Thursday links: differentiated trust

Quote of the Day "Synthetic intelligence is being commodified, but trust is differentiated. " (Bryce Elder) Rates - The Federal Reserve doesn't control long term interest rates. (trendlabs.com) - Are structural deficits going to keep long term rates high? (economist.com) IPOs - Is anybody really ready for an Anthropic IPO? (barrons.com) - Revolut plans to dual list in New York and London. (ft.com) Finance - Jackson National ($JXN) is the 'largest issuer of traditional variable annuities in the United States.' (hntrbrk.com) - The SEC has opened a path to tokenized equities. (cnbc.com) - Private pension funding is not an issue. (snippet.finance) AI - Outside of AI companies, who wins? (marketsentiment.co) - People talk about AI with more certainty than it deserves. (spyglass.org) - How to spread the benefits of AI to the public. (reidhoffman.substack.com) Stay in touch - Don't miss a thing! Sign up for our daily e-mail newsletter. (abnormalreturns.com) - Work in wealth management? Sign up for our exclusive Talking Wealth newsletter. (talkingwealthpod.com) Defense - Russia has an advantage in jet-powered drones. (wsj.com) - How AI has put the Pentagon's systems at risk. (wapo.st) - Why Russian ships can easily operate off Ireland. (wsj.com) - Autonomous warfare is already here. (ft.com) Economy - Initial unemployment claims are at record low levels. (bonddad.blogspot.com) - Four reasons why inflation should cool. (morningstar.com) - Do consumer surveys tell us much about inflation? (ft.com) - Yes, labor share really is falling. (newsletter.mikekonczal.com) Earlier on Abnormal Returns - Longform links: the passage of time. (abnormalreturns.com) - What you missed in our Wednesday linkfest. (abnormalreturns.com) - Personal finance links: being the market. (abnormalreturns.com)