Callum Thomas
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Articles by Callum Thomas
Weekly S&P 500 - Sunday, Nov. 8
1. Inversion Confluence: kicking off this week with an upside down chart for an upside down world. Currently the S&P500 is down almost -6% off the October 6th peak. That has the -inverted- S&P500 looking rather bullish, but for it to “break out” (not a good thing) it would need to clear the confluence of: short-term resistance + the 200-day moving average. This week will be literally make-or-break. 2.
Macro Pulse Check
First one below shows the US PMI accelerating in 2026 and pulling away from the pack (with rest-of-world having peaked back in April). But it also shows a repeating pattern of global rolling over first, US going it alone for a while (like it is again now) but then ultimately catching down to the rest of the world into slowdown and recession-run-in.
Weekly S&P 500 - Sunday, Nov. 1
1. Happy New Month! The S&P500 closed October down -0.93% on the month (meanwhile the equal-weighted index gained +4.9%, and Nasdaq off -6.7%), this places it still up +10.7% YTD (11.8% including dividends). With still 2 months to go for 2026 that’s a respectable YTD figure, but the last 5-months have basically been a range trade, and there are a few cracks appearing in the bull market narrative. 2.
Festival for the Future Returns for Sixth Year with theme of ‘Hope for the Future’
The Festival for the Future, the University’s award-winning sustainability festival, will return from 2 to 7 November 2026, bringing together staff, students, residents, businesses, artists, and community organisations for a week of events focused on climate action, nature, and community. Now in its sixth year, the Festival, formerly known as the Climate Action Festival, encourages people to explore how positive action at a local level can contribute to a more sustainable future.
Semi Shift
Depending how you look at it, this may be one of the most bullish or bearish charts out there on US semiconductors… and by extension one of the most important charts for the US stock market right now. US Semiconductors’ market cap weighting has surged to record highs. It brings immediate comparisons to the dot-com spike, but equally immediate counterpoints on how the earnings weight has also soared — the mantra is: it’s different this time because it’s backed by earnings.
Blood biomarkers of long COVID: A cross-sectional evaluation of key cytokines and the coordination of inflammation
Loading metrics Open Access Peer-reviewed Research Article Citation: Thomas C, Ashton RE, Pretorius E, Owen R, Nunes M, Pretorius JH, et al. (2026) Blood biomarkers of long COVID: A cross-sectional evaluation of key cytokines and the coordination of inflammation. PLoS One 21(10): e0360525. https://doi.org/10.1371/journal.pone.0360525 Editor: Kota V.
That Could Be Borderline Funny: How Filmmakers Create Fear
How do filmmakers create suspense? What makes a movie scene unforgettable? In this episode of Crime Scenes of Tinseltown, we explore the cinematography, sound, lighting and visual storytelling behind iconic scenes from Psycho, The Shining and Se7en with University of Lincoln film production expert Jack Shelbourn. In this episode, Brett Harman is joined by Jack Shelbourn, Programme Leader for Film Production and a cinematographer specialising in visual storytelling.
You Won’t Unsee It! The Sets Behind the Scares
What makes a film set memorable? How does production design create atmosphere, reveal character and make fictional worlds feel real? In this episode of Crime Scenes of Tinseltown, Brett Harman is joined by Jon Rowlands, Senior Lecturer in Media Production and Production Design Specialist at the University of Lincoln, to explore the art and craft behind some of cinema’s most iconic crime scenes.
Naughty Brad Pitt! Se7en’s Sloth Scene, What Would Real Forensics Find?
How accurate is the forensic science in Se7en? What really happens when forensic investigators arrive at a crime scene? And can DNA really tell you who committed a crime? In this episode of Crime Scenes of Tinseltown, Brett Harman is joined by Heather Grant, Lecturer in Forensic Science at the University of Lincoln and former forensic reporting scientist, to examine one of cinema’s most famous crime scenes and put Hollywood’s forensic investigation under the microscope.
The Shadow Self: Writing The Shining – Psychology, Trauma and Terror
What makes Jack Torrance one of cinema’s most unsettling characters? Why does The Shining remain so psychologically disturbing more than 40 years after its release? And what can writers learn from Stephen King’s approach to character, trauma and tension?
