#doodle (uncool) … so sad, I've been #unfollowed by Prof @BaldwinRE Disclaimer: I therefore felt compelled to unfollow him as well and to #unsubscribe from his #newsletter on #Substack … I will never read or recommend his #books again, never ever.

... In that context, #automation becomes a convenient scapegoat for #macroeconomic policy failures.

If #productivity rises but #wages stagnate, households cannot absorb the additional output. Firms respond by hiring fewer workers not b/c of #robots, but b/c they cannot sell more goods & services profitably ...

#doodle Where #automation does coincide with weak job creation, the cause is rarely #robots - It is insufficient aggregate #demand - In particular, when #wage growth lags behind #productivity growth + #inflation (set by the CB).

#AI -related #capex will total around $500 bn this year and rise to roughly $700 bn next year as firms keep building out #datacenters, chip capacity, power #infrastructure and networks, chart @JPMorganAM

In the US, the policy mix is shifting from headwind to #neutral, notes @JPMorganAM

#AI boom and #unemployment US #labor market bent, but didn’t break, notes @JPMorganAM

What will #ECB do next week? Hold its key rate at 2% for a 4th straight meeting. Recent data shows the economy grew 0.3% in the 3Q2025, much faster than @ECB had forecast in Sept - chart @Reuters .com https://t.co/CGCf4Qpl7M

Much depends on how much #German military spending boosts growth, whether #euro - up 13% this year - appreciates further, and how much lower energy prices and cheap #Chinese goods weigh on #inflation – chart @Reuters .com https://t.co/CGCf4Qpl7M

#FX The #spread b/w US 10y UST #yield and those of other DM suggests the #USD is broadly in line with interest rate differentials, meaning there is little risk premium embedded in the currency today, chart @NordeaMarkets

#Fed cut borrowing costs by a 0.25% on Wedn, bringing the fed funds rate to a range of 3.5% to 3.75%, chart @hakyungkim_ @FT .com https://t.co/qiDEEYfKDM

#Japan On Friday, #BoJ is expected to present the 1st rate hike since Jan, chart @economics https://t.co/CJBYg7YxlW

CB policy rate decisions this week, chart @economics https://t.co/CJBYg7YxlW

The change to Calibri in 2023 was recommended by diversity and disability groups in the US Govt, according to US media reports. Some studies have suggested that sans-serif typefaces, such as #Calibri, are easier to read for those with certain visual #disabilities.

(This is nuts) US diplomats have been ordered to return to using #TimesNewRoman typeface in official communications, with SecState #MarcoRubio calling #Biden administration’s decision to adopt #Calibri a “wasteful” diversity move, @guardian https://t.co/5bQfBWxEBv

What a blast! #basketball @EuroLeague RegSeason Rnd 16 - AS #Monaco 86 vs #FENERBAHCE 92 (awesome) The reigning champ overturned a 17-point deficit in a rematch from last season’s title decider – @FBBasketbol congrats guys! https://t.co/na4SK1nhpK

#doodle #SaturdayVibes #music #contrabass #fun

What does “10y #German Bund yield > #DAX dividend yield” mean? The strategic contradiction inside ECB thinking https://t.co/WvgSWhQ2Tq

Overall, research findings suggest that—at least thus far—domestic firms might have added fewer #jobs in response to #tariffs, similar to the employment effects of the 2018 #tariffs - chart @KansasCityFed https://t.co/dLj0jLf0mS

The rare earth supply chain at a glance, chart @GoldmanSachs

#commodities #AI --- many #rare #earths are not rare in quantity. They are instead referred to as “rare” due to the difficulty of extracting them from their ores, chart @GoldmanSachs