Articles of the week
Stocks Crush ‘Year of Bond’ in Biggest Sentiment Shift Since ‘99: Fixed income underwhelms as Teflon economy strands bears More than half of JPMorgan clients now see no recession. (Bloomberg)
A Generational Change: People view bonds as competition for stocks as a bad thing. But it’s not.(Irrelevant Investor)
China’s war chest: how Beijing is using its currency to insulate against future sanctions. In the wake of sanctions on Russia, China has pushed to conduct more trade using the yuan in an effort to reduce its reliance on the dollar (The Guardian)
The great Rolex recession is here: The WatchCharts Overall Market Index – which tracks the prices of 60 timepieces from top brands including Rolex, Patek Philippe and Audemars Piguet – has plunged 32% from a March 2022 peak. A separate index for just Rolex models fell 27% over a similar period. (Business Insider)
A Fed Official Wonders: ‘Do We Need to Do Another Rate Increase?’ The head of the powerful New York Fed said that it was an “open question,” and that rates could fall next year. (New York Times)
Sending it forward: Successfully transitioning out of the CEO role: Great CEOs know that the transition to their successor will define their legacy and cement the strength of what they’ve built. Here’s how they do it right. (McKinsey)
22 years after the $63 billion Enron collapse, a key audit review board finds the industry in a ‘completely unacceptable’ state. Accounting firms have a critical role in verifying the finances of the companies they audit so that those clients can rely on and publish accurate snapshots of their businesses. Lately, a startlingly high number of those audits are filled with errors and other flaws, according to a report released by a congressional watchdog on Monday. (Fortune)
The AI-Powered, Totally Autonomous Future of War Is Here: Ships without crews. Self-directed drone swarms. How a US Navy task force is using off-the-shelf robotics and artificial intelligence to prepare for the next age of conflict. (Wired)
One man and his drone: ‘My hope is to shut down the coal industry’ How a citizen vigilante in West Virginia uses his drone to uncover polluters who would rather stay hidden. (The Guardian)
One of Europe’s Hottest Cities Rediscovers an Old Cooling Technique: The structure is a part of CartujaQanat, an architectural experiment in cooling solutions that doesn’t rely on burning more planet-warming fossil fuels. The site, about the size of two soccer fields, includes two auditoriums, green spaces, a promenade and a shaded area with benches. But its star performer remains hidden — the qanat, a network of underground pipes and tubes inspired by Persian-era canals. (Bloomberg)
Is it cheaper to refuel your EV battery or gas tank? We did the math: In all 50 states, it’s cheaper for the everyday American to fill up with electrons — and much cheaper in some regions such as the Pacific Northwest, with low electricity rates and high gas prices. (Washington Post)
As EVs surge, so does nickel mining’s death toll: In the mineral-rich fringes of Indonesia, whose nickel will feed EV giants like Tesla, the deaths of miners continue to mount. (Rest Of World)
A funeral for fish and chips: why are Britain’s chippies disappearing? Plenty of people will tell you the East Neuk of Fife in Scotland is the best place in the world to eat fish and chips. So what happens when its chippies – and chippies across the UK – start to close? (The Guardian)
What Landscapers Can Teach Landscape Architects: At Ohio State University’s Diggers Studio, a landscape architecture professor offers a hands-on lesson in bridging the divide between laborer and designer. (CityLab)
Two more goals, stunning free kick and a late comeback – Messi is everything MLS hoped for: Since arriving in the U.S., Lionel Messi has done nothing but deliver for Inter Miami. So, as he lined up a free kick from the right side of the box in the waning minutes of the game, his team trailing by a goal, everyone knew what was coming. And yet, even so. (The Athletic)
Pink Floyd, ‘The Wizard of Oz’ and Me: The inside story of a Times reporter’s strange role in a foundational moment in early internet culture: “The Dark Side of the Rainbow.” (New York Times)
Einstein and Oppenheimer’s Real Relationship Was Cordial and Complicated: Though Einstein didn’t help build the nuclear bomb and has just a few scenes in Oppenheimer, they pack a punch—and reflect the two physicists’ real-life dynamic. (Vanity Fair)