KOSPI Crash: Is It Cheap Yet?
Depending on how you look at it your answer might be either: • Yes, decent reset, looks cheap now. [Trailing PE ratio] • Hmm, not yet, still looks expensive. [PE10/Shiller PE] As with all things it depends how you look at it (chart below compares). Each of those different PE ratios have different strengths/weaknesses.
Weekly S&P 500 Charts - Sunday, Oct. 18
1. S&P500 Mixed Picture: it’s more of the same mixed picture with the S&P500 cap-weighted (headline) index chopping about; this week held back by semiconductors (e.g. SMH down -10% and the chips-heavy KOSPI down -15%). But meanwhile breadth is healing and the equal-weighted S&P500 is now +3% up off the lows. 2. Small Cap Correction: also under pressure is US small caps, dropping -3% last week, now down -11% off the high.
LatAm Value
LatAm equities offer deep value as PE10 ratios sit well below historical averages and US peers. The latest hot topic in Global Equities is LatAm, and for good reason. EWZ (Brazil) jumped +20% over the past 2 weeks, and ILF (LatAm40) is up over 25% YTD. Big moves, especially for an often overlooked part of the markets — but the follow-up question is this: did we miss it? is it already done? (…or is there room to run?) This week’s chart goes a long way towards answering that question.
Weekly S&P 500 Charts - Sunday, Oct. 11
1. Technical Check: after a sizeable selloff, the equal-weighted S&P500 is ticking up off the lows —breadth is also ticking up after a hefty reset. The headline cap-weighted S&P500 is also looking to be shaking-off its period of relative stagnation; likewise ticking up and even notching-up a new all-time-high. 2. Seasonality -did- work after all?
University of Lincoln and University of Florida Forge International Partnership in Agri-Tech
The University of Lincoln and University of Florida have signed a new agreement to strengthen international collaboration in agri-tech research, innovation and commercialisation. A new Memorandum of Understanding (MoU) establishes a framework for long-term collaboration between the two universities, connecting expertise in the UK and United States to help address some of the major challenges facing agriculture and global food systems.
The Big Question For Bonds
Charting the big picture outlook for bond yields +thoughts on the US dollar, US treasuries, EM fixed income, software stocks, and monthly TAA review... The big question for bonds is laid out plain and simple in this week’s chart. The question = is this 1920? or 1967? 1920: US 10-year treasury yields poked their head above the long-term average, peaked shortly after, and then declined.
Weekly S&P 500 Charts - Sunday, Sept. 27
Learnings and conclusions from this week’s charts: • The equal-weighted S&P500 is down more than 5% off the peak. • Breadth has been beaten down, and traders have been raising cash. • Valuations remain a concern with several metrics still historically elevated. Overall, there are clear signs of a “stealth correction”, which may be just the sort of healthy reset the market needed before getting into a possible Q4 seasonal upswing.
Capex And Bonds
This week we’re looking at how the global capex boom is driving bond yields higher (+clues on the next steps for bonds). The chart below shows the 5-year annualized growth of Capital Expenditures by global listed companies vs the global average 10-year government bond yield. There is a strong link between the two, and I’ll explain why. But first, what’s up with that big disconnect in 2007-2011?
Weekly S&P 500 Charts - Sunday, Sept. 20
Learnings and conclusions from this week’s charts: • Foreign flows into US stocks are surging (record highs). • CEO confidence, ISM PMIs, and freight data are turning up. • Much of the index are heading into a buyback blackout window. Overall, there is a lot of good news on the earnings and economy front as a broader cyclical upturn gets underway. But there are still lingering macro/(geo)political risks and market warning signs that could derail this renewed upturn… 1.
Theme In Focus: Global Equities
I wanted to share this topic from a because it answers a few key questions, raises a couple more, and helps put into context today’s Fed rate hike decision. Firstly, on that note, in case you missed it, the US Federal Reserve just hiked rates +25bps to 4% — , this is exactly what they should be doing, and we probably will see more hikes (my indicators say another ~100bps are required).
