I published my last fixed income a la carte. Here the link. https://t.co/lR1QFGgXBE

Everyone is now afraid of AI

A great gift from @JohnHCochrane if you are interested in inflation and macro

How it started: the consensus trade was that one of broadening of the rally (geographically but also sectorial), calling it a rotation. Now also the AI DISRUPTION theme is widening across sectors, from software/SaaS, financials, legals, REITS and now logistics.

Australia Inflation Expectations Rise to Highest Since June 2025

RBA is now the most hawkish central banks, more than BOJ in my opinion

The House voted to end Donald Trump’s tariffs on Canada

The big problems for markets will be when everyone is positive (not now when a lot of people expect bad data).

Education and health services the big driver here

Market impact after NFP worse than past average

Stronger than expected NFP print, with lower unemployment rate too

VATICAN BANK LAUNCHES CATHOLIC-BASED STOCK INDEXES The Vatican Bank has launched two equity indexes — one for the US and one for the Eurozone — selecting stocks based on Catholic principles. Each index holds 50 mid- and large-cap companies, including major tech and financial

*STELLANTIS CUT TO BAA3 FROM BAA2 BY MOODY'S; OUTLOOK STABLE

Goldman: if you are getting scared of vanishing software stock values, just look at newspapers.

"Heavy Truck Sales have put in their strongest 3-month swing since the COVID lows. And there are people out there seriously talking about a recession this year" from @MacroOps

Outperformance of Japan (Nikkei or Topix) is impressive

Takaichi's big gamble paid off

Dow Jones Industrial Average Exceeds 50,000 for First Time, while S&P lag Rotation Optimism on economy (resilient) and earnings too Dow theory confirms a positive bias with transportation leading the move

Always great @fkronawitter1 A must read

Teamsystem and ION HY bonds below

Give always credit to credit EUR IG below, the last sector to wide in the last month, with a 1:60 tightening/widening ratio today In HY space is worst