House party

Plus, Bud Light enters the octagon...

*past 24-hour performance

  • Home sales defy rates: Despite the run-up in mortgage rates, new home sales stepped up last month; 759k new homes sold in September, at a seasonally adjusted annual rate, up from 676k in August and far more than the 680k economists expected (Reuters)

  • New GOP House speaker selected: Rep. Mike Johnson was chosen as the new House speaker after three other GOP candidates failed to garner enough support from ultra-conservative lawmakers. (AP)

  • Chip exports halted: The US government has instructed Nvidia (NVDA) to immediately halt certain AI chip exports to China, accelerating a previously announced timeline. BBC)

  • Bud Light enters the octagon: The UFC has named Anheuser-Busch's (BUD) Bud Light as its official beer, ending its previous deal with Modelo. This multiyear contract is part of Bud Light's broader strategy to regain its position as America's top-selling beer. (WSJ)

  • Alphabet falls 7%: Alphabet (GOOG) reported 11% revenue growth in the Q3, marking the first time it reached double digits in over a year. The shares dropped almost 7% in extended trading as the cloud business missed analysts’ estimates. (CNBC)

  • Germany surpasses Japan: Germany is reportedly set to overtake Japan as the world’s third-largest economy by the end of 2023. (Japan Times)

  • Another $1 billion ask: President Joe Biden will ask lawmakers for more than a billion dollars in additional humanitarian aid, amid growing worries over the impact of the wars in Ukraine and the Middle East on global food availability. (Bloomberg)

  • Ackman’s big bet on bonds: Billionaire hedge fund manager Bill Ackman, who traditionally invests in stocks, earned roughly $200 million from a bet against U.S. 30-year Treasury bonds (Reuters)

The wine industry’s best kept secret

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The convertible bond market is buzzing: The market for convertible bonds, the interest-paying securities that bondholders can choose to turn into common stock, is stirring again and attracting investors. Read more »

The gems hiding in plain sight in the treasury market: Back in 1994, bonds with fabulous yields were there for the taking. NYT columnists don’t see treasures like that now, but there are solid buys. Read more »

  • Best inventions of 2023 (TIME)

  • [Video] Ray Dalio & Bill Belichick: Building great teams (Ray Dalio)

  • Thanks to big data, landlords know how to squeeze the most out of renters (WSJ)

  • Why the US is the only country that ties your health insurance to your job (Vox)

Thunderclap Research is a professional investment research firm focused on understanding and profiting from market anomalies.

We take both a quantitative and qualitative approach to research and focus extensively on strategies for established money managers and everyday retail investors.

We are a small, self-funded team of real humans going up against the hype-filled, sensational news outlets in the world. You can check out a selection of our other publications below.

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