AI Capex Depreciation Risk Is The Catch To Record Earnings

10Y Yield Spikes Above 5.00% After Blowout Beats For US PMIs With 'hard' economic data still somewhat muted, expectations were for a modest retracement in US PMIs from recently optimistic levels in preliminary September data. Instead, the 'soft' survey data soared: Flash US Services PMI Business Activity Index: 58.7 vs 55.8 exp (August: 56.5). 59-month high. Flash US Manufacturing PMI: 57.0 vs 53.7 exp (August: 53.9). 52-month high.  The headline flash S&P Global US PMI Composite Output Index rose from 56.0 in August to 58.4 in September, registering the fastest expansion since July 2021...

NATO Chief Challenged On The "Defensive" Alliance's History Of Offensive Regime Change After his Oval Office visit today, an affair dominated by foreign reporters speaking truth to power by clamoring for more global military spending, NATO Secretary General Mark Rutte had to defend his alliance’s often-touted moral assertion: that NATO is defensive in nature. Asked by ZeroHedge whether NATO’s good deeds in Libya and Iraq qualified as defensive, Rutte had this to say: NATO chief Mark Rutte often refers to his alliance as “defensive.” I asked whether Hillary Clinton’s regime war in Libya...

Russia Pounded By Biggest Ukrainian Drone Swarm Since January Ahead Of Geneva Talks Russia's Defense Ministry on Tuesday is reporting an overnight and early morning attack which marked the largest drone assault from Ukraine since early January. Russian air defenses shot down more than 150 Ukrainian drones in the attack which included hundreds of UAVs sent in total, as officials from both sides are imminently expected meet in Switzerland for another round of peace talks. via Reuters According to the ministry, 79 drones were intercepted over the Black Sea and the Sea of...