"If every household used AI agents to optimize the return on their cash balances, banks could lose a large share of the cheap deposits they rely on to make loans."
apollo.com/insights-news/ins…
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Carney said the deal fell apart because the U.S. sought to restrict Canada’s ability to make trade deals with other countries and proposed a last-minute, highly punitive change affecting Canadian truck exports.
theglobeandmail.com/world/ar…
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“The lesson is to take a long-term perspective,” he said, arguing that a wave of small refinery closures in Europe in recent years had made the region extremely dependent on imported fuel.
ft.com/content/eae8bbc5-7946…
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This is most likely short-term according to Rosenberg Research.
financialpost.com/news/econo…
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Majority Quorum retweeted
Microsoft $MSFT breaking out to its highest price in 9 months 🤰🎉
$MSFT just added +$750 billion in valuation in six trading days...
In other words, Microsoft gained more in six trading days than the entire worth of any company outside the top 20 on Earth.
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The S&P 493 is spending heavily on AI. But it is not showing up in profit margins.
apollo.com/insights-news/ins…
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Majority Quorum retweeted
US crude oil inventories are experiencing an unprecedented decline:
Total US crude oil inventories have fallen for 17 consecutive weeks, the longest streak on record.
This surpasses the previous record of 16-straight weekly declines seen in 2021.
Since early April, total crude oil inventories have plunged -166 million barrels, to 712 million barrels, the lowest since March 1984.
The Strategic Petroleum Reserve (SPR) alone has dropped -111 million barrels since March, to 305 million barrels, the lowest since February 1983.
Meanwhile, excluding the SPR, US oil inventories have fallen for 10 consecutive weeks, matching the 2018 record streak.
US oil supplies are experiencing a historic decline.
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In business, profit margins are frequently higher for the owner of the end-customer relationship.
apollo.com/insights-news/ins…
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Trump backtracked on more Patriot systems and allowing Ukr to produce them. Musk is refusing more Starlink support. Corruption weakened Zelensky’s government, with the defense minister fired and U.S. ambassador resigning/charged.
theatlantic.com/national-sec…
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Haven't used their tech since my industrial automation days. “It’s no secret that HONA has been a source of frustration for its customers, and the company’s $2bn of overdue backlog continues to grow,” noted Scott Mikus, an analyst at Melius Research.
ft.com/content/3989b6a0-ba02…
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DeepSeek plans a major API price hike, weakening its ultra-cheap image. V4-Flash delivers near-frontier AI at extremely low cost, driving rapid adoption. Mixture-of-Experts architecture + distillation make it efficient, enabling its low prices. scmp.com/tech/tech-trends/ar…
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The administration said the probe was being conducted to “ensure the secure and stable operation of critical information infrastructure, prevent cybersecurity risks and vulnerabilities, and safeguard national security”.
scmp.com/economy/global-econ…
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Google is facing pressure from rivals in the AI race. Despite pouring tens of B$ into AI, the company has faced criticism that it has been too slow to turn its world-leading research into tangible progress in areas that matter commercially, like AI coding. tinyurl.com/nxr9sc3v
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Is Bessent managing oil prices because of the mid-term elections?
Incredible...
Global crude exports are lower than during peak COVID, when we lost ~20 mbpd of global oil demand.
Today, there is nothing remotely close to that level of demand destruction.
All we have are falling inventories coupled with Bessent managing oil prices.
They might be able to print unlimited amounts of money... but inventories eventually run out.
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Majority Quorum retweeted
Bessent is in panic mode... he intervened to support the yen.
To prevent Japan from selling even more US assets, he joined Japan in a massive coordinated intervention.
But instead of selling USD, the US sold EUR.
To keep this war going, the US has to bail out major holders of US assets to prevent them from selling... especially Treasuries.
The US simply can't afford this war, which is why it only escalates when markets are closed.
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