Show Notes
Today, we wonder how long markets can take any extension of the latest rather brutal sell-off in global bonds, which have taken the entire US yield curve from 5-years and out to new post-global financial crisis highs. Also, a look at the macro and FX reaction to bond market developments, the risk to macro trades if intervention is incoming at some point, and the three central bank meetings this morning. This and more on today's pod, which is hosted by Saxo Global Head of Macro Strategy John J. Hardy. Links
FTAlphaville passed along an archived The Verge article on Meta's latest big scramble to diversify its business model away from over-reliance on its core "social media" platforms with Muse and now the Muse Charm. Should we just stop? (Unplug from the social media and influencer rate race that no longer connects us in meaningful ways?). We probably should, but will we and how? Meanwhile, the AI data centre buildout is the largest single investment boom ever, as a percent of GDP, than the canal building, railroad and electrification infrastructure buildouts combined.
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