The SEC rulemaking has been under legal siege under Gensler – here is one reason why.
“A recent study by Harvard Law School professor John Coates found that Wall Street has rushed to the 5th Circuit. Coates, who served as Gensler’s first general counsel at the SEC, says firms are challenging the regulator’s rules in court more often under the chair than his immediate predecessors. He said that, as of February, 80% of those challenges during Gensler’s tenure were in the 5th Circuit.“
This looks like a big deal – “The bridge RNA system is a fundamentally new mechanism for genome design,” said Dr. Patrick Hsu, senior author of the study and an Arc Institute Core Investigator and University of California, Berkeley Assistant Professor of Bioengineering. “Bridge recombination can universally modify genetic material through sequence-specific insertion, excision, inversion, and more, enabling a word processor for the living genome beyond CRISPR.“
Full Arc Institute blog here and AI simplified version here.
“The ABI score is a leading economic indicator of construction activity, providing an approximately nine-to-twelve-month glimpse into the future of nonresidential construction spending activity.“
Despite the doom and gloom, CRE prices have actually started to increase.
“Except for office prices, the nationwide CRE crisis is beginning to abate, with national CRE prices looking good, as well as apartments, retail, and industrial.“
Most indicators of health are still negative though.
The overturning of the so-called Chevron doctrine has huge far-reaching ramifications (Claude.ai summary via MR) in how the US writes, interprets, and implements administrative laws.
Here is a great detailed analysis (before the ruling) of its implications and path forward.
Everything but healthcare has seen very sharp cutbacks.
“What international comparisons tell us is that these cuts in public spending have moved the UK to the bottom of the G7 in terms of spending and taxation.“
“Hourly earnings growth slowed to 3.13% in May, recording the lowest level since June 2021 (2.90%).“
“One-month annualized hourly earnings growth was 2.11%, more than one percent below the year-over-year rate and the lowest level since November 2020 (1.74%).“
One thing we highlighted before for hyperscalers is how power efficiency (PUE is the ratio of total power consumed to the amount of power consumed by IT equipment) has flatlined.
