I buy league pass every year so mostly watch at home, but in the past I have watched a few playoff games at the Philly-themed bar/restaurant Passyunk Avenue

re reserve status "nonsense". Are these important underpinnings?

- institutional stability/predictability
- confidence in the rule of law
- growth/productivity outperformance
- C/A deficits sustaining absorption of USTs
- leadership in maintaining global economic and geopolitical status quo

Agree. On the upside, this signals plenty of fiscal space if they want to use it.

Tariff man cometh