IPO Trends - The New Boom
One of the most stark (and most commented on) charts from the latest S&P500 ChartStorm showed total US equity issuance on track to shatter the record books. I commented that it made logical sense: it’s basically the perfect environment to raise equity capital …. valuations are near record highs, the system is awash with liquidity, and there are clear signs of excess optimism.
Chart: Valuations and Allocations
The chart below should be studied carefully by every student of the markets. It tells us a lot about how markets move, how things change, how investors behave, and how to think about markets as a long-term active investor.
Greater Lincolnshire Unites Behind £324,000 Investment to Create the Next Generation of Creative Talent
An unprecedented partnership of councils, education providers and the creative sector has come together to invest £324,000 to transform creative careers across Greater Lincolnshire, creating new jobs and apprenticeships. Lincoln Arts Centre and Barbican Creative Hub, based at the University of Lincoln, have been awarded up to £219,454 from Arts Council England (Midlands) for the Routes In – Greater Lincolnshire Place Partnership project.
Lights. Camera. Crime Scene: University of Lincoln Puts Hollywood Under the Microscope
What would a real forensic scientist make of Se7en‘s infamous ‘Sloth’ scene? Brett Harman, better known as Brettflix, is on a mission to find out. After interviewing some of Hollywood’s biggest names, including Steven Spielberg, the University of Lincoln graduate is returning to his roots to pair cult classics with expert insight in Crime Scenes of Tinsel Town.
Born to Be Violent? The Criminology Behind Cinema’s Infamous Killers
What can Psycho, The Shining and Se7en tell us about real-world violence and criminology? In this episode of Crime Scenes of Tinseltown, Brett Harman is joined by Anthony Ellis, Associate Professor in Criminology at the University of Lincoln, to put some of cinema’s most notorious killers and violent characters under the criminological microscope.
University of Lincoln Creative Arts Team Wins Prestigious National Teaching Award
A pioneering student and staff co-led arts initiative at the University of Lincoln has received national recognition for the way it connects teaching, creative practice and professional industry experience. The Lincoln Company (TLC), based at Lincoln Arts Centre and delivered through the Lincoln School of Creative Arts, has been awarded the Advance HE Collaborative Award for Teaching Excellence (CATE).
University Of Lincoln Launches New ‘Get Real World Useful’ Advertising Campaign
The University of Lincoln has launched a new advertising campaign, Get Real World UsefUL, which uses humour to highlight the practical value of higher education and the skills graduates develop for the workplace. Through two social-first films, the campaign explores what it means to be “useful” in everyday situations, while responding to wider conversations about the value of university education and the careers graduates go on to build.
Training Microbes to Prepare Soils for the Impacts of Climate Change
By Callum Thomas The study, led by Professor Matthew Goddard at the University of Lincoln, has shown that naturally occurring soil microbes can be "trained" to better tolerate saltier conditions, potentially helping farmers maintain crop yields as climate change continues to alter agricultural environments.
Training microbes to prepare soils for the impacts of climate change
Credit: University of Lincoln Scientists at the University of Lincoln have discovered a promising new way to help protect crops from one of climate change's growing threats to global food production—increasing soil salinity.
Author Correction: Current status and future perspectives on the mechanistic and pathophysiological understanding of long COVID
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Correction to: Communications Medicine https://doi.org/10.1038/s43856-025-01300-z. published online 29 April 2026 In the version of this article, Micheal Natt (Lived Experience Expert, Coventry, UK; Northwest Lung Centre, Manchester University Hospitals, Manchester, UK) was listed with a third, incorrect affiliation.
By Mark A. Faghy, Rob Wüst, Daniel M. Altmann, Ruth EM Ashton, Sarah McMullen, Rae Duncan, Andrew Ewing, Elke Hausmann, Sanjay Gupta Verified, Mady Hornig, David Joffe, Binita Kane, M. Asad Khan, Micheal Natt, Rebecca Owen, David Putrino, Lindsay Skipper, Claire Taylor, Callum Thomas, David Tuller, Danielle Beckman, Arneaux Kruger, Etheresia Pretorius
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Nature
Verified
Lincoln Researchers Find Way to Prepare Soils for the Impacts of Climate Change
Scientists at the University of Lincoln have discovered a promising new way to help protect crops from one of climate change’s growing threats to global food production – increasing soil salinity.
