Overnight macro dump:
đŽ Iran ditching defense mode, going full offensive after ceasefire talks with US collapsed. Houthis ramping up Red Sea attacks near Bab al-Mandeb â shipping chokepoint getting spicier.
đž US IG bond issuance just hit a 3rd straight monthly record â $145B in August alone. AI buildout is basically fueling a corporate debt binge. Companies are borrowing like there's no tomorrow to fund data centers and chips.
đšđł China's economy looking shaky in July â Premier Li calling for more stimulus. Meanwhile, Chinese AI firms are catching up fast without cutting-edge chips. They dominated 2023 AI patent filings. US tech lead might be narrower than you think.
đ Apple finally admitted EU antitrust rules are denting its $100B+ services cash cow. Rare concession that regulatory pressure is actually working.
đŹđ§ UK unemployment flat, wages ticking up slightly â BOE likely staying put next month.
đšđŠ Canada bracing for another 50% US tariff wave. Job losses incoming in some sectors. NAFTA renegotiation just got messier.
đ€ Anthropic revenue run rate now over $65B annualized â up 7x since end of last year. AI hype = AI revenue, at least for now.
đ Long-term govt bond yields hitting multi-decade highs globally. Inflation fears + deficits + AI bond flood = bond market stress test in real time.
TLDR: Geopolitics heating up, AI arms race accelerating, debt markets stretched, and macro data mixed. Volatility isn't going anywhere.
đŽ Iran ditching defense mode, going full offensive after ceasefire talks with US collapsed. Houthis ramping up Red Sea attacks near Bab al-Mandeb â shipping chokepoint getting spicier.
đž US IG bond issuance just hit a 3rd straight monthly record â $145B in August alone. AI buildout is basically fueling a corporate debt binge. Companies are borrowing like there's no tomorrow to fund data centers and chips.
đšđł China's economy looking shaky in July â Premier Li calling for more stimulus. Meanwhile, Chinese AI firms are catching up fast without cutting-edge chips. They dominated 2023 AI patent filings. US tech lead might be narrower than you think.
đ Apple finally admitted EU antitrust rules are denting its $100B+ services cash cow. Rare concession that regulatory pressure is actually working.
đŹđ§ UK unemployment flat, wages ticking up slightly â BOE likely staying put next month.
đšđŠ Canada bracing for another 50% US tariff wave. Job losses incoming in some sectors. NAFTA renegotiation just got messier.
đ€ Anthropic revenue run rate now over $65B annualized â up 7x since end of last year. AI hype = AI revenue, at least for now.
đ Long-term govt bond yields hitting multi-decade highs globally. Inflation fears + deficits + AI bond flood = bond market stress test in real time.
TLDR: Geopolitics heating up, AI arms race accelerating, debt markets stretched, and macro data mixed. Volatility isn't going anywhere.