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The U.S. national debt is hurtling toward $40 trillion, and Bank of America Research strategist Michael Hartnett’s “Anything but Bonds” framework is becoming ever more applicable. Boiled down, Hartnett warns the US is accumulating too much debt, which causes the government to issue too many bonds—and investors want compensation for the fiscal risk—making long-duration Treasurys unattractive compared to other assets. Here’s why the climbing debt makes the advice worth a listen. The U.S. national debt stands at roughly $39.9 trillion in mid-August and is expected to cross the $40 trillion threshold as early as this week. According to the Treasury’s…

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Home Depot reported a very good quarter, executing well on things it can control, despite what CFO Richard McPhail called “frozen housing conditions.” The Club stock rose modestly in Tuesday’s down market. Revenue for Home Depot’s second quarter advanced 5.7% year over year to $47.86 billion, outpacing the $47.27 billion expected by LSEG. Earnings per share (EPS) increased 5.1% to $4.92, exceeding the LSEG-compiled $4.73 estimate. The July quarter ended Aug. 2. Same-store sales , or comps, increased 1.7% versus the year-ago period, nearly double the 0.9% estimate from FactSet and almost triple first-quarter comps of 0.6%. This is a…

U.S. President Donald Trump speaks during a news conference in James S. Brady Press Briefing Room of the White House on April 06, 2026 in Washington, DC.Alex Wong | Getty Images News | Getty ImagesPresident Donald Trump on Tuesday said the U.S. is not in any talks with Iran and has no plans to start new ones, though he continued to assert that the Strait of Hormuz is open and cleared of water mines.Trump’s claim on Truth Social abruptly contradicted his prior insistence that Washington and Tehran are in active negotiations, even as Iran has repeatedly stated that no such…

The public dislikes modern architecture but, generally speaking, they do not dislike modern bridges. Lists of the most awesome, most stunning, most beautiful bridges in the world will mention classics like London’s Tower Bridge, the Brooklyn Bridge, or the Rakotzbrücke but alongside them they will picture the Kubitschek Bridge in Brazil (Shutterstock). The Rio-Antirrio Bridge in Greece: or the Moses “Bridge” in the Netherlands. Whether you like these bridges or not, I don’t see in the literature an idea that modern bridges are all ugly or that modern bridge building has failed or fallen behind the great bridges of the…

Opinion: Curing the real’s infantile disease Valor International

Mortgage rates rose slightly due to a deepening bond-market selloff.

    The transcript from this week’s, MiB: Ankur Crawford, Portfolio Manager, Alger Capital Appreciation, is below. You can stream and download our full conversation, including any podcast extras, on Apple Podcasts, Spotify, YouTube (video), YouTube (audio), and Bloomberg. All of our earlier podcasts on your favorite pod hosts can be found here. ~~~ MASTERS IN BUSINESSBloomberg Radio  ·  Hosted by Barry Ritholtz Transcript: Dr. Ankur CrawfordExecutive Vice President and Portfolio Manager, Alger   00:00:08  BARRY RITHOLTZ: This week on the podcast, another extra special guest: Dr. Ankur Crawford is co-head portfolio manager of large cap strategies at Alger. She’s…

Listen to the audio version of this article (generated by AI). The S&P 500 surged above 7,800 for the first time ever last Thursday. That would normally be enough to make investors nervous. And there are a few reasons to wonder whether this rally is getting stretched. For example, the Atlanta Fed recently cut its third-quarter GDP estimate from 5.8% to 4.3%, largely in response to softer July retail sales. But much of that weakness reflected spending pulled forward into June by Amazon Prime Day, while other consumer categories remained healthy. So, I don’t view the downgrade as a major…

Listen to the audio version of this article (generated by AI). Bears’ math problem… why falling valuations point to more upside… the 680% winner to trim… how to position for AI today… Louis Navellier on why the Fed won’t hike… Bears have a math problem. Perhaps the biggest gripe against this bull market has been overvaluation – stock prices bid up to unsustainable levels by greedy investors who care little for fundamentals. Sure, some stocks have outrun their fundamentals. But that case gets hard to make across the board once you factor in forward earnings. In fact, the opposite is…