Thursday links: a hard day to invest

Markets

• Japanese government bond yields are soaring. (ft.com)
• 30-year Treasury yields hit levels not seen since 2007. (axios.com)
• Joe Weisenthal and Tracy Alloway talk with Steven Englander about why yields are rising around the world. (podcasts.apple.com)

Strategy

• Investors learn the wrong lessons from bull markets. (novelinvestor.com)
• What to invest in when everything looks unattractive? (capitalallocators.com)

AI

• Apple ($AAPL) seriously risks getting left behind. (spyglass.org)
• Why OpenAI bought io Products. (crazystupidtech.com)
• What are Sam Altman and Jony Ive up to? (spyglass.org)

Finance

• Private credit has a supply problem. (wsj.com)
• JP Morgan Chase ($JPM) is only getting stronger. (economist.com)
• Kraken is going to offer tokenized versions of stocks to non-U.S. customers. (wsj.com)
• Yes, executive branch employees CAN trade stocks. Conflicts abound. (propublica.org)

Fund management

• Most new ETFs are solutions in search of a problem. (morningstar.com)
• Traditional asset managers are teaming up with alternatives providers. (morningstar.com)

Global

• China is stepping up its support for WHO. (semafor.com)
• The baby bust has come to Latin America. (bloomberg.com)
• The rest of the world has a different approach to air traffic control. (theatlantic.com)

Economy

• Still no pick up in weekly initial unemployment claims. (calculatedriskblog.com)
• A profile of Kyla Scanlon. (thefp.com)

Earlier on Abnormal Returns

• Longform links: making waste disappear. (abnormalreturns.com)
• What you missed in our Wednesday linkfest. (abnormalreturns.com)
• Personal finance links: a financial buffer. (abnormalreturns.com)
• Don’t miss a thing! Sign up for our daily e-mail newsletter. (abnormalreturns.com)

Mixed media

• 16 books from JPMorgan’s annual summer reading list including: “Economic Spotlight: Our Dollar, Your Problem: An Insider’s View of the Seven Turbulent Decades of Global Finance, and the Road Ahead” by Kenneth Rogoff. (cnbc.com)
• Larry Swedroe’s 53 favorite finance books over the years including: “When Genius Failed: The Rise and Fall of Long-Term Capital Management” by Roger Lowenstein. (larryswedroe.substack.com)