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Bank Syz Ltd. accepts no liability for any loss arising from the use of this document. ## Straight from the Desk # **Syz** the moment Live feeds, charts, breaking stories, all day long. - [All](https://blog.syzgroup.com/syz-the-moment) - [equities](https://blog.syzgroup.com/syz-the-moment/tag/equities) - [United States](https://blog.syzgroup.com/syz-the-moment/tag/united-states) - [Macroeconomics](https://blog.syzgroup.com/syz-the-moment/tag/macroeconomics) - [Food for Thought](https://blog.syzgroup.com/syz-the-moment/tag/food-for-thought) - [markets](https://blog.syzgroup.com/syz-the-moment/tag/markets) - [Central banks](https://blog.syzgroup.com/syz-the-moment/tag/central-banks) - [bitcoin](https://blog.syzgroup.com/syz-the-moment/tag/bitcoin) - [Fixed Income](https://blog.syzgroup.com/syz-the-moment/tag/fixed-income) - [geopolitics](https://blog.syzgroup.com/syz-the-moment/tag/geopolitics) - [AI](https://blog.syzgroup.com/syz-the-moment/tag/ai) - [europe](https://blog.syzgroup.com/syz-the-moment/tag/europe) - [Asia](https://blog.syzgroup.com/syz-the-moment/tag/asia) - [gold](https://blog.syzgroup.com/syz-the-moment/tag/gold) - [Commodities](https://blog.syzgroup.com/syz-the-moment/tag/commodities) - [investing](https://blog.syzgroup.com/syz-the-moment/tag/investing) - [Technology](https://blog.syzgroup.com/syz-the-moment/tag/technology) - [Crypto](https://blog.syzgroup.com/syz-the-moment/tag/crypto) - [technical analysis](https://blog.syzgroup.com/syz-the-moment/tag/technical-analysis) - [nvidia](https://blog.syzgroup.com/syz-the-moment/tag/nvidia) - [oil](https://blog.syzgroup.com/syz-the-moment/tag/oil) - [china](https://blog.syzgroup.com/syz-the-moment/tag/china) - [ETF](https://blog.syzgroup.com/syz-the-moment/tag/etf) - [earnings](https://blog.syzgroup.com/syz-the-moment/tag/earnings) - [Forex](https://blog.syzgroup.com/syz-the-moment/tag/forex) - [energy](https://blog.syzgroup.com/syz-the-moment/tag/energy) - [banking](https://blog.syzgroup.com/syz-the-moment/tag/banking) - [magnificent-7](https://blog.syzgroup.com/syz-the-moment/tag/magnificent-7) - [Alternatives](https://blog.syzgroup.com/syz-the-moment/tag/alternatives) - [Volatility](https://blog.syzgroup.com/syz-the-moment/tag/volatility) - [Real Estate](https://blog.syzgroup.com/syz-the-moment/tag/real-estate) - [apple](https://blog.syzgroup.com/syz-the-moment/tag/apple) - [emerging-markets](https://blog.syzgroup.com/syz-the-moment/tag/emerging-markets) - [google](https://blog.syzgroup.com/syz-the-moment/tag/google) - [Middle East](https://blog.syzgroup.com/syz-the-moment/tag/middle-east) - [switzerland](https://blog.syzgroup.com/syz-the-moment/tag/switzerland) - [tesla](https://blog.syzgroup.com/syz-the-moment/tag/tesla) - [United Kingdom](https://blog.syzgroup.com/syz-the-moment/tag/united-kingdom) - [amazon](https://blog.syzgroup.com/syz-the-moment/tag/amazon) - [microsoft](https://blog.syzgroup.com/syz-the-moment/tag/microsoft) - [assetmanagement](https://blog.syzgroup.com/syz-the-moment/tag/assetmanagement) - [ethereum](https://blog.syzgroup.com/syz-the-moment/tag/ethereum) - [meta](https://blog.syzgroup.com/syz-the-moment/tag/meta) - [russia](https://blog.syzgroup.com/syz-the-moment/tag/russia) - [Industrial-production](https://blog.syzgroup.com/syz-the-moment/tag/industrial-production) - [Healthcare](https://blog.syzgroup.com/syz-the-moment/tag/healthcare) - [ESG](https://blog.syzgroup.com/syz-the-moment/tag/esg) - [Global Markets Outlook](https://blog.syzgroup.com/syz-the-moment/tag/global-markets-outlook) - [Turkey](https://blog.syzgroup.com/syz-the-moment/tag/turkey) - [inflation](https://blog.syzgroup.com/syz-the-moment/tag/inflation) - [bankruptcy](https://blog.syzgroup.com/syz-the-moment/tag/bankruptcy) - [brics](https://blog.syzgroup.com/syz-the-moment/tag/brics) - [Market