A World Turned Upside Down

Lindsay Clancy Juror Admits To Feminist Motives Behind Trial It's not surprising, but it is discouraging how accurate the conservative analysis of the Lindsay Clancy trial has become.  Every suspicion has proven correct about the jury and every fear about their motives is proving more substantial.  The trial itself symbolizes a disastrous miscarriage of justice in favor of ideology; it offers proof that in an age of social media and political cultism, finding an impartial jury is increasingly impossible.  Thanks to the "rogue juror" the deliberations did not lead to a...

Nasdaq Futures Slide As AI "Casino" Hangover Crushes Kospi; S&P Flat After JPM FICC Miss US futures are mixed with the Nasdaq lagging as the AI rout that started on Wall Street on Monday ricocheted through Asia, where the Kospi crashed as much as 7% after Broadcom's Hock Tan likened AI investing to a casino and China's CXMT touted a denser memory chip design, while Q3 bank earnings kicked off with a FICC trading miss at JPMorgan; as a result, a flight to safety sent 10Y yields 5bps lower to...

Here's Why the US Manufacturing Surveys Are Diverging So Dramatically... Update (1015ET): As we noted below, there was a significant divergence between the two manufacturing surveys for July... which is not that unusual, and also an odd divergence between falling inflation expectations and universally rising commodity prices. Based on the responses to the ISM survey, we may have found the answer... and it's a familiar one in this bifurcated economy... Green ones from AI, semiconductor, electronics and machinery firms report strong demand from AI data centers, chips and defense. Red ones from metals,...