We love financial plumbing, debt crises, balance sheets, margin calls, economic puns and snark.
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Quite the predicament
What’s the value of a crypto wrapper on a narrow bank?
And other reflections on a proposed US capital control
Weird AI ’Bankovic
Farage & Co could make a big splash at the pool party
Unpicking the first lady’s memecoin launch
Dollar; financial sector lending; Japan; reverse repo; buffered ETFs; Venezuela; Gen-X; ships; and an odd bird
Big Tech put a gloss on earnings season, but things don’t look great below the surface
Teed off
All Drizzle, no sizzle
Sex! Boardroom drama! Retail!
Why April 2025 was no March 2020
European optimism; credit trading; DOGE; FDI; Ricardo; tariffs; bad science; old CGI; and The Barbican
Tariffs and trade deals; eggs; private credit; macro history; Ozempic; Bell Labs; and carbonated lo-fi beats
PLOT TO GO!
Trillion dollar GIGO
Examining the CDS entrails
Cities; phone sex; college; university; Scott Bessent; tax rates; and Bill Gates
Shake it till it shrinks
The Bank of England’s most exciting ratesetter strikes again
Gulf clap
A 1990s vibe shift
Blood; the CIA; PCs; critical minerals; RFK; AI friends; pyramids; and wine animals
GLWT
The $2.5tn Jenmageddon
Daft Punk; Elon Musk; daydreaming; eternal life; Vikings; life insurers; buildings; and Dua Lipa
Clickbait, Alphaville-style
How the Oracle of Omaha embarrassed his own industry
Bill Gross and the chart spray
We have an alternative culprit though
TM SGNL; film tariffs; Texas; lit crit; crypto taxes; Buffett; South Korea; more Buffett
‘Trading has been hectic’
Bunkers; helplines; Tolkien; the NYC subway; interval funds; Brian Steel; neurodivergence; and archers
Asset-liability mismatches FTW
I chart in your general direction
Wall Street has a new captain
The Strategy strategy will keep working until it doesn't