AI Stocks Are Bouncing. The Bond Market Isn’t Buying It. 🌐 The .macro Letter

blockproof.macro “ Investors should be wary of sweeping generalizations about whether it’s time to buy or sell. — Howard Marks The .macro Letter ◼️ Monday, 19 October 2026 · Closing Hour◼️ Estimated reading time: 4 minutes The market spent Monday trying to make three incompatible-looking stories fit together: AI stocks were recovering, the debt behind the AI buildout still looked expensive, and American homebuilders were describing conditions last seen in 2012. If you wanted a neat verdict on...