January 25, 2026 Edition
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Two Graphs
The ICE BofA US Corporate Index Option-Adjusted Spread fell to 0.73% in January 2026, close to its lowest level in nearly 30 years and significantly lower than spikes seen during the 2008 financial crisis and the 2020 pandemic.
After Trump takes office in 2025, native-born unemployment rises notably, while foreign-born unemployment stabilizes and then declines—a significant divergence that contrasts with prior trends where both groups moved similarly.
Headlines
Bill Gates Makes a Multibillion-Dollar Divorce Payout (NY Times) … The boss who gave his employees a $240 million gift (WSJ) … Two people shot by federal agents in Portland, Ore. (WSJ) … SK Hynix plans to invest $13 billion in new chip packaging plant (Bloomberg) … Consumers Love Cheap Gas, but the Oil Patch Will Pay the Price (WSJ) … Alibaba teams with China’s nuclear leader to power AI expansion (Bloomberg) … Iran Edges Closer to a Revolution That Would Reshape the World (Bloomberg) … Tech titans prospered in the first year of Trump’s return to power (FT) … ‘We Need to Be the News’: Inside Bari Weiss’s Bumpy Revamp at CBS (NY Times) … Uber Faces Growing Pressure Over Sexual Assault Record (NY Times) … BofA's Moynihan left off World Economic Forum headline list (FT) … Intel shares slide 11% as supply issues limit growth (FT) … Banks (FT) … Markets Wrap Stock Relief Rally Extends With Boost From Tech (Bloomberg) … Polymarket (FT) … US companies expand workforce to combat labor shortages (FT)