1. Hyperscaler Net Issuance of Debt
Daily Dirtnap Newsletter
2. Buyback Blackout Period Starting Now
We are now deeply into the buyback blackout period with just around a third of discretionary buybacks by index weight for S&P 500 companies active this week (discretionary buybacks represent ~30% of all buybacks), and it won’t get back above that until we get into November.
Zach Goldberg Jefferies
3. Private Equity Stocks Roll Back Over as Rates Rise and IPOs Get Cancelled…..S&P vs. Apollo, KKR, and Blackstone
Ycharts
4. AI Related Stocks 53% of S&P
A Wealth of Common Sense
5. ARTY AI ETF Makes New Highs….After -25% Correction this Summer
Stockcharts
6. AI Based American Wealth Another Level
Bloomberg By Kristine Owram The boom in AI valuations has created unprecedented wealth for founders, early-stage investors and employees lucky enough to get stock options. Even among the very richest people in the world, the divergence between the AI haves and the everyone-else-have-nots is stark. Tech billionaires account for all of the $845 billion in wealth gains on the Bloomberg Billionaires Index so far this year, while those who made their fortunes outside technology lost a combined $62 billion.
Bloomberg
7. Real Estate ETF IYR at Lowest Level Ever vs. S&P
Charlie Bilello
8. Political Double Haters on the Rise Going into Mid-Terms
WSJ
9. Reality of 6-Figure Blue Collar Jobs
Washington Post By Danielle Douglas-Gabriel The findings counter an emerging narrative about the prevalence of six-figure jobs in the skilled trades that don’t require higher education. Politicians and business leaders have touted careers in electrical work, HVAC and plumbing earning more than $100,000, arguing that a four-year degree is unnecessary for financial security. While those jobs offer healthy salaries, research shows their median earnings are more modest than salaries for less common occupations that don’t require a bachelor’s degree.
The Washington Post
10. Get Unstuck
Peter Mallouk