (grid)
• According to the data, it is the most Midwestern thing in the world We looked at hundreds of thousands of Airbnb listings to calculate how Heartland describes itself. (Washington Post)
Be sure to check out our Masters in Business interview this weekend with Hannah Elliott, who covers all things automotive for Bloomberg. We discuss today’s wild car market, motorcycles going electric, LA car culture, vehicles competing with Tesla and his favorite hypercars, and why you should take the $10,000 Ferrari track course.
Chaos in the bond market is a dangerous side effect of fighting inflation
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