On this day in history, October 23rd 1981, the US National debt officially hits $1T. Remember when that used to be a lot of money?
Today in history, the yield curve is back to the highest level since late March:
Economic Data Today:
News of the Day:
Stocks rally, Treasury yields hit highs on stimulus hopes – https://www.reuters.com/article/global-markets/global-markets-stocks-rally-treasury-yields-hit-highs-on-stimulus-hopes-idUSL8N2HE56V
U.S. Business Activity Strongest in 20 Months, IHS Markit Says – https://www.bloomberg.com/news/articles/2020-10-23/u-s-business-activity-strongest-in-20-months-ihs-markit-says?
Stocks Typically Climb, Regardless of Who’s in the White House – https://www.wsj.com/articles/stocks-typically-climb-regardless-of-whos-in-the-white-house-11603445400?mod=hp_lead_pos1
Other News & Blogs:
Lots of Overnight Tragedies, No Overnight Miracles – https://www.collaborativefund.com/blog/lots-of-overnight-tragedies-no-overnight-miracles/ (I second Mike Pasieka’s recommendation to read, Psychology of Money by Morgan). – https://www.amazon.com/Psychology-Money-Timeless-lessons-happiness/dp/0857197681
How solitude and isolation can affect your social skills (projection) – https://www.bbc.com/future/article/20201022-how-solitude-and-isolation-can-change-how-you-think
Weekend Podcast Recommendations:
Masters in Business – Ray Dalio on the Decline of Real Interest Rates (Ok Boomer) – https://open.spotify.com/episode/0AKVd6dAlYIbwLSvNj03S2?si=tAtkL4vSQHi4oq-pJI4LaA
Odd Lots – Benoît Cœuré On Central Bank Digital Currencies And The Future Of Monetary Policy (Ok Gen Z) – https://open.spotify.com/episode/1fP9gmb1Y2WisiQtDWVW9l?si=lxhioTAkQ5yPstMOInmIAw
Invest Like the Best – Ben Gilbert and David Rosenthal of Acquired – Lessons on Early Stage Investing and Getting Acquired (V Meta) – https://open.spotify.com/episode/10Y42uuhuduXPYvj7rs0Lm?si=cdYK6NWIRI2obWpYCw2h8A
VOTE VOTE VOTE