Outlook](https://blog.syzgroup.com/syz-the-moment/tag/market-outlook) - [performance](https://blog.syzgroup.com/syz-the-moment/tag/performance) - [africa](https://blog.syzgroup.com/syz-the-moment/tag/africa) - [LLM](https://blog.syzgroup.com/syz-the-moment/tag/llm) - [Global](https://blog.syzgroup.com/syz-the-moment/tag/global) - [Market News](https://blog.syzgroup.com/syz-the-moment/tag/market-news) - [Weekly Equities](https://blog.syzgroup.com/syz-the-moment/tag/weekly-equities) Show more 9 Oct 2026 - - - #### OPENAI EXPECTS $70B IN ANNUALIZED REVENUE BY END OF 2026 Maybe Axios was counting future ARR... Source: Negligible Capital @negligible\_cap Bloomberg [#earnings|](https://blog.syzgroup.com/syz-the-moment/tag/earnings) [#AI](https://blog.syzgroup.com/syz-the-moment/tag/ai) ![OPENAI EXPECTS $70B IN ANNUALIZED REVENUE BY END OF 2026](https://blog.syzgroup.com/hubfs/1791524133733.jpg) ![OPENAI EXPECTS $70B IN ANNUALIZED REVENUE BY END OF 2026](https://blog.syzgroup.com/hubfs/1791524133733.jpg) 9 Oct 2026 - - - #### The 4-week average of initial claims equaled its lowest level ever (57 years). I cut off the peaks so we can better see the troughs. -- For decades, this was THE gauge to measure the labor market. Now it's making a case this is the best US labor market in our lifetime... Source: Jim Bianco [#Macroeconomics|](https://blog.syzgroup.com/syz-the-moment/tag/macroeconomics) [#United States](https://blog.syzgroup.com/syz-the-moment/tag/united-states) ![The 4-week average of initial claims equaled its lowest level ever (57 years).](https://blog.syzgroup.com/hubfs/1791523725419.jpg) ![The 4-week average of initial claims equaled its lowest level ever (57 years).](https://blog.syzgroup.com/hubfs/1791523725419.jpg) 9 Oct 2026 - - - #### SpaceX wants to become your mobile carrier. The company has agreed to buy nationwide 800 MHz spectrum from Grain Management—a move that could bring Starlink closer to competing directly with America’s telecom giants. The market reaction? AT&T, Verizon and T-Mobile fell in extended trading. SpaceX rose around 2.5%. The strategic shift is clear: Starlink wants to serve customers directly, with less reliance on traditional operators. And it has a powerful engine behind it: its connectivity business generated $4.29 billion in revenue and $1.66 billion in operating income in Q2. But spectrum alone won’t solve everything. FCC approval is still required. Reliable indoor coverage in cities would likely require ground-based towers. No launch date has been announced. The next telecom battle could combine satellites above us with towers around us. How much of your next phone bill could eventually go to SpaceX? Source. Gurgavin, CNBC [#Food for Thought|](https://blog.syzgroup.com/syz-the-moment/tag/food-for-thought) [#equities](https://blog.syzgroup.com/syz-the-moment/tag/equities) ![SpaceX wants to become your mobile carrier.](https://blog.syzgroup.com/hubfs/1791525169831.jpg) ![SpaceX wants to become your mobile carrier.](https://blog.syzgroup.com/hubfs/1791525169831.jpg) 9 Oct 2026 - - - #### Masayoshi Son is seeking up to $100 BILLION from Gulf investors for his next AI bet. After investing $65bn in OpenAI, the SoftBank founder reportedly wants a fund to buy companies and transform their operations using AI and robotics. The ambition is enormous. So are the financing stakes. SoftBank shares have fallen more than 30% from their June peak. OpenAI’s delayed IPO could complicate further investment plans. SoftBank recently raised over $11bn through a record junk bond offering, paying yields as high as 9.75%. Gulf backing could provide fresh firepower—but talks offer no guarantee of a deal. Son has delivered spectacular wins, including Alibaba, and costly failures, including WeWork. The question now: can AI transform acquired businesses fast enough to justify the capital—and debt—behind the vision? Source: FT [#AI|](https://blog.syzgroup.com/syz-the-moment/tag/ai) [#Alternatives](https://blog.syzgroup.com/syz-the-moment/tag/alternatives) ![Masayoshi Son is seeking up to $100 BILLION from Gulf investors for his next AI bet.](https://blog.syzgroup.com/hubfs/1791526598238.jpg) ![Masayoshi Son