Shye Link

[Shye Link @LinkShye]

Hey @elonmusk if you made your own F1 team I believe it could be the best, just an idea…🏎️

[Netflix @netflix]

Like for Jake Paul. RT for Mike Tyson.
#PaulTyson

[Ben Shapiro @benshapiro]

The greatest political story in history.

[Elon Musk @elonmusk]

America is a nation of builders
Soon, you will be free to build

[Elon Musk @elonmusk]

🇺🇸🇺🇸The future is gonna be so 🔥 🇺🇸🇺🇸

[Shye Link @LinkShye]

@elonmusk

[Elon Musk @elonmusk]

SpaceX has moved its state of incorporation from Delaware to Texas!

If your company is still incorporated in Delaware, I recommend moving to another state as soon as possible.

[Elon Musk @elonmusk]

Almost no one seems to be aware of the immense size and lightning growth of this issue.

According to the mayors, it is already overwhelming essential services in New York, Chicago and other cities.

[Andrew Tate @Cobratate]

Don’t be impressed by the club turnout.

The truly beautiful girls, where it counts anyway, are at home.

[Bill Ackman @BillAckman]

They are not just anti-Israel protests.

They are anti-American protests.

[Bill Ackman @BillAckman]

I believe that long-term rates, e.g, 30-year rates, will rise further from here. As such, we remain short bonds through the ownership of swaptions.

The world is a structurally different place than it was. The peace dividend is no more. The long-term deflationary effects of outsourcing production to China are no more. Workers and unions’ bargaining power continues to rise. Strikes abound, with more likely to come as successful walkouts achieve substantial wage gains.

Energy prices are rising rapidly. Not refilling the SPR was a misguided and dangerous mistake. Our strategic assets should never be used to achieve short-term political objectives. Now we must refill the SPR while OPEC and Russia cut production.

The green energy transition is and will remain incalculably expensive. And higher gas prices will raise inflationary expectations. Just ask your average American. They see the prices at the pump and in the grocery store and don’t believe inflation is moderating.

Our national debt is $33 trillion and rising rapidly. There is no sign of fiscal discipline by either party or by the presumptive presidential nominees. And each debt ceiling is an opportunity for our divided government and its most extreme actors to get media attention, and for our nation to threaten default. This is not a good way to recruit the many new buyers we need for our bonds.

The government is selling hundreds of billions of bills, notes and bonds weekly. China and other foreign nations, historically major buyers of our debt, are now selling. And the QT unwind experiment has barely begun. Imagine trying to do a massive IPO where the underwriter, insiders and short sellers are all selling at once, competing to hit every bid on the way down while the analysts downgrade their ratings to ‘Sell.’

Our economy is outperforming expectations. Major infrastructure spending is beginning to contribute to economic growth and the supply of additional debt. Recession predictions have been pushed out beyond 2024.

The long-term inflation rate is not going back to 2% no matter how many times Chairman Powell reiterates it as his target. It was arbitrarily set at 2% after the financial crisis in a world very different from the one we live in now.

I bumped into the CIO of one of the world’s largest fixed income asset managers the other night and asked him how it was going. He looked like he had had a tough day. He greeted me by saying: ‘There are just too many bonds’ — a veritable tsunami of new issuance each week. I asked him what he was going to do about it. He said: ‘The only thing you can do is step away.’

I have been surprised at how low long-term rates are. I think the best explanation is that bond investors thought of 4% as a high rate of interest because rates hadn’t breached 4% for nearly 15 years. When investors saw the ‘opportunity’ to lock in 4% for 30 years, they grabbed it as a ‘once-in-their-career opportunity,’ but today’s world is very different from the one they have experienced up until now.

The long-term inflation rate plus the real rate of interest plus term premium suggests that 5.5% is an appropriate yield for 30-year Treasurys. And query whether 0.5% is a sufficient real long term rate in an increasingly risky world.

And the technicals could cause yields to go even higher, particularly in the short term. We saw the beginnings of that today.

It wasn’t that long ago that a previous generation thought five percent was a low rate of interest for a long-term, fixed-rate obligation.

But I could be wrong. AI might save us.

[Sid Salter @sidsalter]

Mourning my friend and MSU classmate Johnie Cooks from Leland. He was a bad man on the gridiron, but a kind, generous soul off the field. I loved his smile and will miss his abiding friendship. Johnie fought the good fight all his life. God bless him and God bless his family.

[Elon Musk @elonmusk]

Must confess to a deep love of fashion & architecture

[Benny Johnson @bennyjohnson]

This is the most important 90 seconds in any interview ever.

God bless @elonmusk

[Shye Link @LinkShye]

Our generation got to go to WW2 museums while people who fought and experienced the War were still here. #WW2

[Genevieve Roch-Decter, CFA @GRDecter]

2022 is the worst year ever for stocks and bonds since 1871

[Elon Musk @elonmusk]

New Twitter policy is to follow the science, which necessarily includes reasoned questioning of the science

[Mississippi State Football @HailStateFB]

MSU Bulldog family, college football community mourns the death of Coach Mike Leach

https://t.co/LzWyLyX3xM

[Shye Link @LinkShye]

Just getting on twitter to show my support for @elonmusk