ted kang
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hi, I’m Ted.

DATA& ideas.

01 / The economyMacro chartsThe cycle, in context. 02 / Digital assetsCrypto chartsPrice, risk and the network. 03 / The researchResearchIdeas worth exploring. 04 / The daily viewMarket IntelThe day, in charts.
01 /Research
Full archive ↗

Ideas worth a closer look.

Original isometric illustration of AI capability, access and economics.
AI infrastructure / Deep dive

The AI Model Reset: Cheaper Intelligence, Harder Business Questions

A detailed visual review of September’s AI model releases, token economics, personal agents and business implications, with a release explorer and task-cost calculator.

Sep 28, 2026 · 23 min read
Original optical-link diagram showing electrical data, a driver, a modulator, a parallel laser supply, fiber and receiver components.
AI infrastructure / Primer

Inside the Optical Data Center: How Light Connects AI

A deep visual primer on lasers, fiber, networking, and the design choices that turn individual processors into a useful AI system.

Sep 16, 2026 · 34 min read
Original layered board diagram showing glass fabric, copper foil and laminate beneath AI connectivity.
Semiconductors / Industry research

The Materials Behind the AI Bottleneck

Glass fabric, copper foil, laminate and fiber: why material content per system can rise faster than shipments, and where the shortage thesis still needs evidence.

Sep 14, 2026 · 11 min read
Original diagram linking dedicated GPU hardware, rental contract terms and economic useful life.
AI infrastructure / Explainer

Bare Metal: Understanding GPU Rental Economics

What customers rent, what revenue per watt means, and why contract terms and a GPU’s economic life determine the return.

Sep 14, 2026 · 5 min read
Original diagram showing Credo’s progression from active electrical cables to optics and scale-up connectivity.
Semiconductors / Company research

Credo’s Next Act: From Copper Cables to AI Connectivity

How AECs, optics and retimers could broaden Credo’s connectivity business, with reported results, concentration and execution risks alongside the thesis.

Sep 14, 2026 · 11 min read
Original system diagram connecting a business service to identities, devices, applications, networks and data.
Cybersecurity / Primer

Inside Cybersecurity: The Systems That Decide Who Can Do What

A visual primer on digital trust, the businesses that protect it, and what changes when software starts acting on our behalf.

Sep 14, 2026 · 33 min read
02 /Macro charts
All charts ↗

A view of the cycle.

10Y real yield

2.85%
+9 bps vs prior observation
Sep 24, 2026Daily

2s10s yield curve

0.36 pp
+0.05 pp vs prior observation
Sep 25, 2026Daily

Fed balance sheet

$6.75T
+$1.2B vs prior week
Sep 23, 2026Weekly

Headline CPI · YoY

3.35%
+0.05 pp vs prior month
Aug 2026Monthly

10Y Treasury yield

5.18%
+7 bps vs prior observation
Sep 24, 2026Daily

2Y Treasury yield

4.87%
+2 bps vs prior observation
Sep 24, 2026Daily

Unemployment rate

4.10%
0.00 pp vs prior month
Aug 2026Monthly

Effective fed funds rate

3.63%
0 bps vs prior month
Aug 2026Monthly

Continuing jobless claims

1.72M
+2K vs prior week
Sep 12, 2026Weekly

Labor force participation

61.60%
+0.20 pp vs prior month
Aug 2026Monthly

Corporate profits after tax

$4.30T
+$351.7B vs prior quarter
Q2 2026Quarterly

Core CPI inflation

2.45%
−0.02 pp vs prior month
Aug 2026Monthly

Effective fed funds · daily

3.88%
0 bps vs prior observation
Sep 24, 2026Daily

Gross domestic income

$32.25T
+$670.9B vs prior quarter
Q2 2026Quarterly

Gross domestic product

$32.49T
+$620.3B vs prior quarter
Q2 2026Quarterly

Gross national product

$32.56T
+$632.9B vs prior quarter
Q2 2026Quarterly

Gross private domestic investment

$5.72T
+$83.9B vs prior quarter
Q2 2026Quarterly

Housing starts

1.28M
−34K vs prior month
Aug 2026Monthly

Initial jobless claims

197K
−1K vs prior week
Sep 19, 2026Weekly

Industrial production

103.07
+0.02 pts vs prior month
Aug 2026Monthly

Job openings

7.27M
+89K vs prior month
Jul 2026Monthly

Quits rate

1.90%
−0.10 pp vs prior month
Jul 2026Monthly

M1 money supply

$19.99T
+$104.6B vs prior month
Aug 2026Monthly

M2 money supply

$23.34T
+$124.9B vs prior month
Aug 2026Monthly

30-year fixed mortgage rate

7.03%
+8 bps vs prior week
Sep 24, 2026Weekly

Nonfarm payroll employment

159.08M
+162K vs prior month
Aug 2026Monthly

PCE inflation

3.70%
−0.02 pp vs prior month
Jul 2026Monthly

Core PCE inflation

3.34%
+0.00 pp vs prior month
Jul 2026Monthly

Personal saving rate

3.00%
+0.40 pp vs prior month
Jul 2026Monthly

Overnight reverse repo

$0.00T
−$0.1B vs prior observation
Sep 25, 2026Daily

Retail and food-services sales

$773.9B
+$9.49B vs prior month
Aug 2026Monthly

Sahm Rule recession indicator

-0.07 pp
−0.04 pp vs prior month
Aug 2026Monthly

Capacity utilization

76.27%
−0.05 pp vs prior month
Aug 2026Monthly

Currency in circulation

$2.48T
−$2.0B vs prior week
Sep 23, 2026Weekly

Treasury General Account

$0.98T
+$100.1B vs prior week
Sep 23, 2026Weekly
Swipe to explore 1–4 / 35
03 /Crypto charts
All charts ↗

Another lens on the cycle.

Swipe to explore 1–4 / 50
04 /Market Intel
Daily archive ↗