*US 30-YR YIELD HIGHEST SINCE 2004 *JAPAN 10-YR YIELD HIGHEST SINCE 1996 *FRANCE 10-YR YIELD HIGHEST SINCE 2008 *GERMAN 10-YR YIELD HIGHEST SINCE 2009 It’s time for Bessent to put his foot down.

The country’s low overdose rate suggests an unlikely benefactor economist.com/europe/2026/09…

Portfolio labels are lagging the market. SPY is +0.8% this month. TLT is -1.7%. GLD is -1.0%. UUP is +1.6%. The signal is dispersion. When the dollar leads and diversifiers do not, 'balanced' is a hypothesis, not a fact. Source: daily closes through Sep. 23, 2026.

Private equity could revolutionise US lawyer pay, law firm bosses say ft.trib.al/gj3sHcq

My wife wants to buy her late mother’s home, but her siblings won’t let her. Should I get involved? trib.al/jC8f5HH

Fascinating Approvals of AI-assisted writing varies by how does it:

$U Open Interest Updates $U $46 calls 10/16 saw +79,142 in new open interest. Total is now 79,873 $U $47 calls 10/16 saw +26,651 in new open interest. Total is now 27,632 Today’s update confirms the new opened positions Saw $47.03 in overnight trading but flat this morning

Daisy Edgar-Jones and Esmé Creed-Miles lead a clever, tasteful new take on the Jane Austen classic that firmly targets Gen Z audiences, writes FT film critic Danny Leigh. Tap here for his film review: ft.trib.al/REmM1Bw

I’ve seen people say that if you don’t have this by 30… 1. $100k/year job 2. 6 month emergency fund 3. $100k invested for retirement You just wasted away your 20s 😬 Agree / disagree — and if you disagree, what’s your actual bar for 30?

I have said it before and I will say it again: the smartest people in the world are unemployed and into crypto

The country could lose its status as an emerging market economist.com/finance-and-ec…

Join us this morning on @NTLiveMedia at 8:00 AM ET for the Morning Gap macro show with the lovely @maggielake filling in for @AnthonyCrudele SPECIAL GUEST: @PatrickCeresna at 8:30 AM ET Link: piped.video/live/hmjShHZhpfU…

Number two is trying harder economist.com/finance-and-ec…

Pressure is mounting on U.S. small caps. The S&P 600 has broken below its 50-day moving average, ending a run of outperformance that began in late 2025 after nearly five years of lagging the S&P 500. Rising interest rates and a softening consumer aren't helping. h/t @ISABELNET_SA @bcaresearch

As interest rates have risen, the market has been primarily rangebound since April. That has allowed earnings to catch up, bringing down valuations.

Russia Grain Hub Declares Emergency After Drone Attacks

Republicans launch midterm ad spending blitz as Senate control on ‘knife’s edge’ ft.trib.al/hGCBCih

Supertanker Rally Lures Investors as War Squeezes Vessel Supply A supercharged rally in tanker earnings is attracting new investors to the global shipping industry, as the war in Iran points to how geopolitical crises can drastically curtail the supply of vessels. Very large crude carriers, the workhorses of the tanker fleet, have seen average daily earnings spike nearly twenty-fold this year. The upheaval caused by the Middle East has spread to smaller tankers and other vessel types, offering owners the chance to command higher freight rates and values for their ships. Financial investors are piling into the sector. An exchange-traded fund tracking freight futures, the Breakwave Tanker Shipping ETF, has climbed an eye-popping 3,700% this year. (Bloomberg)

Japan opens after a 3 day holiday

Russell is down 8% and sitting on its 200-day MA. Yields are surging. Money is leaving IWM. Yet Russell vol is barely moving. That’s the part of this selloff we’re watching. zerohedge.com/the-market-ear…