NHS Investment in Dentistry is Welcome – But Lincolnshire Needs a Long-Term Workforce Solution Too
By Dr Richard Moore, Vice Dean of Dentistry, Lincoln Medical School, University of Lincoln The announcement by NHS Lincolnshire Integrated Care Board that more than £3 million will be invested to provide around 29,000 additional NHS dental appointments each year across Lincoln, Boston and Skegness is very welcome news. For patients and families across Lincolnshire, access to NHS dentistry has become one of the most pressing health challenges of our time.
University Awarded Government Investment in Engineering Skills for Defence, Aviation and Advanced Manufacturing
The University of Lincoln has welcomed confirmation that it is among 24 universities and colleges awarded funding through a major Government initiative designed to strengthen the UK’s future engineering and technology workforce.
Ice Cream Van Hits the Road to Help Turn Lincolnshire’s “Dental Desert” into a Dental School
A touring ice cream van will travel from the Lincolnshire coast to Westminster this summer as part of a campaign calling for a dental school to be established in the county. The University of Lincoln’s Dental Desserts Tour, part of the University’s Strong Roots campaign, will visit communities across Lincolnshire this month, handing out free toothpaste-inspired ice cream and encouraging residents to share their stories and add their names in support of the call for a dental school in the county.
Fusion Energy Leaders Gather in Lincoln as University Hosts Major Industry Events
Regional leaders and representatives from government, industry and academia are visiting the University of Lincoln this week as it hosts several significant events exploring the future of fusion energy in the UK.
A hypothalamic circuit for anticipating future changes in energy balance
Keywords hunger hypothalamus AGRP neurons neuroscience metabolism homeostasis feeding food intake energy balance appetite Get full text access Log in, subscribe or purchase for full access. References 1. Deem, J.D. ∙ Faber, C.L. ∙ Morton, G.J. AgRP neurons: Regulators of feeding, energy expenditure, and behavior FEBS J. 2022; 289:2362-2381 2. Andermann, M.L. ∙ Lowell, B.B. Toward a Wiring Diagram Understanding of Appetite Control Neuron. 2017; 95:757-778 3. Aponte, Y. ∙ Atasoy, D.
University of Lincoln Ranked Among UK’s Top Universities for Student Start-ups
The University has been named the top university in the Midlands for student start-ups after climbing to sixth place nationally in new rankings from the Higher Education Statistics Agency. The ranking reaffirms Lincoln’s standing as one of the country’s leading universities for student entrepreneurship.
University Wins Chelsea Recognition for AI-Driven Plant Science Exhibit
The University of Lincoln has been awarded a prestigious Silver Gilt medal at the RHS Chelsea Flower Show 2026 for its RoboCrops: Plant Selection, Beyond the Visible exhibit, showcasing how robotics, artificial intelligence and plant science are helping shape the future of horticulture.
Current status and future perspectives on the mechanistic and pathophysiological understanding of long COVID
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Abstract Viral and infectious illnesses can exert profound and enduring effects on population health and well-being. In the aftermath of SARS-CoV-2 infection, post-acute sequelae, collectively referred to as Long COVID, have emerged as a major global health challenge, affecting more than 400 million people and contributing to estimated annual economic costs exceeding $1 trillion.
By Mark A. Faghy, Rob Wüst, Daniel M. Altmann, Ruth EM Ashton, Sarah McMullen, Andrew Ewing, Elke Hausmann, Sanjay Gupta, Mady Hornig, David Joffe, Binita Kane, M. Asad Khan, Rebecca Owen, David Putrino, Lindsay Skipper, Claire Taylor, Callum Thomas, David Tuller, Danielle Beckman, Arneaux Kruger, Etheresia Pretorius, Rae Duncan, Micheal Natt
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Nature
Verified
University of Lincoln Heads to RHS Chelsea
Next month the University of Lincoln will be one of a select number of universities to exhibit at the prestigious RHS Chelsea Flower Show, showcasing how robotics, artificial intelligence and plant science are shaping the future of horticulture.
