Leaders-Laggards
Warsh's First Strike: Hawkish Hold Sends EEM and Russell To Extremes, Energy Goes From Hero To Worst Performer
Warsh Kills Cuts; EEM +1.81σ Extreme; Russell +2.03%; XLE -5.86% Worst Sector; Lumber/Gold +8.11%; Credit Diverging Now
Latest
Macro Observations
Weekend reading: 3 from the archive worth your time
Weekend reading: 3 from the archive worth your time If you have been enjoying the free Lead-Lag Report, here are three paywalled pieces from the last few weeks that free readers consistently ask me about. 1) A Market Divided (2)Markets are sending a split signal across styles and
High Yield Spotlight
The Best BDC Money Can Buy — And Why You Have to Pay Up for It
Main Street Capital (NYSE: MAIN) — Monthly Income That Grows, NAV That Compounds, and a Premium You Either Accept or Walk Away From
Newsletter
The Next Phase of Lead-Lag Media Starts This Weekend
Advisor Credits are going live first. More is coming for the rest of the Lead-Lag ecosystem. Cover image / top image This weekend, Lead-Lag Media takes a major step toward becoming something bigger than a media business. For years, The Lead-Lag Report has been built around one idea:
Global View
When Oil Broke Gold's Hand
The Hormuz peace trade unwound crude and yields in lockstep, but gold refused to follow the script — and that refusal is the whole tell.
Newsletter
Starting in Under an Hour: Autocallable Income Strategies — Live at Noon ET
Final call. Free webinar. CFP CE credit. Registration closes when we go live.
Newsletter
Today at Noon ET: Autocallable Income Strategies — Live with Will Rhind (GraniteShares)
A free 60-minute live webinar. CFP CE credit approved. Registration required.
Macro Observations
A 30% off annual code, this weekend only
High Yield Spotlight
The Blue-Chip BDC Trading at a Discount: Is Blackstone's Credit Machine Worth the Premium Name?
Blackstone Secured Lending Fund (NYSE: BXSL) — A 13% Yield Built on 97.6% First Lien Loans, With Cracks Beginning to Show
Newsletter
When AI Stops Predicting and Starts Doing: The Investable Shift From Screen to Physical World
Sponsored by WisdomTree
Weekly Signals
A Market Divided (2)
Signals are split evenly between offense and defense, pointing to a market at an inflection point.
Global View
When the Yields Won
A blowout jobs print pushed the 10-year to 4.55%, and a holding Iran ceasefire pulled the geopolitical bid out from under everything.