Wednesday links: issues that matter

MarketsCorporate credit spreads are tight. (morningstar.com)Everything working against the U.S. dollar right now. (ft.com)Tether is buying gold hand over fist. (theblock.co)So is the State Oil Fund of Azerbaijan. (ft.com)CryptoFidelity is launching a stablecoin. (wealthmanagement.com)What problem does tokenization solve? (coindesk.com)ETFsHow bond ladder ETFs work. (morningstar.com)A look at the puzzling performance of the ERShares Private-Public Crossover ETF ($XOVR). (jeffreyptak.substack.com)DeepSeekA look back at the DeepSeek freak out a year later. (spyglass.org)How DeepSeek changed the AI industry. (sherwood.news)EconomyHousehold balance sheets are putting governments to shame. (awealthofcommonsense.com)We are still waiting for a Supreme Court ruling on IEEPA. (ritholtz.com)In 2025 people pretty much stopped moving to Florida. (wsj.com)Earlier on Abnormal ReturnsPersonal finance links: hedging an uncertain future. (abnormalreturns.com)What you missed in our Tuesday linkfest. (abn