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Richard-Mark Dodds, chief investment officer of Swiss fund manager Pure Value Metrics, who had previously predicted the Credit Suisse failure now talks about Markets and Relative Value in 2023. To view the video on Credit Suisse's demise, press here .

Markets : Alts assets managers pulse check #BlueOwl #Apolo etc, #AI didn't make knowledge worthless, it made access to knowledge worthless, Ai has infinite 'knowledge' and zippo common sense nor wisdom !!, IS and Ai price war about to begin ??.. . (play accordingly), #Crude reacts to Iran threats as it should (6months highs) , Les Wexner's full deposition on Epstein investigation (confirms a lot of things..), Nvidia and OpenAI abandon unfinished $100bn deal in favour of $30bn investment, |  Pardoned Binance Founder Hobnobs With Trump Sons and Administration Officials at Mar-a-Lago Crypto Fest ... !! >>> equity markets continue to hold' overall, huge rotations though still going on, Alts fund managers now under pressure, it seems we go from one weakness/sector to another (unwinding? hedging? bigger things to come ?) , FX pretty quiet with bonds, VIX had a meaningful move up, but no consequences, yet anyway, crude the natural 'Iran' clean bet.. Geopolitics : Trump just announced the U.S. will send $10 BILLION to his so-called “Board of Peace.” An offshore entity he controls. Where he’s chairman for life (grifting..outright illegal) , Trump warns of 'bad things' if Iran doesn't make a deal as US ramps up military presence Blue Owl curbs investor liquidity following asset sale, reminiscent of mid 2007/2008 and how it started, beware IF it spreads... it's all about the building blocks underneath.. perhaps the #IGV sell-off is some sorts of hedge (techs/SaaS private assets...), British authorities have reportedly begun sending Pam Bondi copies of Prince Andrew's emails collected after his arrest with notes that say, "Since you spilled black all over your copies, here are fresh, uncensored copies that will help you finally arrest someone!" | Advisers Want Trump to Focus on the Economy. It’s Easier Said Than Done. Foreign policy draws the president’s attention while voters raise concerns about the cost of living. (WSJ) Trump warns of 'bad things' if Iran doesn't make a deal as US ramps up military presence Oil Rises to Highest Since August on Iran Conflict Concerns Ukraine war live: Over 1,000 Kenyans to fight in Putin’s war Is an AI price war about to begin? Trump says U.S. will contribute $10 billion to Board of Peace - CBS News Can't make this up.. Pardoned Binance founder hobnobs with Trump sons, administration officials at Mar-a-Lago crypto fest Christine Lagarde intends to complete her term at | GBAF Change of mind.. Blue Owl curbs investor liquidity following private loans sale Blue Owl Sold Private Loans to Pension Giants and Own Insurer - Bloomberg Apollo Seeks to Reassure Clients About Rowan’s Epstein Ties - Bloomberg Apollo’s $27.5 Billion Panic Two powerful teachers’ unions demand SEC investigation. Hint at massive pullout. “Apollo Seeks to Reassure Clients About Rowan’s Epstein Ties” Top Traders Unplugged Podcast - GM97: Why Isn’t Anything Breaking? ft. Steen Jakobsen | Free Listening on Podbean App The crypto-loving billionaire and the $400mn ‘perfect fraud’ A White House advisor wants economists 'disciplined' for tariff study Advisers want Trump to focus on the economy. It’s easier said than done. Nvidia and OpenAI abandon unclosed $100 billion deal in favor of $30 billion investment - Goo Goo Read | Coo-coo-reading Johnson & Johnson explores $20 billion sale of orthopedics unit, Bloomberg News reports Mark Zuckerberg to testify in Meta social media addiction trial Billionaire Les Wexner tells lawmakers he was 'conned' by Epstein and did 'nothing wrong' Oversight Committee on X: "🚨 BREAKING: The House Oversight Committee is releasing the FULL deposition video of Les Wexner from our Epstein investigation. No spin. The American people deserve to see the testimony for themselves—transparency matters. Link to full deposition below 👇🏻 https://t.co/TeJ50JAFnl " / X Clash Report on X: "French President Macron: Free speech is a pure bullshit if nobody knows how you are guided through this so-called free speech—especially when it is to be guided from one hated speech to another hated speech. I just want to have a transparent road through these different https://t.co/pFAQ62SsxU " / X he's right.. what free speech... “free speech” is meaningless if the algos behind it aren’t transparent.... and clearly they are not.. all we have is some kind of ''guided speech'' these voices, kind of people (political usually) are boosted, others shadow‑banned, and we don’t 'really' know why (based on which ever web page we click on..etc)...calling that free speech is simply wrong or misplaced IMHO..

