Netanyahu Describes Meeting With Trump as ‘One of the Best Conversations’ They Have Ever Had

WSJ Catches Up, Discovers AI's Off-Balance Sheet Liabilities Are $3 Trillion And Growing $1.2 Trillion Per Quarter More than two months ago, long before most Wall Street analysts had any clue that the bulk of the AI buildout commitments were diligently hidden in various off-balance sheet SPVs and other (perfectly legal) accounting gimmicks, we wrote a lengthy article detailing just that, and explaining why far beyond the $1 trillion (and rapidly rising) in annual plain vanilla capex -- all of which now has to be funded through debt issuance since...

We are reminded time and again that prices emerge from subjective valuation, not objective criteria.

Ugly JOLTs Report Hints At Another Negative Payrolls Print On Friday After five straight months of JOLTS beats, including two blowout prints for April and May and zero misses since 2025, last month's JOLTS report was a surprising miss (despite the previously discussed surge in government job openings). Fast forward to today when the latest JOLTS report made it two misses for two, with the BLS announcing moments ago that in July, the US had 7.271 million job openings, up from a downward revised 7.182 million... ... and missing the...