10 Friday AM Reads

My end-of-week morning train WFH reads:

1. Why Does Everything Feel Like a Scam? - Hanna Horvath explains the impact of price opacity, where every transaction starts to feel like a con when you no longer know what anything is supposed to cost.

2. Bond market signals trouble ahead. Bond prices are falling as investors are concerned about rising inflation eroding the value of their bonds and the U.S. government's habit of spending more money than it collects in taxes.

3. The bond market's safe haven status is fading. Two new studies indicate investors are less willing to accept low yields from Treasurys, which are widely used to price, hedge, and collateralize transactions in various markets.

4. The Index Fund Turns 50 - Vanguard's S&P 500 index fund, launched in 1976, now holds $1.67 trillion across all share classes, marking a significant milestone in the world of investing.

5. Read the Minutes, Fade the Presser - Claudia Sahm discusses the difference between the FOMC minutes and the press conference following the July 2022 Federal Open Market Committee meeting, noting an unusual meeting with Chair Kevin Warsh.

6. Commission capture over seller preference - Jonathan Miller exposes the practice of Compass, a real estate company, where agents often prioritize their own buyers over the seller's best interests, occurring 72% more often off-market.

7. Silicon Valley executives favor tech, but not for their own kids - David Streitfeld explores the phenomenon of tech executives supporting innovation in tech, but applying moderation and restraint when it comes to their own children's use of technology.

8. Gen. Christopher LaNeve dismantles drone unit - As the new Army Chief, LaNeve has ordered the dismantling of the drone assault battalion he stood up in Europe in January, signaling a shift in military strategy.

9. Natalie Harp: Trump's devoted aide emerges - Maggie Haberman delves into the life of Natalie Harp, President Trump's most devoted aide, her duties, and the unanswered questions surrounding her role in his administration.

10. Stolen masterpieces found in a cardboard box - Ellen Wexler reports on the recovery of Cézanne, Renoir, and Matisse paintings stolen from an Italian museum, with five suspects now in custody.