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Thoughts on risk, uncertainty, and economic action.

"Worst-Case Scenario": Novo Nordisk Plunges After Next-Gen Obesity Drug Falls Short Of Lilly Rival Shares of Novo Nordisk A/S plummeted again on Monday after the company reported trial results showing its next-generation obesity shot, CagriSema, delivered 20.2% weight loss at 84 weeks, compared to 23.6% for Eli Lilly & Co.’s tirzepatide (Zepbound). Bloomberg Intelligence analyst Michael Shah explained, "This outcome is the worst-case scenario for Novo and heightens the need for M&A with Novo’s other GLP-1/Amylin drug." Shares of Novo in Copenhagen plunged as much as 16.5%, breaking below a support level...

US Shipment Of F-35s Goes MIA In Shocking Detour To Hong Kong Authored by Luis Cornelio via Headline USA, Lawmakers and the Trump administration are investigating the odd disappearance of a U.S.-bound shipment of F-35 fighter jet components from Australia, which were originally meant to be repaired on U.S. soil, according to new reporting by Politico. The report, published Friday and citing three anonymous sources, noted that an intermediary was transporting the equipment on behalf of American defense manufacturer Lockheed Martin through the Pacific Ocean before it was diverted to Hong Kong. The...