No THAC0 Tuesday

MSFT Spikes After Leaving CapEx Outlook Unchanged Update (1800ET): As this evening's conference call went on, we finally got to the meat of the matter as Microsoft kept its CapEx forecast unchanged on Wednesday, ...becoming one of the first hyperscalers to hold the line on the market's insatiable AI spending spree. Against expectations to spend $190 billion on capital expenditures this calendar year, Microsoft tonight maintained this spending outlook (due to an accounting change, this CapEx guidance is now $175 billion, but, in reality, Microsoft is keeping its AI capex plan the same...

Israeli strikes on Gaza on Sunday killed at least 12 people, including two children and a pregnant woman, as the Israeli military continues its violations of the US-backed ceasefire deal. The Associated Press reported that a strike on Sunday morning hit a house in the Nuseirat Refugee Camp in central Gaza, killing a man, his […]

"Perfect Storm": Bond Traders "Stunned" At How Quickly SpaceX Bonds Are Selling Off Media reports earlier this week about SpaceX's inaugural post-IPO investment-grade bond (and we mean inaugural, as the company rushed to tap the corporate bond market just days after going public with a low-IG rating of Baa1/BBB) which priced on Tuesday, had it as almost 4x oversubscribed, at roughly $90BN in orders for the $25 billion offering (upsized from $20 billion), signaling relentless demand for the paper. Alas, it took just 48 hours for the myth of sterling...