On Magnificent US Earnings, AI’s Impact On Jobs & UK’s Woes

“Truly magnificent!” are Joe’s words for the collective March-quarter earnings strength of the S&P 500 companies that have reported results so far. He shares his takeaways from the data. … Also: Melissa scours employment data to learn how much creative destruction AI has wrought so far. Over time, we think AI will create as many jobs as it destroys. … And: Political instability in the UK has driven 10-year gilt yields to highs not seen since the 2008 financial crisis. What’s spooking bond investors, explains William, is the prospect of a less fiscally responsible prime minister if Keir Starmer steps down. Another big uncertainty is whether the BOE will tighten monetary policy to quell higher inflation.