To The Moon

California’s Wildfire Bill Turns PCG and EIX Back Into High-Risk Assets One-line takeaway: Utility stocks may offer protection against the economic cycle, but they are not necessarily protected from wildfire liabilities, regulatory changes or the legal risks of a single state. The biggest individual stock moves in the U.S. market on Monday did not come from the technology sector, but from traditionally “defensive” stocks. PG&E $PG&E Corp(PCG)$ fell 20.1%; Edison International $Edison(EIX)$ dropped 23.1%; Sempra $Sempra(SRE)$ declined 3.1%. The trigger was a California wildfire bill. The final version did not in

[Miser]Hi~ Tigers The past two weeks gave AI/semiconductor investors a case study in whipsaw. $NVIDIA(NVDA)$ delivered a blowout quarter that beat expectations across the board — and the stock still popped on the print — yet the move came against a backdrop where Fed Chair-designate Kevin Warsh used his Jackson Hole remarks to put inflation, not growth, back at the center of policy, and rate-hike odds for September jumped sharply overnight. At the same time, long-end Treasury yields pushed toward multi-year highs before a Treasury buyback operation — nicknamed the "Bessent Put" — triggered a technical bond rally. None of this cancels the AI buildout story. But it does mean the trade is no longer just "AI is strong, buy the chip sto

Regional-bank shares enter September between two opposing rate scenarios. Strong employment can protect credit quality but keep funding costs high; weak employment can encourage eventual rate relief while increasing loan losses. This week’s JOLTS and payroll releases may determine which interpretation dominates. The Bureau of Labor Statistics scheduled July job-openings data for September 1 and the August employment report for September 4. The official BLS calendar confirms the release dates. The previous employment report, released August 7 for July, showed nonfarm payrolls falling by 23,000 while unemployment held at 4.1%. The BLS July report provides the baseline. The bullish case for regional banks is a controlled slowdown. Moderate hiring and stable unemployment can reduce the probabi