Monday Morning Links Week 43

Global stock-related links

Oct 23, 2023

∙ Paid

I enjoyed Jens Nordvig’s discussion of where we are in the US rates cycle. His view is that inflation is trending lower, and as core PCE drops closer to the 2% target, we could see the 10-year at 3.5%. Fed governors also seem to guide for a pause, yet the market doesn’t believe them.

I also liked Andrew Walker’s interview with Jonathan Boyar, discussing Topgolf Callaway Golf, which owns the driving range operator Topgolf and the golf club brand Callaway. It’s clear that Topgolf is an incredible franchise with long-term growth potential, but it’s facing near-term headwinds due to high interest rates. On the positive side, Topgolf Callaway Golf insiders are buying en masse.

Americas:

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