Friday links: undermining American strengths
MarketsEarnings estimates have plenty of room to come down. (theirrelevantinvestor.com)It looks like we will have two 5-sigma daily moves in a row. (priceactionlab.com)Investors are trying to hide out in consumer staples. (ft.com)StrategyDon't do anything you might regret during a period of market stress. (wsj.com)The chances of you making a good decision under stress are slim. (behaviouralinvestment.com)Some calm voices to listen to during a messy market. (driftingtofifty.blogspot.com)FinanceM&A dealmakers hate market volatility. (axios.com)Stubhub and Klarna have paused their IPOs. (wsj.com)TariffsMatthew Klein, "The tariff hikes will harm Americans, they will harm people in the rest of the world, and they will likely fail to accomplish whatever they are supposed to do." (theovershoot.co)Why the indirect effect of tariffs may be worse than the direct effects. (scottsumner.substack.com)Trade deficits do not make a country poorer. (noahpinion.blog)The tariffs debacle is another sign of incompetence. (paulkrugman.substack.com)This crisis is wholly self-inflicted. (edgyoptimist.substack.com)There's no grand strategy at work here. (infinitescroll.us)EconomyThe March NFP report showed continued jobs growth and a 4.2% unemployment rate. (calculatedriskblog.com)The next employment report will start reflecting tariff feedback. (bonddad.blogspot.com)Are we setting up for a stagflationary environment? (macroeconomicpolicynexus.substack.com)The yield curve continues to invert. (econbrowser.com)Earlier on Abnormal ReturnsPodcast links: better aging. (abnormalreturns.com)What you missed in our Thursday linkfest. (abnormalreturns.com)Longform links: withstanding pain. (abnormalreturns.com)You can now follow us on Bluesky. (bsky.app)Are you signed up for daily e-mail newsletter? Well, you should be. (abnormalreturns.com)Mixed mediaThe use of Gmail and Signal for governmental purposes should be shocking, but sadly isn't. (techdirt.com)Indiana's self-proclaimed 'DOGE Boys' just splashed out on new luxury SUVs and a helipad on the state's dime. (msn.com)It's surprising foreigners don't want to come to America these days. (axios.com)
Markets
- Earnings estimates have plenty of room to come down. (theirrelevantinvestor.com)
- It looks like we will have two 5-sigma daily moves in a row. (priceactionlab.com)
- Investors are trying to hide out in consumer staples. (ft.com)
Strategy
- Don't do anything you might regret during a period of market stress. (wsj.com)
- The chances of you making a good decision under stress are slim. (behaviouralinvestment.com)
- Some calm voices to listen to during a messy market. (driftingtofifty.blogspot.com)
Finance
- M&A dealmakers hate market volatility. (axios.com)
- Stubhub and Klarna have paused their IPOs. (wsj.com)
Tariffs
- Matthew Klein, "The tariff hikes will harm Americans, they will harm people in the rest of the world, and they will likely fail to accomplish whatever they are supposed to do." (theovershoot.co)
- Why the indirect effect of tariffs may be worse than the direct effects. (scottsumner.substack.com)
- Trade deficits do not make a country poorer. (noahpinion.blog)
- The tariffs debacle is another sign of incompetence. (paulkrugman.substack.com)
- This crisis is wholly self-inflicted. (edgyoptimist.substack.com)
- There's no grand strategy at work here. (infinitescroll.us)
Economy
- The March NFP report showed continued jobs growth and a 4.2% unemployment rate. (calculatedriskblog.com)
- The next employment report will start reflecting tariff feedback. (bonddad.blogspot.com)
- Are we setting up for a stagflationary environment? (macroeconomicpolicynexus.substack.com)
- The yield curve continues to invert. (econbrowser.com)
Earlier on Abnormal Returns
- Podcast links: better aging. (abnormalreturns.com)
- What you missed in our Thursday linkfest. (abnormalreturns.com)
- Longform links: withstanding pain. (abnormalreturns.com)
- You can now follow us on Bluesky. (bsky.app)
- Are you signed up for daily e-mail newsletter? Well, you should be. (abnormalreturns.com)
Mixed media
- The use of Gmail and Signal for governmental purposes should be shocking, but sadly isn't. (techdirt.com)
- Indiana's self-proclaimed 'DOGE Boys' just splashed out on new luxury SUVs and a helipad on the state's dime. (msn.com)
- It's surprising foreigners don't want to come to America these days. (axios.com)
