This coming week marks the start of the 4th quarter and final stretch of the 2026 calendar year. This week we published another long-form thought piece examining the structural trends behind the immigration, demographics, the labor market and wages. We believe these forces are important to understand in order to get the investment landscape correct. We conclude the piece with a few theme specific investment ideas.
Over the coming weeks and months we plan to release a few more write ups that further detail how we think about this economic regime and the asset classes we think should be paid attention to.
In this week’s podcast we brought on DCP, a long-time rates trader who spent decades trading in the Chicago pits. Given the commotion and rising volatility across the bond market, we thought it would be a good idea to chat with someone who’s been in these markets for longer than Felix and I have been alive. It was a great conversation.
This week’s issue covers:
Economic and Fed update.
Oil update.
Bond yields.
SpaceX.
Asset allocation thoughts.
