Hot Reads: Research Pokes Holes in Bond ETF Argument

Paper Says Bond ETFs Suck Liquidity Out of Market in Crisis (Financial Times)
Research contradicts prevailing view that ETFs help find fixed-income buyers and sellers in times of stress.

Can ChatGPT Help Win Mandates? PanAgora Wants to Find Out (Institutional Investor)
Artificial intelligence could make the labor-intensive work of RFPs a thing of the past.

Determining Bubble Prices Is Harder Than You Think (Disciplined Systematic Global Macro Views)
One man's bubble is another man's strong move based on fundamentals.

A Guide to Ray Dalio’s All Weather Portfolio (Of Dollars & Data)
Every asset performs differently based on what is happening in the macroeconomic environment, so your portfolio allocation should reflect this.

How to Take Advantage of the Highest Interest Rates in Decades (CNBC)
Rising interest rates present both opportunities and challenges for your finances.

Vanguard Chief Defends Decision to Exist Climate Alliance (Financial Times)
Champion of low-cost trackers warns against expecting superior returns from ESG funds and alternative strategies.

The World’s $13T Interest Bill (The Economist)
Calculating who has been hit hardest by rising rates.

Globalization’s Last Stand (Jackson Hole Economics)
The second wave of globalization is threatening to give way to fragmentation and conflict, as the first wave did in 1914.

Overbought-Oversold Watch: The S&P 500 Index (The Capital Spectator)
Casual observation suggests that the low-hanging fruit has been picked.