The Anthropic 20% distressed discount
Source: zerohedge
AI is driving up Treasury Yields (through the crowding out effect)
Source: Barclays, Bloomberg
The AI boom is becoming harder to stop
Alphabet, Amazon, Meta and Microsoft now have $2.4 TRILLION+ in future off-balance-sheet commitments, according to the WSJ. These aren’t hidden debts, but largely long-term commitments for data centers, energy, servers and compute capacity. The key point: a significant part of future AI spending is already locked in. That creates enormous momentum across the AI ecosystem — from Nvidia and Broadcom to memory, data centers, power equipment and utilities. It also accelerates the financialization of AI infrastructure: long-term Big Tech contracts can support debt, private credit and potentially securitization. ✅ Short term: this makes an abrupt AI capex slowdown less likely. ⚠️ Long term: it raises the stakes. If AI revenues fail to justify these massive commitments, overcapacity, falling compute prices and refinancing stress could turn today’s financial accelerator into tomorrow’s vulnerability.
Nasdaq is introducing a new trading session from 9pm to 4am ET starting December 6, 2026.
The stock market will soon trade 23 hours a day, 5 days a week. Source: Trend Spider
The number of S&P500 stocks that now have negative beta to the market is at the highest level since 2000 / 2001
“The list of “Negative Beta” stocks, names whose day in and day out correlation to the S&P 500 is inverse, has surged to 121 names, far surpassing the only other significant spike, in 2000-01 after the dot com bubble had burst.” -Evercore Source: Negligible Capital ISI evercore
Asset Managers and Hedge Funds have now built the largest Nasdaq Futures short position in history
Source: Barchart
In case you missed it... US 30-year government bond yields hit 5.31%, highest since 2007.
~$2tn deficits, sticky inflation, heavy long-bond supply due to AI-fueled corporate borrowing are lifting term premia as traditional demand fades. Even softer data can't stop the selloff. Source: HolgerZ, Bloomberg
Sandisk $SNDK is now up 62% in the last 14 days, adding $101 billion to its market value.
SanDisk has now broken past almost every analyst target on Wall Street. Source: Bull Theory
