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1. Hyperscaler Net Issuance of Debt

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2. Buyback Blackout Period Starting Now

We are now deeply into the buyback blackout period with just around a third of discretionary buybacks by index weight for S&P 500 companies active this week (discretionary buybacks represent ~30% of all buybacks), and it won’t get back above that until we get into November.

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3. Private Equity Stocks Roll Back Over as Rates Rise and IPOs Get Cancelled…..S&P vs. Apollo, KKR, and Blackstone

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4. AI Related Stocks 53% of S&P

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5. ARTY AI ETF Makes New Highs….After -25% Correction this Summer

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6. AI Based American Wealth Another Level

Bloomberg By Kristine Owram  The boom in AI valuations has created unprecedented wealth for founders, early-stage investors and employees lucky enough to get stock options.  Even among the very richest people in the world, the divergence between the AI haves and the everyone-else-have-nots is stark. Tech billionaires account for all of the $845 billion in wealth gains on the Bloomberg Billionaires Index so far this year, while those who made their fortunes outside technology lost a combined $62 billion.

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7. Real Estate ETF IYR at Lowest Level Ever vs. S&P

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8. Political Double Haters on the Rise Going into Mid-Terms

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9. Reality of 6-Figure Blue Collar Jobs

Washington Post By Danielle Douglas-Gabriel  The findings counter an emerging narrative about the prevalence of six-figure jobs in the skilled trades that don’t require higher education. Politicians and business leaders have touted careers in electrical work, HVAC and plumbing earning more than $100,000, arguing that a four-year degree is unnecessary for financial security.  While those jobs offer healthy salaries, research shows their median earnings are more modest than salaries for less common occupations that don’t require a bachelor’s degree.

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10. Get Unstuck

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