State of the Corporate Bond Market

Corporate Bonds Are a Great Deal if You Don’t Look Too Closely
https://www.wsj.com/finance/investing/corporate-bonds-are-a-great-deal-if-you-dont-look-too-closely-0b9af226
Highly rated debts offer high yields but are priced close to perfection. 

Is it Time to Get Worried About US Equities?

Telegraph's Jeremy Warner:
https://www.telegraph.co.uk/business/2026/05/26/stock-markets-threaten-to-fracture-under-pressure-from-trum/
It’s a mug’s game predicting when bull markets are going to end. So far, stock prices have casually brushed aside virtually every shock thrown at them – from pestilence to war and growing protectionism – and could easily carry on in the same vein for a long time to come.
But as Herbert Stein, President Richard Nixon’s economic adviser, observed: “If something cannot carry on forever, it will stop.” Hard to know when, though.

The Risk Premium for Holding Stocks Over Bonds Is Vanishing
https://www.wsj.com/finance/stocks/the-risk-premium-for-holding-stocks-over-bonds-is-vanishing-95be5b9d
The gap between the market’s earnings yield and bond yields has narrowed, a measure that has at times predicted subpar stock returns.
 
Jeremy Grantham on why this market will fall by 50% but nobody will warn you
https://youtu.be/M-dnlf_8W5o 

The Stock Market Has Never Been So Good When People Have Felt So Bad
https://www.wsj.com/economy/consumers/stock-market-consumer-sentiment-af088e87
Stocks are partying like it’s 1999, but Americans haven’t been this gloomy in 70 years. 

Why IPO mania could signal top of the market
https://www.ft.com/content/7e153dc1-7e13-44d0-9c49-8071a4c29261

Why it’s too late to jump on the chip bandwagon
https://www.reuters.com/commentary/breakingviews/why-its-too-late-jump-chip-bandwagon-2026-05-22/ 

Related:

A Cold Shower for The AI Mania
https://www.fa-mag.com/news/a-cold-shower-for-the-ai-mania-87115.html

Bad Vibes

The ‘Vibecession’ Is Over. The ‘Permacession’ Is Here.
https://www.theatlantic.com/ideas/2026/05/americans-depressed-economy/687278/
Why Americans are so unhappy. 

UK - Oversupply of PhDs

Why young academics are leaving academia
https://www.ft.com/content/8097a49b-32f9-455c-890c-921d3b419f59
As more PhD holders compete for limited university jobs, many are reconsidering the appeal of industry careers. 

Absolute Power Corrupts

Were the Constitution’s Authors a Little Too Optimistic?
https://www.nytimes.com/2026/05/25/us/constitution-framers-president-executive-monarch.html
The founding document of the U.S. has a blind spot. President Trump is making it visible.
 
Can Trump’s brazen pursuit of WH enrichment be stopped?
https://youtu.be/4zb7oJPYwlw 

Can Anything Stop Trump’s Corruption?
https://www.newyorker.com/news/the-financial-page/can-anything-stop-trumps-corruption
The President’s stock dealing, $1.8-billion “anti-weaponization” slush fund, and grant of immunity from the I.R.S. demonstrate the need for major ethics reforms.

Revival of the Midwest

The Midwestern Exodus Is Finally Ending
https://www.wsj.com/us-news/akron-ohio-midwest-population-growth-5680accb
A longtime migration away from parts of the Rust Belt has started to reverse, as housing affordability draws people to metro areas such as Akron, Ohio. 

Stablecoins and Private Money

Stablecoins Are Private Money. That’s Why They’re a Risk to the Economy.
https://www.wsj.com/finance/currencies/stablecoins-are-private-money-thats-why-theyre-a-risk-to-the-economy-d3498171
Financial innovations often lead to upheaval and instability. Despite new regulations, those risks persist with stablecoins.