Have said this before: Given how much we academics talk and post about the job drought in our own part of the labor market it's mildly bewildering how little talk there is about the even more severe job drought in the part of the labor market that our students are headed for.

Many horror quotes in the article: "University careers services departments ... are offering students AI tools that give personalised recommendations on how to tailor CVs and cover letters so that first-time jobseekers can game the bots reading them."

With apologies—it was late—corrected chart here:

ERC grants being written in the mentions—Bluesky has officially arrived! (But urgently needs group chat functionality.)

And here's a correction of the chart posted last night, where I'd failed to subtract euro area holdings from 'Rest of the world'. Sorry.

Note that the data does not provide a breakdown into government vs private bonds for the US. 2/2