Toby Nangle

This is a good thread! Every week someone reads out a London Centric story on TikTok without credit and does big views. This isn’t a wah wah moan… more that when a big news outlet steals, they know what they’re doing. I think a lot of content creators sincerely think “reading words” *is* reporting?

Tech elites are starting their own for-profit cities They want to escape from regulation and ‘failing’ democracy — but are they more opportunistic than libertarian?

I would say this because I edited it but @mshannahmurphy.bsky.social's piece on tech bros founding their own for-profit cities really is unmissable reading www.ft.com/content/b127...

What if OpenAI is worth more dead than alive? Plus: data centre risks, fish science, mince pies, and an unwelcome sighting of Modern Monetary Theory

Here's this week's Substack wrap. It has links to all the FTAV posts you may have missed, as well as a bunch of other stuff.

substack.com/home/post/p-...

Are Warner takeovers the harbingers of financial apocalypse? We don’t know

Following grizzled markets veteran @mpaulmcnamara.bsky.social's observation earlier today on this platform, we took a look.
www.ft.com/content/c403...

Buying Time Warner is now an official point in every bubble

Come for the chart showing pension funds have been selling UK equities *again*.

Stay for the interactive dataviz showing the demography of private UK DB schemes

www.ft.com/content/2f2f...

TIL that @timleunig.bsky.social — as economic adviser to ChX during COVID — advocated for blanket purchase of Netflix for British households to make lockdown more bearable.

Labour bearing down on immigration will fix this any day now.

Thanks Chris - had somehow missed this excellent piece by @jdportes.bsky.social which I will bookmark.

"You can create money out of nothing, but you can’t create doctors, schools, or consumer goods." Nail. Head.

How to slash government debt-to-GDP A cunning plan we don’t recommend

Sort of done this here? www.ft.com/content/b117...

Donald Trump says claim of US affordability crisis is a ‘hoax’ President insists prices have come down despite voter frustration over high cost of living

Miran to the BLS in January? www.ft.com/content/1b46...

Bond boot camp is the Hotel California of our time.

Losing 96 per cent of your money was *checks notes* good? A pyrrhic defeat

Remember that Austrian 0% coupon century bond? Turns out it was *checks notes* a good trade?!? www.ft.com/content/d2d4...

Bonds vs budgets

👂🏼 POD TIME 👂🏼

me and @iankmsmith.ft.com on the UK Budget where everyone is like
🙄😠😜😱
except the market, which is like
😐😐🙂🙂
And why keeping markets sweet matters whether you like it or not

open.spotify.com/episode/4c8g...

Cyber Monday?

Free @bryce.lol writing unavailable on other platforms + a round up of all the @alphaville.ft.com posts for the week not enough?

FTAV Substack also grabs top charts made by MainFT. This one shows LLMs have just overtaken humans in web content volume.
open.substack.com/pub/ftav/p/p...

Issued at 65, traded up (or at least quoted) briefly above par.

Am a big @aiannucci.bsky.social fan. But don’t let this episode put you off bond markets!!

Here’s @alphaville.ft.com’s bond mkt 101, incl an animated roller-skating bond chimp on.ft.com/48EO8gq

Would be interesting to know whether stripped 0.85% 2120 has trading volume. When I looked at QR on BBG I could find plenty of quotes but no hint of actual trades.

How to slash government debt-to-GDP A cunning plan we don’t recommend

Was going to explore how much debt/GDP could be cut by going this route along the lines outlined in the attached post, but decided the thing was long enough already www.ft.com/content/b117...

Different bond. Compare to XS2187711572

This sort of thing, a pot of which lasts me months: www.fortnumandmason.com/fortnum-s-fi...

I'm not as old as your dad, and found present buying for elder relatives infuriating as they tended to say 'oh, nothing'. But have found the older I get the more it's just nice to see people and I don't want stuff. So now tend to default to asking for small things I can eat but would never buy.

I have it maturing on 10-Jun-2120, which is 20 days before the 0.85% 2120 matures. I don't have a BBG in front of me and am happy to be corrected.

The post should NOT be sitting behind a paywall (though does sit behind a free Regwall, which I'd hope all good FinSky types would live behind).

Issued at 65, traded up through par, now below 3c:

Yeahbut 'traded' through par at one point...

Nope. Take a look at the post for charts aplenty. Like all Alphaville posts it's free (though may require registration).

It's a guaranteed forty-bagger!

Almost total bondholder wipeout Austrian centurions: from hero to (almost) zero

Non-defaulted govt bond trades at 2.65 cents on the euro.
on.ft.com/3M5Yux0