Hello everyone! A year on from Liberation Day, this video explaining why "reciprocal" tariffs were nonsense has been nominated for a Webby. Please vote for it!
QQQ/TLT is the cleanest chart of the post-ChatGPT regime: long tech / short duration.
Despite the latest selloff, the ratio remains within its ~4-year rising channel and well above the major 2025–26 drawdown lows.
Violent correction ≠ regime change. Yet.
ht: BBG via @johnauthers
The gap between returns on the S&P 500's equal-weight and market cap-weight versions was the widest in October for any month since April 2009, as @johnauthers notes in his latest column. https://t.co/aAgQ9xX1xq
John Authers reviewed Surplus in his Bloomberg @opinion column today. Trees/forest: surplus is the key challenge at the forest level, even if some trees lack water or food.
https://t.co/gvCIzk2MxQ
You really can have too much of a good thing, writes @johnauthers. Why a restless excess of capital is the root cause of our economic problems https://t.co/YaTZAs55b6
The size of IPOs reaches new heights in 2026 w/ the proposed Anthropic IPO. In 1999, the average IPO was $128 million. The median was $61.6 million. 1999's largest deal was $UPS at $5.47 billion. Anthropic proposes to raise $75 billion or more. Chart courtesy of @johnauthers
France is in a financial crisis as well as one on the streets, writes @johnauthers. And 'whatever it takes' won't be good enough https://t.co/qCUNcsIVwt via @opinion
One hard truth from France’s unrest is that the country just doesn’t matter to the world economy as much as it used to, John Authers writes https://t.co/GgqTM2oEC1 via @opinion
For an roadmap to the market opportunities after this year’s US midterms, writes John Authers, take a look at what happened in 2018 https://t.co/aGTEmSVJRz
Those surging mortgage rates are reflected in the declining number of home sales under contract. The data on housing permits for new builds is showing a less precipitous decline. Charts courtesy of @johnauthers
@walter254walter@Blue_Footy Um, beating Arsenal 3-0 (and Villa 4-0), and knocking Man U out of the League Cup at Old Trafford didn't suggest they might not just be good against smaller teams?
CoreWeave’s credit and business model deserve cold-eyed scrutiny, @johnauthers writes. But this panic looks more like 2023 than 2007 https://t.co/VgBB6KyiOD