Research
Reasoning you can disagree with.
Connections made.
Meta said it would spend more. The next day its shares fell 7% and the 30-year yield fell 13 basis points.
The loans go first
23 October 2026 | The AI build-out · Oracle (NYSE: ORCL) · Anthropic (listing planned) IIThe Market, the Treasury, his dog and its tail
23 October 2026 | US 30-year Treasury 5.33% · 2-year 4.69% · Fed funds 3.75–4.00% IIIThe rock of ages
23 October 2026 | Gold $4,012 IVOptionality repriced
23 October 2026 | PureCycle Technologies (Nasdaq: PCT) $2.77 VMore eyes on the door?
23 October 2026 | S&P 500 breadth VIThe ledger · Where to check
What we said to watch in August, and what happened
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Now Concentrate.
Hubris in the long bond·Two re-rating securities, alike only in not being AI·Concentration that is circular, not merely large·Investigating the bull and bear disagreement, with critical events defined
Making a market in bonds
28 August 2026 | US 30-year Treasury 5.21% · 10-year 4.72% · Federal debt $40tn IIResin to be cheerful?
28 August 2026 | PureCycle Technologies (Nasdaq: PCT) — $6.50 IIICircular reasoning
28 August 2026 | Index concentration and circular risks IVA rare nugget in the gold business
28 August 2026 | Wesdome Gold Mines (TSX: WDO) — C$33.80 · Gold $4,454/oz · Silver $66.15/oz VWhat to watch · Where to check
Figures to watch and developments to monitor
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