Why Sovereign Debt Is Structurally Insulated from Market Discipline

Contacts Back On? Trump Proclaims Iran 'Talks Continuing At Rapid Pace' Amid Lebanon Ceasefire Efforts Summary Trump has announced the "shooting will stop" in Lebanon, after phone calls with both sides. Says Iran talks back on "at rapid pace". Iran announces halt to all exchanges with US, citing Israeli aggression in Lebanon. Trump says 'haven't heard' this from Tehran, vows to keep US naval blockade in place. Iran overnight initiated fresh attacks on neighboring Kuwait and even released video showing footage of a ballistic missile launch. The US bombed radar & drone sites in Iran...

Was Amazon's Tokenmaxxing Fiasco Behind Claude's $500M Mystery Bill? Axios reported this week that an unnamed Anthropic enterprise client managed to run up roughly $500 million in Claude charges in a single month after failing to put usage limits on employee licenses. The company was not named, but we suspect Blue Origin might not be the only thing that blew up for Jeff Bezos this month. Just as the Axios report landed with the $500M tidbit, Amazon was shutting down an internal AI-usage leaderboard after employees reportedly began “tokenmaxxing” - routing unnecessary work through...