Hyperscaler free cash flow

“The danger is that higher yields might instead reflect the risk of Mr Warsh’s experiment going wrong. “Nothing ever happens” can be a good bet. But central bankers’ reputations are made when something does.” economist.com/finance-and-...

What will Kevin Warsh do if America’s economy breaks?

An enigmatic Fed faces the risk of AI stocks falling and the oil price soaring

economist.com

Tried to let it settle for a weekend but still can’t stop thinking about that Musalem. Fun times in Fedland. open.substack.com/pub/yontodd/...

The Fed’s Fractured Front

A historic sell-off in long-dated Treasuries, three hawkish dissents, and leaks out of Eccles Building signal an FOMC losing its grip on institutional discipline.

open.substack.com

Jonathan Todd@yontodd.bsky.social · 5d ago

1) This is the most firey statement I can remember a Fed official offering. 2) That said, I'll really believe this whole revolt narrative to be true if/when Powell ever speaks 3) The minutes release is going to be quite the event

1) This is the most firey statement I can remember a Fed official offering. 2) That said, I'll really believe this whole revolt narrative to be true if/when Powell ever speaks 3) The minutes release is going to be quite the event

George Pearkes@peark.es · 5d ago

Musalem wants a hike immediately, worried about credibility. FOMC basically in revolt at this point (as these things go, anyways). www.ft.com/content/2735...

Musalem wants a hike immediately, worried about credibility. FOMC basically in revolt at this point (as these things go, anyways). www.ft.com/content/2735...

We should all consider ourselves very fortunate if the “market prices will continue to respond in the direction and magnitude they see fit” line somehow does not end up in the FAFO Hall of Fame.

Isaiah Bishop@isaiahbishop.bsky.social · last wk.

Fucking weird ass statement

Is Timiraos going to get called on at all? There should be a prediction market contract for this

The era that shaped me the most/I'm most nostalgic for can pretty much be summed up with "When were the Strokes, TV on the Radio, and Beach House at their peak"

Chicago housing market remains spicy For the third consecutive month, Chicago led all metros with a 6.9% annual increase in May, followed by New York (4.2%) and Cleveland (3.1%). www.spglobal.com/spdji/en/ind...

Invest in this FIFA thing at a $20B valuation or in the Boring Company at a $20B valuation

Robert Smith@bondhack.ft.com · last wk.

👀 scoop from my FT colleagues www.ft.com/content/819c...

Chinese automakers projected to take 16% of EU sales by 2030, or a ~€200B shift. But compare that to the projected €230B in annual added defense spending across EU members by 2030 (assuming the 5% NATO Hague level). The defense pivot alone easily offsets the trade shift in cars.

Jonathan Todd@yontodd.bsky.social · last wk.

Fears around Chinese autos in Europe seem a bit overblown... (also an Uber trip I took in Paris last month was in a BYD and c’était incroyable, especially after looking at the retail price) yontodd.substack.com/p/guns-vs-ge...

Hell yeah Newsmax announced today that the Company has entered into an AI content partnership with Meta Platforms ("Meta"). $NMAX $META

Fears around Chinese autos in Europe seem a bit overblown... (also an Uber trip I took in Paris last month was in a BYD and c’était incroyable, especially after looking at the retail price) yontodd.substack.com/p/guns-vs-ge...

Guns vs. Gearboxes: Can missiles and drones save Europe from BYDs and Temu Range Rovers?

Why the doom-mongers predicting a European manufacturing collapse are ignoring a €230 billion state-guaranteed lifeline.

yontodd.substack.com

There is simply no ambiguity in what Elon Musk is arguing and endorsing here.

Me and LeBron, both born in 1984. He signs a 2Y contract, therefore out of personal pride, that means I need to ensure I can still dunk into my age 44 year.

More evidence, courtesy of @ernietedeschi.bsky.social, that AI isn't really showing up yet as stronger productivity at an industry or economy-wide level. www.stripeeconomics.com/p/ai-and-pro...

Oh my God it keeps getting worse. "a pitch deck shared with potential clients and seen by the FT documented 10 market-moving posts by the US president. These included Trump’s post on the 'liberation day' tariffs last year which sent stocks down 12 per cent and another about hitting Iran 'very hard'"

Financial Times@financialtimes.com · 2w ago

Industry executives have balked at the fee and the potential legal risks of a new data service that would provide ‘faster’ access to posts from the top accounts on Donald Trump’s social media platform Truth Social. ft.trib.al/4gn0otB

"According to the findings, perceptions of city crime levels appear “closely tied” to social media exposure"

WTTW - Chicago PBS@wttw.bsky.social · 2w ago

More Chicagoans believe violent crime has increased in the city, according to a new public opinion poll, even as shootings and homicides throughout 2026 are essentially the same as last year, which ended with the fewest recorded killings in 60 years. https://to.wttw.com/4yw0McF

I would say this marks a new low - even for Adam Jonas. Notify the wallet inspector! $SPCX

Rotten Tomatoes (29%) says it grossed $7.3M, so I'm like 1 of 39 people who can make this claim www.rottentomatoes.com/m/bones

Defector@defector.com · 3w ago

What's the worst movie you've ever watched in a theater? defector.com/whats-the-wo...

Pres Trump’s plan to charge for early access to his pronouncements on his truth social company should be illegal. The information he releases is not his personal property. It belongs to the people. He has no right to sell and profit from it.

$DJT up ~10% from its low on, uh, renewed revenue optimism

Tony Tassell@tonytassell.bsky.social · 3w ago

Trump’s social media company has discussed charging traders and investors as much as $100,000 a month for faster access to the US president’s posts on his Truth Social platform - FT scoop www.ft.com/content/e466...

Retiring my Duolingo streak learning French at 1,622 (started 6-Feb-22). Probably should have done this 2+ years ago, as there are significantly better/more efficient ways to learn. A good way to start and make sure you're committed to learning, but not as helpful beyond that...

"Kalshi says it won’t offer contracts tied to pediatric studies or trials that are still recruiting participants." Nice they admit there are a million potential landmines with this, they're just selectively choosing which to ignore www.bloomberg.com/news/article...

Kalshi Will Offer Sports-Style Betting on Drug Trial Results

Kalshi Inc. is expanding in biotechnology by offering wagers on the outcomes of clinical trials and regulatory decisions, giving traders a more direct way to bet on key industry catalysts.

bloomberg.com

The Information reports Apple ($AAPL) is seeking to acquire an AI chip maker. The Information reports Apple found its in-house M2 Ultra insufficient for advanced AI workloads, forcing the company to rely on NVIDIA.

🚨SpaceX bond yields rocket towards junk www.ft.com/content/3a02...

$C Jane Frasier told an analyst on no ROTCE raise, "Mike, I can't tell you that it's impossible that we will exceed the 11%. We're just not going to box ourselves into that" And I realized I'm shocked my kids haven't hit me with that exact framework

Computer software and accessories +2.3% m/m and 17.4% y/y

Gregory Daco@gregdaco.bsky.social · 3w ago

#Inflation cools, but upside risks remain 📈 #CPI -0.4% m/m in June ✅Core -0.02% 🍲Food +0.2% ⛽️Energy -5.7%: Gas -9.7% ⚠️ ✅Core gds -0.1% 🚗New -0% 🚘Used -0.2% 👕Apparel -0.6% ✅Core svc +0% 🏘️Shelter +0.1% 🏡Rent +0.1% 🏠OER +0.2% 🏨Hotel -2.8% 🏥Med -0.1% 🛫Air +0.2% 📜Car insur -2%

Mute all

woof www.ft.com/content/2838...