Tuesday links: the electric revolution

Quote of the Day "The electric revolution is the first major technological revolution that America has just completely whiffed on." (Noah Smith) Chart of the Day 30-year mortgage rates area headed back toward 7%. (chart via MND) August 2026 - How major asset classes performed in August 2026. (capitalspectator.com) - The S&P 500 rose 2.72% in August 2026. (on.spdji.com) Rates - The 30-year Treasury is at it highest sustained level since 2006. (fa-mag.com) - A Q&A with Robin Wigglesworth, author of "A Fabulous Debt: The Epic Story of How Bonds Built the Modern World." (axios.com) Retail trading - How South Korea effectively tamped down on (leveragerd) speculation. (sg.finance.yahoo.com) - How retail investors have changed how the stock market works. (harveysawikin.substack.com) Gambling - Why college kids are uniquely at-risk from problem gambling. (espn.com) - How Pokemon cards became a way to gamble. (slate.com) Finance - Polymarket raised another $1 billion, led by 1789 Capital. (nytimes.com) - Some 21 banks, including BofA, Wells and Goldman, are launching a stablecoin. (wsj.com) - Revolut is now larger than every UK bank but HSBC. (ft.com) AI - How AI is putting pressure on big consulting firms. (ft.com) - How hyperscalers are accelerating data center construction. (wsj.com) - Derek Thompson talks with Max Spero, founder of Panagram, about the spread of AI writing. (derekthompson.org) 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) Housing - Conor Sen, "For their age, Gen Z is doing better on homeownership than the conventional wisdom." (conorsen.substack.com) - Ten facts about the housing market, including 'Nobody is moving.' (apollo.com) - Why Seattle's housing market is struggling. (bloomberg.com) Economy - Construction, outside of AI, is at recessionary levels. (bonddad.blogspot.com) - How much higher gasoline and diesel prices are costing American consumers. (axios.com) - Why didn't the U.S. go into recession in 2022-23? (ft.com) Earlier on Abnormal Returns - Research links: stock-specific volatility. (abnormalreturns.com) - What you missed in our Monday linkfest. (abnormalreturns.com) - Adviser links: the custody shift. (abnormalreturns.com)