Geopolitics : US Gathers the most Air Power in the Mideast since the 2003 Iraq invasion  , The US will withdraw all of its remaining troops from Syria over the next two months, Dutch company built a new drone carrier in Romania for the Portuguese fleet! European Navy rising Markets : Fed minutes reveal discussion of a possible rate hike if inflation doesn’t cool, minutes also confirmed 'rate check' in USDJPY last month at the behest of the Treasury, Quantum threat to BTC (Saylor..), Over 80% of companies report no productivity gains from AI so far despite billions in investment >>> USD picks up a little bit of strength on FED minutes (talks of hike as well as int rate cut-mixed), risk overall stays firm, metals rebounded (bit wild yesterday again), GOLD back to $5K+, QQQ underperforming as it should, rotation etc.. will Europe have a proper go at social media and big techs ?.. it certainly is a card they can play vs U.S into mid-terms.. (trade and geopolitics, Russia, Iran etc).. many seems to think something big is happening with Iran.. (>>if anything crude should react..!..), let's see after earnings what Walmart can do form here, it is already on a 45 P/E.. #IBKR CEO: "So margin loans have been on roughly 10% to 12% of client assets. And to tell you, frankly, I get nervous when margin loans rise too quickly" Putin really going for it now, setting the stage for a full shut down of Russian internet, even crafting the law so that the Duma can't prevent it France to sell India 114 Rafale jets in a massive 90 billion Euro deal production will be localised to India to finalise the deal IMF calls on China to halve industrial subsidies Trump’s Board of Peace to pledge $5bn to rebuild Gaza  | Yet Hamas would need to disarm before a peace plan can get under way. (WSJ) Anthropic's CEO Dario Amodei: There are only a small number of years before AI models surpass the cognitive capabilities of most humans at most things... America’s Military Buildup Around Iran: What We Know and What It Means - Middle East Forum Russia-Ukraine talks to resume in Geneva as US claims 'meaningful' progress Delegations from the United Kingdom and France showed up to the Geneva negotiations without being invited and completely shifted the dynamic. The original plan between Trump and Russia was to corner Ukraine. That strategy just ran into London and Paris. They sent a clear message: no deals about Europe without Europe Putin könnte Internet in Russland komplett abschalten | Nau.ch German Chancellor Merz says US leadership ‘lost,’ calls for repair of relations Portugal builds Europe's first dedicated drone carrier, D João II Way to go ! AI can cure thousand-year diseases but risks are real, Anthropic CEO at India AI Impact Summit | Watch Michael Saylor's Strategy Adds 2,486 BTC Amid Institutional Concerns Over Quantum Threat To Bitcoin >>>> What he's not telling folks on CNBC is that the insane rate of shareholder dilution would pretty much destroy shareholders in MSTR.., much faster than the company itself.... Fed minutes reveal discussion of a possible rate hike if inflation doesn’t cool - MarketWatch Fed says last month's 'rate checks' were at Treasury's request | Reuters Over 80% of companies report no productivity gains from AI so far despite billions in investment, survey suggests — 6,000 executives also reveal 1/3 of leaders use AI, but only for 90 minutes a week | Tom's Hardware IMF calls on China to halve industrial subsidies EU approves agreement with London on Gibraltar That's sensible way to go ! now.. UK should replace fiscal rules with ‘traffic light’ system, says think-tank France’s Macron in India to boost Rafale deal talks, AI ties Mark Zuckerberg to testify in Meta social media addiction trial Why... ?.. Palantir Pays Zero Federal Income Tax Despite Explosive Growth, Largely Due to Trump Tax Law – ITEP Mamdani threatens to raise NYC property taxes by 10% Keep an eye on this one .. Why Carvana (CVNA) Is Down 10.4% After Fraud Allegations And Regulatory Scrutiny Emerge And What's Next Casino Royale. . Las Vegas casino doubles down on Bitcoin – The Armchair Trader Clash Report on X: "Anthropic's CEO Dario Amodei: There are only a small number of years before AI models surpass the cognitive capabilities of most humans at most things. A set of AI agents more capable than most humans at most things — coordinating at superhuman speed. That level of capability https://t.co/QfwJVXaX4P " / X