is seeking up to $100 BILLION from Gulf investors for his next AI bet.](https://blog.syzgroup.com/hubfs/1791526598238.jpg) 9 Oct 2026 - - - #### French companies now borrow CHEAPER than the French state €215bn of corporate bonds trade with lower spreads than government bonds - 18x more than in January. That's 38% of the IG market now pricing the government as the risk, not the companies. Source: Nic @puckrin Bloomberg [#Fixed Income|](https://blog.syzgroup.com/syz-the-moment/tag/fixed-income) [#europe](https://blog.syzgroup.com/syz-the-moment/tag/europe) ![French companies now borrow CHEAPER than the French state](https://blog.syzgroup.com/hubfs/1791524030570.jpg) ![French companies now borrow CHEAPER than the French state](https://blog.syzgroup.com/hubfs/1791524030570.jpg) 9 Oct 2026 - - - #### This is what crowd out looks like Source: Jason Furman [#Food for Thought](https://blog.syzgroup.com/syz-the-moment/tag/food-for-thought) ![This is what crowd out looks like](https://blog.syzgroup.com/hubfs/1791524267576.jpg) ![This is what crowd out looks like](https://blog.syzgroup.com/hubfs/1791524267576.jpg) 9 Oct 2026 - - - #### France's debt problem goes well beyond the public sector. While government debt is comparable to US levels, France's private-sector debt burden is considerably higher. With both public and private balance sheets stretched, there is no easy way out. The question is how much political pain it will take to force the adjustment. Source: TME, Dhaval Joshi [#Fixed Income|](https://blog.syzgroup.com/syz-the-moment/tag/fixed-income) [#europe](https://blog.syzgroup.com/syz-the-moment/tag/europe) ![France's debt problem goes well beyond the public sector.](https://blog.syzgroup.com/hubfs/1791524494114.jpg) ![France's debt problem goes well beyond the public sector.](https://blog.syzgroup.com/hubfs/1791524494114.jpg) 8 Oct 2026 - - - #### The comparison between Germany and Switzerland offers a useful perspective on industrial competitiveness. Switzerland shows that high wages and a strong currency can coexist with a successful industrial sector. Productivity, innovation and a supportive business environment play a central role. Germany’s industrial challenges deserve an equally thoughtful discussion. Rising costs, expensive energy, bureaucracy and weak productivity growth are putting pressure on a country whose engineering excellence has long been admired worldwide. The debate should focus on how to create better conditions for investment, entrepreneurship and productivity. Redistribution alone cannot restore competitiveness, and blaming immigration offers no credible economic solution either. Germany has considerable strengths: skilled workers, outstanding companies and a deep industrial tradition. Building on these assets through practical reforms would help secure its prosperity for the next generation. But the clock is ticking... NB: unit costs in local currency Source chart: Michel A.Arouet [#europe|](https://blog.syzgroup.com/syz-the-moment/tag/europe) [#Industrial-production](https://blog.syzgroup.com/syz-the-moment/tag/industrial-production) ![The comparison between Germany and Switzerland offers a useful perspective on industrial competitiveness.](https://blog.syzgroup.com/hubfs/1791383015691.jpg) ![The comparison between Germany and Switzerland offers a useful perspective on industrial competitiveness.](https://blog.syzgroup.com/hubfs/1791383015691.jpg) ❮❮ [❮](https://blog.syzgroup.com/syz-the-moment/page/13) [12](https://blog.syzgroup.com/syz-the-moment/page/12) [13](https://blog.syzgroup.com/syz-the-moment/page/13) [14](https://blog.syzgroup.com/syz-the-moment/page/14) [15](https://blog.syzgroup.com/syz-the-moment/page/15) [16](https://blog.syzgroup.com/syz-the-moment/page/16) [❯](https://blog.syzgroup.com/syz-the-moment/page/15) [❯❯](https://blog.syzgroup.com/syz-the-moment/page/1251?hsLang=en) ## **Thinking** out loud Sign up for our weekly email highlighting the most popular posts. 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