Why we should worry about the rise of stablecoins Asset-backed digital currencies could pose risks to bedrock of global financial system FT ft.com/content/e5701f… #Crpto #BTC #stablecoins #tether #DeFi

The mounting pressure on bond markets: More and more debt must be refinanced worldwide, i.e., buyers must be found. The global sale of bonds rose to a record level of almost $20tn last year - and the trend is still rising! ft.com/content/a07d5a…

Long-dated bond markets look pretty scary at the moment... but central banks should pass the buck- not their problem

Gold is outperforming every major asset class in 2025 — a dominant run.

🚗 Tesla’s European sales fall for fifth consecutive month 🚙 Musk’s group sold just 13,863 cars in May -- down 28% year on year -- despite a 27.2% jump in overall EV sales across the region, according to data from the European Automobile Manufacturers’ Association

#DebtBrake - good effing riddance! (not #saving, but spending fosters economic growth) #Germany’s #fiscal shift recovers #euro area – behold 10y Govt bond yield #spreads - chart Financial Times ft.com/content/3cd968…

#FX #euro versus US #dollar - chart Financial Times ft.com/content/3cd968…

🚗 Tesla reports 13.5% drop in Q2 vehicle deliveries 🚙 FT ft.com/content/a69b71… $TSLA | #Tesla | #teslastock

One of the big surprises in today's jobs report was the contraction in government payrolls. Consensus expected total job growth of 104k, of which 100k would be private jobs - implying growth of 4k for government payrolls. Instead, the government sector lost -10k jobs, thanks

This is. Not right. The BLS has been very transparent about their inability to efficiently survey the public because of the federal hiring freeze, funding cuts and a drop in survey response rates. The former Commissioner of the BLS did an entire Odd Lots episode on this with

🇺🇸 🇬🇧 New York gold futures usually trade in lockstep with the London spot price. Not now Trump plans to impose tariffs on imports of 1kg and 100oz #gold bars, in a blow to Switzerland, which is the world’s biggest exporter of the metal FT ft.com/content/5f5206… #XAUUSD

Microsoft, Google, Amazon, and Meta will spend over $400B on data centers in 2026. Wow.

Opinion: In the Trump 2.0 era in financial markets, the dollar is taking the strain. The stock rally is masking deep anxiety from investors about the path forward for the world’s biggest economy. on.ft.com/4pvlxR5

AI Investment Nears Peak Growth Impact AI capex has added over 1% to GDP growth in 1H25, but hyperscalers plans to slow spending growth ahead suggests AI’s recent economic boost will likely also slow ahead. open.substack.com/pub/bobeunlimi…

🔶 Spot gold tops $4,000 for first time 🔶 The metal has soared more than 50% this year, driven by central banks buying bullion to diversify away from the dollar, as well as by investors who see gold as a hedge against inflation and widespread uncertainty #XAUUSD

Other than AI? How about gold. For more from today's Chartbook Top Link, see the link in the comment below.

The US dollar is having its worst year in decades, per FT:

Global Central Banks now own the most Gold this century 🚨🚨🚨

There is NO perceived #credit #risk in the #market as spreads have now dropped to the lowest levels since 1998.

Why journalism really needs copy editors. (Look closely) (h/t Robert McCartney)