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...The market reaction on Wednesday was big. Stocks fell, futures markets further lowered rate cut expectations, and yields surged across the curve, led by the two-year which was up 23bp....
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...“What you’re seeing now is a handful of super-ultra-wealthy individuals — plutocrats that, I guess, you would call philanthropists — who have incredible leverage over higher education,” says Isaac Kamola...
...Charles Schwab and Fidelity, for example, use some self-constructed indices or cheaper brand variants for a lot of their suites of super-cheap ETFs and index funds....
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...the accompanying chart, which looks a bit like a Chelsea FC player were liquidated and dripped, Jackson Pollock-style, onto some axes for maximum messiness: The fundamental conclusion, ultimately, isn’t super...
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