@joecarlsonshow I don't think it's so black and white. There are genuine concerns that the profits required to justify the spending is too high, particularly the frontier labs.
Nothing from @moving_charlie about how the Tories first home inheritance tax policy will stop older people downsizing and will distort the market at the top end. Or did I miss it?
@PeterBerezinBCA They are a good hedge under certain circumstances but not in an inflationary environment. If there's a deflationary recession the correlation will return.
@moving_charlie As you said - a global response in yields to Iran war inflation, hawkish comments made by Warsh, competition for debt from the AI buildout and rising yields in Japan. The "moron premium" compared to other countries has been the same since Truss. Burnham less influential.