Strong Roots Campaign Launches to Tackle ‘Dental Desert’ Crisis and Build the Workforce Lincolnshire and Britain Needs
A major new campaign, ‘Strong Roots for Oral Health’, has launched to address the growing dental workforce crisis and improve access to NHS dentistry, starting in some of the hardest-hit communities in the country. Led by the University of Lincoln, the campaign calls for a new approach to how the UK trains dentists, rooted in the communities where need is greatest, and invites the public to back a bold, ready-to-deliver solution.
University Welcomes Major Government Investment to Accelerate Innovation and Growth in Greater Lincolnshire
The University has welcomed today’s announcement that Greater Lincolnshire has been selected to progress in the UK Government’s Local Innovation Partnerships Fund (LIPF), with up to £20 million available to accelerate innovation-led growth across the region. The funding recognises Greater Lincolnshire as a nationally significant centre of excellence in agri-tech and defence – two sectors where the University of Lincoln plays a leading role nationally in research, skills and innovation.
University Of Lincoln Shaping the Future of Clean Sport
From developing a world-first AI anti-doping tool to shaping international policy and advising UK Parliament, academics from the University of Lincoln are playing a leading role in ensuring sport is safe, fair and, accessible at all levels. Led by Professor Lambros Lazuras and colleagues in the University’s School of Psychology, Sport Science and Wellbeing, this work brings together behavioural science, policy insight, and innovation to tackle emerging challenges in doping and public health.
Are Humans Naturally Violent? Scientists Challenge Long-Held Assumptions
New research examining aggression across primate species suggests that everyday conflict and lethal violence may not share the same evolutionary roots. By separating mild and extreme forms of aggression, the study raises new questions about long-held assumptions regarding the biological basis of human violence. Credit: Shutterstock Mild aggression and lethal violence evolved separately, according to research across 100 primate species.
University Research Calls for “Workers-First” Approach to Technology in Hospitality
New research from the University of Lincoln, in partnership with the British Academy, is urging employers and policymakers to place workers at the centre of technological change in the UK hospitality sector, as digital systems and automation rapidly reshape the industry.
New ‘Circular Farm’ to Turn Crops into Clean Fuel and Food in UK First
A major new £2.4m farming project aiming to turn crops into both food and low-carbon fuel has launched in Lincolnshire, in what researchers say could offer a blueprint for the future of English agriculture.
Are humans naturally violent? New research challenges long-held assumptions
Callum Thomas New research from the University of Lincoln, UK, is challenging a common assumption about the evolutionary origins of human violence, suggesting that everyday aggression does not inevitably lead to lethal conflict. The study, published in the journal Evolution Letters , finds that mild aggression and lethal violence appear to have evolved along different pathways, offering new insight into one of the most enduring debates about human nature.
University and NHS Partnership Brings Patient’s Lived-Experience Art to Boston’s New Mental Health Facility
Co-created by patients, clinical staff, the University of Lincoln, and local students through a partnership with Lincolnshire Partnership NHS Foundation Trust (LPFT), newly unveiled artwork at Boston’s Acute Mental Healthcare Unit brings the landscapes of South Lincolnshire and carefully designed sensory imagery into spaces intended to promote connection, calm and recovery.
Are Humans Naturally Violent? New Research Challenges Long-held Assumptions
New research from the University of Lincoln, UK, is challenging a common assumption about the evolutionary origins of human violence, suggesting that everyday aggression does not inevitably lead to lethal conflict. The study, published in the international journal Evolution Letters, finds that mild aggression and lethal violence appear to have evolved along different pathways, offering new insight into one of the most enduring debates about human nature.
University Launches ‘No Regrets’ Partnership with Rapha Lincoln Grand Prix
The University of Lincoln along with the organisers of the Rapha Lincoln Grand Prix today announced a landmark three-year partnership, becoming a major sponsor of one of the UK’s most prestigious elite cycling events. Famous for its punishing cobbled climb and vibrant atmosphere, the Rapha Lincoln Grand Prix returns for its 70th edition on Sunday 10 May.
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