Hmm, was anything brewing back then??? The benchmark 10-year US Treasury yield climbed past 5.05%, marking its highest level since July 2007.
Independence Day!!! After the Fed’s unanimous 12-0 decision to hike interest rates by 0.25% Chair of the Fed Kevin Warsh sent a clear message that he is not beholden to the president, the treasury secretary, or any other party: “For more than five years, inflation has been running above target. The plain fact is that inflation is too high and has been for too long.”
“Pessimists sound smart, optimists make money”… With 30-year US mortgage rates topping 7% following the Fed’s rate hike, Moody’s warns that “there’s no reason to think that the rout couldn’t continue, and rates get closer to 8%.”
Uh oh… Oracle threatened to withhold lease payments over non-completion at its New Mexico data center, causing the venture’s $18 billion debt to trade at 90 cents on the dollar, signaling potential widespread issues for AI infrastructure debt.
“Everybody get together, try to love one another right now”… Amazon blocked Meta’s AI assistant, Muse, over privacy concerns, mirroring its ongoing legal fight with Perplexity’s agentic browser over unauthorized automated access to its e-commerce platform.
Why not??? The SEC proposed rescinding its “pay-to-play” rule, which prevents investment advisers from managing government funds after making political contributions to municipal officials, with Commissioner Hester Peirce praising the proposal on First Amendment grounds.
Damn kids… A recent Cornell University report revealed employers have a “jarring” skepticism of colleges, finding that recent graduates increasingly lack critical soft skills like absorbing feedback, compromising, and navigating workplace uncertainty.
“Splish splash I was taking a bath”… Following reports of $5 billion in identical $5,500 trades dominating its Ethereum perpetual futures, Kalshi denied wash trading claims, attributing the uniform volume to automated market makers providing legitimate market liquidity.
“The absurd is the essential concept and the first truth”… Legal AI platform Harvey raised $550 million at a $15.5 billion valuation (39x revenue), after switching to Chinese-developed AI model Kimi K3 to slash costs, introducing significant security, privacy, geopolitical, regulatory and client-trust risks to try to rescue its deteriorating margins.
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