Tuesday links: a meme asset

Quote of the Day "Gold can be viewed as a meme asset that reflects investors’ fears." (Mark Rzepczynski) Bonds - Now would be the wrong time to panic about your bond allocation. (whitecoatinvestor.com) - Trailing real bond returns have rarely been so poor. (mrzepczynski.blogspot.com) - The Treasury failed to term out debt during ZIRP. (ritholtz.com) Markets - It's time to come to terms with market concentration. (awealthofcommonsense.com) - Earnings revisions have been positive for 21 straight weeks. (fa-mag.com) Finance - Anthropic and OpenAI are seeking investment grade credit ratings, post-IPO. (ft.com) - Robinhood ($HOOD) is an underwriter for the Oura Health IPO. (wsj.com) - A $6.2 billion 'seed round' is an oxymoron. (anildash.com) - Reputations matter on Wall Street. (ft.com) ETFs - How TIPS ladder ETFs work. (obliviousinvestor.com) - Who really owns a white-label ETF? (etfcentral.com) - Lessons learned from all the ETFs that iShares has closed. (mutualfundobserver.com) AI - Corporate America is turning to open source AI models. (nytimes.com) - AI companies are releasing new models at a rapid clip. (cnbc.com) - Are we sleepwalking into an AI apocalypse? (theargumentmag.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) Global - Canada's retaliatory tariffs are now in effect. (bnnbloomberg.ca) - Japan is now taking its own defense seriously. (theatlantic.com) - Patrick O'Shaughnessy talks with Walter Russell Mead about the new global order. (youtube.com) - If Taiwan can't trust the U.S., is a deal with China inevitable? (theatlantic.com) - The UN voted to adopt a resolution for the world to formally phase out the traditional Mercator map of the globe. (theguardian.com) Jobs - AI's effect on the jobs market is rolling out more slowly than expected. (newyorker.com) - A jobs gap is growing between college grads and high school grads. (wsj.com) - Women accounted for 98% of the 162,000 jobs the US added in August. (semafor.com) Earlier on Abnormal Returns - Research links: a meaningful shift. (abnormalreturns.com) - Adviser links: managing client transitions. (abnormalreturns.com) - What you missed in our Sunday linkfest. (abnormalreturns.com) - Top clicks last week on Abnormal Returns. (abnormalreturns.com)