Drew Dickson is the founder and chief investment officer of Albert Bridge Capital. He doesn’t have a position in Tesla’s stock. Despite Tesla surrendering a good portion of its frothy gains in 2022, it is off to a poor start already in the new year.…

Pour one out for one of the weirdest macroeconomic phenomenons of all time. From the FT’s Tommy Stubbington just now:The global stock of negative-yielding bonds has dwindled to zero after last month’s unexpected policy shift by the Bank of Japan undermined the last bastion of…

The global stock of negative-yielding bonds has dwindled to zero after last month’s unexpected policy shift by the Bank of Japan undermined the last bastion of sub-zero yields.Negative yields — which occur when bond prices climb so high that buyers holding them to maturity are…

Most of the 2023 outlook reports are fairly unimaginative and follow a predictable pattern. Central banks will keep hiking, recessions will follow, inflation will slow, markets will fall and then rise in the second half. But here’s a genuinely interesting prediction from The ETF Educator’s…

Good morning. Yesterday’s US economic data combo — persistently high job openings and a soft manufacturing PMI survey — presents an increasingly familiar but uneasy contrast. The economy is slowing but the labour market remains tight. The Federal Reserve’s job is hard. Email me with…

The Federal Reserve’s most aggressive pace of interest rate increases in decades is set to trigger a surge of defaults over the next two years in the $1.4tn market for risky corporate loans, according to Wall Street banks and rating agencies.Analysts across the industry forecast…