The stock market rose sharply today, with the S&P 500 index rising 2.15% on news that the government of Italy had reached a new budget agreement.

Bloomberg: “Italy Reaches Budget Accord as Juncker Warns About EU Rules”
Nation: “How Silicon Valley Hacked the Economy” by Zack Wasserman
Politico: “How to break the Brexit impasse: Reunite Ireland” by Patricia MacBride
CNBC: “BlackRock CEO Larry Fink: We saw huge outflows before last week’s plunge due to ‘more fear’ among investors”
CNBC: “Bank execs tell a good economic story and investors are finally starting to believe them”
Forbes: “The Bond King Speaks: Doubleline CEO Jeffrey Gundlach Offers His Best Investing Advice”

We do a formal disciplined analysis of all recession indicators and hold a weekly macro meeting to discuss if anything is changing. We think we can see forward as much as a year. If there are no signs of a recession, then bank loans are okay.

Atlantic: “Woodward Missed Everything That Matters About the Trump Presidency” by David Frum
Atlantic: “Was Gary Hart Set Up?” by James Fallows