Listening How Microsoft CEO Satya Nadella ‘listens’ to podcasts. (techcrunch.com) You don’t listen to podcasts just for the information. (moontower.substack.com) How Kara Swisher became a podcasting giant. (nytimes.com) Melania...

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....

Books An excerpt from “Empire of AI: Dreams and Nightmares in San Altman’s OpenAI.” (theatlantic.com) An excerpt from “Superbloom: How Technologies of Connection Tear Us Apart” by Nicholas Carr. (behavioralscientist.org)...

Markets High yield bonds have bounced back. (morningstar.com) Short interest is ticking higher. (ft.com) Companies Retailers have only so much margin to sacrifice to tariffs. (nytimes.com) Some additional tariff math. (axios.com) AI OpenAI is buying...

Podcasts Christine Benz talks with JL Collins about the revised edition of “The Simple Path to Wealth: Your Road Map to Financial Independence and a Rich, Free Life.” (morningstar.com) Dan Haylett talks with Fritz Gilbert about his...

Finance Battery maker CATL is now public. (semafor.com) The SEC is losing staff and its willingness to enforce rules. (on.ft.com) Fund management Timing the market is hard: the case of the Pacer Trendpilot US Large Cap ETF ($PTLC). (morningstar.com)...

Round-ups Some recent academic research including ‘Cross-Bond Momentum Spillovers.’ (alphainacademia.substack.com) A round-up of recent research on asset allocation including ‘A Century of Macro Factor Investing – Diversified...

Markets The 30-year Treasury yield now exceeds 5%. (ft.com) You are not smarter than Mr. Market. (ritholtz.com) Finance How active will Warren Buffett be as Chairman of Berkshire Hathaway ($BRK.A)? (newsletter.rationalwalk.com) Why traditional asset...

Podcasts Michael Kitces talks with Ed Slott about the benefits of becoming an IRA expert. (kitces.com) Matt Zeigler and Jack Forehand talk with Wade Pfau about the dangers of sequence of returns risk. (youtube.com) Advisortech How Robinhood’s...

Downgrade Moody’s ($MCO) just downgraded the credit rating of the U.S. (cnbc.com) The downgrade is largely symbolic. (disciplinefunds.com) Does the downgrade matter? (on.ft.com) Market timing Cash is a drug for investors....