Today's Commentary · October 9, 2026

Oct. 9: Polly & hedging, database, equity, CE, fulfillment tools; company-specific prepayments; Dart acquires ACT

As my son Robbie and I prepare to head to Chicago this weekend for the “MBA National,” yesterday I was speaking with someone at the bar at Legs Inn in Northern Michigan. (Yeah, it’s somethin’.) We shouldn’t be afraid to talk about the economy, or politics, and I told her that I’ve been in capital markets for over 40 years and there are plenty of clever sayings about economics. One of them is, “The stock market is not the economy.” How good is the U.S....