Yields Hit Session High After Subpar 5Y Auction Tails For 10th Consecutive Time As Foreign Buyers Shrink

AI "Circle Jerk" Returns: Anthropic To Spend $100 Billion On AWS In Amazon Deal Circular AI vendor financing is back and back in a big way... As we noted last fall, when we walked readers through the stunning math behind what we called the AI "circle jerk," this latest iteration centers on Amazon and Anthropic, with the left-leaning AI company now committing to spend more than $100 billion over the next decade on AWS infrastructure. In the announcement on Monday evening, Anthropic committed to spending more than $100 billion over the next...

Trump Invokes Defense Production Act As US Moves To Rebuild Weapons Stockpiles The Trump administration is seeking a major increase in defense spending while simultaneously using executive authority to accelerate weapons production, reflecting growing concern over U.S. munitions inventories after the war with Iran, according to NBC. Defense Secretary Pete Hegseth met with Senate Republicans this week to rally support for a proposed $350 billion defense package, much of which would be directed toward replenishing missile and weapons stockpiles. According to NBC, Sen. John Cornyn said the Pentagon is “running short of...

Diverging Markets And Converging Talks? By Teeuwe Mevissen, senior macro strategist at Rabobank Financial markets continue to navigate an increasingly complex macro landscape, defined by the interaction of geopolitical shocks, resurgent inflation pressures, and diverging central bank responses. The key theme remains the tension between resilient risk assets—particularly equities—and a more cautious signal emanating from fixed income markets. This divergence reflects a broader uncertainty about the persistence of inflation and the implications for monetary policy and economic growth. Meanwhile Iranian and U.S. negotiators have concluded an initial round of high-level talks in...