My end-of-week morning train WFH reads:
• The age of AI layoffs is already here. The reckoning is just beginning: Job cuts are hitting knowledge workers from entry-level to management, from tech-forward companies to more staid corners of Corporate America. (Quartz)
• Why Investors Are So Nervous About Japanese Bonds: Global bond jitters are spilling into Japan, a corner of the market that for decades experienced barely any volatility — and it’s worrying investors already spooked by frictions in US Treasuries. (Bloomberg)
• Plastic Spoons, Umbrellas, Violins: A Guide to What Americans Buy From China: The things the U.S. imports a lot, the things it doesn’t and everything in between. (Upshot)
• This New Investing Idea Isn’t Right for Your Retirement Plan: Why don’t ‘alternative assets’ like private credit belong in your 401(k)? Let us count the ways (Wall Street Journal)
• Target learns that bowing to anti-DEI backers can be costly, a lesson for those bowing to Trump: Target may have thought it was tacking toward consumer preferences, or that DEI was a craze that had faded out. But here’s the punch line: Target’s sales have cratered, at least in part because consumers were angry about its reversals. The company’s management has been a little vague about the impact of all this. (Los Angeles Times)
• What Are People Still Doing on X? Imagine if your favorite neighborhood bar turned into a Nazi hangout. (The Atlantic)
• As Trumps Monetize Presidency, Profits Outstrip Protests: The president and his family have monetized the White House more than any other occupant, normalizing activities that once would have provoked heavy blowback and official investigations. (New York Times)
• How Ice Sculpted Canada: Why did the Russians sell Alaska to the US? Because the land was too far away, and expansionist Americans and British were about to take it over anyway. They decided to sell it to the US because it was the weaker country and Russia’s bigger enemy at the time was the UK—a European competitor and the most powerful country at that time. (Uncharted Territories)
• 10 Things NOT to do in the Hamptons: Unless You Want to Out Yourself as a Tourist. (Off-Camera)
• He’s the Best Playmaker in the NBA—and He Never Has the Ball: Indiana point guard Tyrese Haliburton has led the Pacers to the brink of the NBA Finals. He hasn’t needed the basketball in his hands to do it. (Wall Street Journal)
Be sure to check out our Masters in Business interview this weekend with Tom Barkin, Richmond Federal Reserve President & CEO and voting member of the the Federal Open Market Committee. He previously spent 30 years at McKinsey & Company , eventually becoming Chief Risk Officer and Chief Finaacial Officer.
Do we need to rethink the 60/40 paradigm?
Source: @TimmerFidelity
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