$1.80 TRILLION has been added to Gold and Silver Marketcap in the last 30 hours as Fed rate hike expectations drop to 50.4%.
Source: Bull Theory
3rd September could be a major test for the U.S. Treasury market.
At 1:40 p.m. ET, the Treasury is scheduled to buy back up to $12.5 billion of its own debt. The market reaction will matter: If yields fall, the operation may be helping absorb some of the enormous supply hitting the market. If yields continue rising, the message could be more concerning: $12.5 billion may simply be too small relative to the amount of debt investors must absorb. This buyback is not just another Treasury operation. It is a live test of whether buybacks can meaningfully relieve pressure in the world’s most important bond market. Set your calendar: 1:40 p.m. ET. Source: Nic
Hyperscaler yield curves
Source: Global_Macro
Uber is cutting 3,300 jobs, about 10% of its global workforce, in a massive restructuring.
Management ranks will shrink by 20%, and remote work will be cut down to just 1% of the workforce going forward. CEO Dara Khosrowshahi says years of growth added "more layers, more coordination" that no longer make sense at Uber's current scale. This is Uber's third round of cuts this year, after a 23% reduction in its HR division in June and a 10% cut to customer service roles in July, both tied to AI adoption. Despite the cuts, Uber jumped 2.4% today in premarket as investors welcome the leaner structure. Source: Bull Theory
Broadcom’s transformation is wild.
$AVGO quarterly revenue: 2019 → ~$6B Today → ~$30B VMware added a new engine. AI sent semiconductors soaring. Source: App Economy Insights
Is a growth scare coming?
In green -> US economic inflation data surprises In red -> US economic growth data surprises Source: zerohedge
In the US, SPR (Strategic Petroleum Reserve) is at the lowest since 1982
Crude -4.450MM, Exp. +60K Gasoline -1.173MM Distillates +796K Cushing +80K Production 19kb/d SPR down 3.1MM barrels to 287 million, just 17 million away - or one month of drain - from record low.
Memory prices have surged as AI datacenters demand a growing share of the world's DRAM supply.
Source: Hedgeye