China's humanoid robots take center stage for Lunar NY showtime Markets : Berkshire issues last 13F of the Buffet-era (reduced AMZN by more that 75%), Japan will invest $36 billion in US oil, gas and critical minerals projects, ‘Woke’ AI spat escalates between Pentagon and Anthropic , Microsoft on Wednesday said it is on pace to invest $50 billion by the end of the decade, Iran talks 'upbeat'...''  Iranian hackers claim they now have videos of Trump with minors and will release them if the U.S. attacks Iran'''.... , UK inflation 'markedly' lower in Jan, Citadel's borrowings.., Google criticizes EU tech sovereignty, saying it’s counterproductive >>> markets steady, no panic anywhere.. all very quiet really, some liquidity gaps in specific risk buckets, but never seems to be spreading further, next up Walmart (earnings tom) which is currently trading on a 45 P/E... !!...seems perfectly normal valuation ?.. #TSLA needs $100B+ for GPUs to even develop robotaxis & Optimus, let alone scale them. Tesla today has only $10B cash in excess of $20B it needs to run its global operations, is no longer generating any free cash flow, and it’s losing automotive market share in all major markets.. 90% of Bonds Outstanding Yield Less Than 5%, with inflation at 3%...attractive ?... India and France have decided to elevate their strategic partnership to the level of a Special Global Strategic Partnership. In diplomacy, that means a great deal John Paulson, a major donor and tariff hawk just shut his brass instrument plant in Ohio and moved it to China, leaving all U.S. employees jobless. Hypocrisy and failure, all rolled into one “America First” headline China's humanoid robots take center stage for Lunar New Year showtime Pam Bondi Says DOJ Released ‘All’ Epstein Files — Names Trump, Biden, Zuckerberg, Tucker Carlson Among ‘Politically Exposed Persons’ Metals update Lunar New Year lull exposes reliance on Asian demand | Saxo Bank Switzerland It's time to get ready for Walmart's earnings. Here's what's new at the huge retailer. Iran says it briefly closed key waterway as it held talks with US | AP News Japan to invest US$36 billion in US projects under Trump deal - The Business Times Still need a weaker JPY ? probably not... Japan exports growth surges nearly 17% in January as shipments to China surge Christine Lagarde to leave ECB before the end of her 8-year term Likely to leave well before October 2027.. UK inflation Jan 2026 (1) The Investigation Citadel Doesn’t Want Published A white-collar jobs recession? The signs are everywhere Google warns EU against ‘erecting walls’ in tech sovereignty push UK Stock Market News: BAE Systems, Galliford Try, Glencore Trump donor who criticized offshoring to close Ohio plant and move work to China | Business | The Guardian Microsoft says it is on pace to invest $50 billion in 'Global South' AI push Apple Ramps Up Work on Glasses, Pendant, and Camera AirPods for AI Era ‘Woke’ AI spat escalates between Pentagon and Anthropic Berkshire issues last 13F of Buffett-era, enters new media name By Investing.com Sold AMZN, Berkshire acquired 5.1 million shares of the New York Times Co. in the three months through December, a stake worth $351.7 million at yearend, also increased its stakes in Chevron Corp. and Chubb Ltd