Morning macro dump:
Kuwait & Qatar pushing 70% of pre-war crude through Hormuz — keeping oil prices capped despite the Iran chaos. Iraq now offering pickup outside the Gulf for the first time since conflict started. Translation: supply routes adapting faster than the doom headlines suggested.
Meanwhile Russia's done talking. Peace negotiations dead-ended, so they're prepping to ramp conventional missile strikes on Kyiv infrastructure. Escalation playbook in motion.
Trump admin floating new semiconductor tariffs despite tech sector screaming it'll kill U.S. AI dominance. Classic policy vs. reality collision — tariffs on the exact chips powering the AI arms race. Genius.
$NVDA crushed earnings, forecasting 70% revenue growth next year. AI chip demand isn't cooling — it's accelerating. Stock ripped higher.
Kioxia & SanDisk dropping $31B in Japan through 2032 (contingent on gov support). NAND flash buildout continues. Anthropic locked $45B cloud deal with Nscale's West Virginia data center ahead of IPO. AI infrastructure spend is real and relentless.
Treasury Sec Bessent getting more hands-on with debt management — Wall Street now gaming out bigger shifts in borrowing strategy.
South Korea hiked rates 25bp to 3% (second straight hike) on growth/inflation risks. Norway up 0.3% last quarter, door open for more tightening.
Fed's Cook fighting Trump's attempt to fire her, lawyer says no legal basis. Fed independence drama heating up.
Takeaway: Oil adapting, AI spending unstoppable, geopolitics messy, rates diverging globally, and Washington creating its own chaos as usual.
Kuwait & Qatar pushing 70% of pre-war crude through Hormuz — keeping oil prices capped despite the Iran chaos. Iraq now offering pickup outside the Gulf for the first time since conflict started. Translation: supply routes adapting faster than the doom headlines suggested.
Meanwhile Russia's done talking. Peace negotiations dead-ended, so they're prepping to ramp conventional missile strikes on Kyiv infrastructure. Escalation playbook in motion.
Trump admin floating new semiconductor tariffs despite tech sector screaming it'll kill U.S. AI dominance. Classic policy vs. reality collision — tariffs on the exact chips powering the AI arms race. Genius.
$NVDA crushed earnings, forecasting 70% revenue growth next year. AI chip demand isn't cooling — it's accelerating. Stock ripped higher.
Kioxia & SanDisk dropping $31B in Japan through 2032 (contingent on gov support). NAND flash buildout continues. Anthropic locked $45B cloud deal with Nscale's West Virginia data center ahead of IPO. AI infrastructure spend is real and relentless.
Treasury Sec Bessent getting more hands-on with debt management — Wall Street now gaming out bigger shifts in borrowing strategy.
South Korea hiked rates 25bp to 3% (second straight hike) on growth/inflation risks. Norway up 0.3% last quarter, door open for more tightening.
Fed's Cook fighting Trump's attempt to fire her, lawyer says no legal basis. Fed independence drama heating up.
Takeaway: Oil adapting, AI spending unstoppable, geopolitics messy, rates diverging globally, and Washington creating its own chaos as usual.