Quote of the Day
"The Fed is wrestling with the question of how good is ‘too good’ when it comes to economic growth."
(Claudia Sahm)
Chart of the Day
After a good run, homebuilder stocks are feeling the pain of 8% mortgages.
Energy
- Chevron ($CVX) is buying Hess ($HES). (reuters.com)
- Energy deals are happening but without much in the way of premiums. (washingtonpost.com)
Banking
- Regional banks are feeling the pain of higher deposit rates. (wsj.com)
- Big banks are next. (semafor.com)
Companies
- Netflix ($NFLX) is playing with fire with its price hikes. (lefsetz.com)
- Just how big is Costco's ($COST) clothing business? (readtrung.com)
- A look at the cloud computing landscape. (genuineimpact.substack.com)
Fund management
- How indexing has changed the world of asset management. (pionline.com)
- The ETF industry is two separate tracks: low cost index funds and increasingly specialized funds. (ft.com)
- There is overcapacity in the traditional asset management industry. (investmentnews.com)
Housing
- Home buyers are backing out of deals at a near-record rate. (markets.businessinsider.com)
- Home affordability has never been worse. (wsj.com)
Global
- The U.S.' foreign policy apparatus is dealing with a lot of stuff at the moment. (danieldrezner.substack.com)
- Investors will eventually return to Ukraine. (wsj.com)
Economy
- Claudia Sahm, "The Fed is wrestling with the question of how good is ‘too good’ when it comes to economic growth." (stayathomemacro.substack.com)
- U.S. households are in good shape and still everyone is miserable. (awealthofcommonsense.com)
- There is plenty of pent-up demand for new cars. (bonddad.blogspot.com)
Earlier on Abnormal Returns
- Adviser links: a diversity of goals. (abnormalreturns.com)
- What you missed in our Sunday linkfest. (abnormalreturns.com)
- Top clicks last week on the site. (abnormalreturns.com)
- Are you a financial adviser looking for some out-of-the-box thinking? Then check out our weekly e-mail newsletter. (newsletter.abnormalreturns.com)