Bancroft Sutherland

Seems like everyone’s just about ready to rotate back to public credit?

Finally someone addressing the problematic lack of supply in the high yield market.

With half a percent to spare

Add that he’d be beloved by boomers, and that he and Martha Stewart would be a duo but only one of them would have done a stretch in federal prison.

New YTD low on the 10yr

I want to know if there is any correlation between the timing of interesting live Olympic events and periods of stock market drift

If you exclude ages 0-18, people get shorter as they grow up

FTC Warns Apple of Potential Federal Law Violation Regarding Apple News The letter from FTC Chairman Andrew Ferguson cited reports that Apple News promoted news articles from left-wing news outlets and suppressed news articles from more conservative publications.

They're calling it the dumbest catalyst for a $200 billion market cap move of all time.

$IGV awfully close to last Thursday's close low.

Silver intraday price chart

Seems generally not great when metals can move 7% in minutes out of nowhere.

One thing to watch is recent attribution - particularly w/in small cap, the miners have had a meaningful impact. Which has been great, but can obviously cut both ways.

A couple intl small cap value ETFs up 70% since start of ‘25. Been a pretty wild rotation that’s worked very well.

DMexUS up 9% and EM up 12.5%. S&P500 up 1.50%.

Staying OW exUS has been a very good allocation decision.

Bondi Spars With Lawmakers on Epstein, Targeting Trump Foes

It is as if they administered some sort of bastardized Meyers-Briggs personality test to potential cabinet picks, specifically screening for elite petulance.

www.bloomberg.com/news/article...

A NGHT WITH THE BUCCO'S Why the apostrophe? No one knows.

Figured this could not be a one-off and was not disappointed. They are like IRL Cameo, with choice of appetizer and entree.

What do we want? Hi-res gifs
When do we want it? ~ 2019

particularly since the reporting on and conclusions drawn from surveys/polling rarely acknowledges that anything has changed

My guess is that within two years he will once again pivot, abandoning the moon gambit while announcing plans for a base in the Mariana Trench. He’ll say we know less about the ocean deep than we do about the moon, paired with BS about minerals needed to power AI and robots, etc.

Every one of these hearings is the same bit, just shamelessness paired with incompetence. An administration-wide case of inverse imposter syndrome.

Suppose anything is possible at this point, but going from a forward P/S above 8x to a value trap in under a month would really be something.

15-day chart of IGV, the tech-software ETF, which after a three day bounce has rolled over again.

I am not a technical analyst, but with $IGV now back to only 3% above its closing low, assume there are some pretty interesting things in play on that front with many of the underlying holdings.

Excuse me while I rip up my kid’s “To one of my best friends in the whole wide world” valentines cards and make some new ones to hand out to the class.

I’d argue this is a much more relevant format for interpreting this data set than a simple chart of the rolling cumulative change of components dating back to the start of last year. Which has appeared elsewhere on the feed this morning.

*country, obviously

Baffling it’s taken them this long to figure that out, so we’ll see if it sticks.

They always say they want to run the company like a business, and the number one rule of issuing corporate guidance is to lowball the analysts.

Friendly reminder that the birth-death adjustment refers to businesses. Not humans.

Trump Privately Weighs Quitting USMCA Trade Pact He Negotiated President Donald Trump is privately musing about exiting the North American trade pact, people familiar with the matter said, injecting further uncertainty about the deal’s future into pivotal renegot...

He’s never really struck me as one to muse, let alone in private, tbh.

“President Donald Trump is privately musing about exiting the North American trade pact, people familiar with the matter said, injecting further uncertainty about the deal’s future into pivotal renegotiations.”

Steel, railroads, now moving pictures. Real throwback activist outfit.

They need to combine ski jumping with biathlon - hit some targets while airborne.