during the period, to 6.5% and 8.7%, respectively Tech stocks fall as AI disruption fears hit more companies Brexit’s slow‑burn hit to the UK economy | CEPR New data shows #Brexit  has lowered UK GDP by 6-8% over the past decade. Investment down 12-18%, employment down 3-4%. It's even worse than economists had predicted pre-referendum, because they thought there would be a bounce-back long term. "Economists were roughly right on the magnitude of the impact, but wrong on the timing. The consensus pre‑referendum forecast of a 4% long‑run GDP loss turned out to be close to the actual loss after five years, but too optimistic about the longer run." Britain courts France to stay in ‘Made in Europe’ club – POLITICO UBS-Kulturkampf: Voll gegen CSler, die schlagen zurück – Inside Paradeplatz Murky secrets of Epstein's 'playboy ranch': 7,600-acre Zorro estate in New Mexico faces fresh probe The New Mexico Legislature has passed HR1 tonight to convene a Truth Commission and investigate Epstein’s crimes in NM, including at Zorro Ranch, led by State House Reps. Andrea Romero and Marianna Anaya

Kung Hei Fat Choi! - China celebrates the year of the Fire Horse! Markets : BOJ Likely to Raise Key Rate in April, Ex-Board Member Says, some kind of civil war inside #PLTR, Pentagon threatens #Anthropic because they refuse to spy on Americans..!, Spain is powering ahead of Europe’s economy GDP up 3.2%. >>> Ai fallout a MUST follow (from scarcity to abundance..) , big rotations going on, FX, bonds pretty quiet.. Geopolitics : Iran launches naval drills as tensions with US rise, Giorgia Meloni’s Mission: Persuading Trump and Europe to Be Friends. Italy’s leader is trying to stop the trans-Atlantic rift from becoming a divorce, even as voters and European peers sour on the alliance. (WSJ), Digital currencies...really?.. be careful what you wish for.. Ray Dalio below #AI The AI companies got themselves into a self-destruct positive feedback loop... Like a thermostat that's broken and just keeps turning the heat up, every hyped claim one AI company makes - the others have to make it too and then go one further.. #PLTR 13 workers left Palantir and issued this statement. "Palantir is increasingly complicit, normalizing authoritarianism under the guise of a 'revolution' led by oligarchs. We must resist this trend.", #Anthropic which owns Claude AI complained to Palantir when they used #Claude to kill Venezuelans during Maduro's kidnap as it breached their contract. Now Claude is being removed from ALL US Government because apparently it's 'no use' if it can't be used to harm people “.. With the vacancy-to-unemployed ratio now below 1.0, bargaining power is again shifting back to capital and away from workers. .. This is a marked contrast with an overall economy that is running hot.”... U.S jobs NOT strong.. Kalanovic will have his days again... could be very soon... Potential situation: Some investors think AI will kill industries like software and sell, other sell Mag7 on wasteful AI capex, others yet bet on AI capex collapse from DeepSeek V.4 or China supply and sell all Semis. Instead of lifting, AI suddenly sinks all boats >>> couldn't agree more fwiw...from driving everything up, all blindingly bullish on capex spending etc......to suddenly ... hum.. 'we all got played''... is the risk... how are they really going to monetize! all that spending.... #AI , AND/OR in other words from scarcity to abundance...why own Ai, before copnsulting robotics.. and why so few politicians even say a word about AI impact on society and economy (US jobs last year... nothing to worry about ?..Ai takng white colla rjobs etc.. ?) >>> A year ago, CDS on Alphabet and Meta didn't exist. Now they're among the most actively traded single-name contracts in the US market Nobody creates a default insurance market for fun... Iran launches naval drills as tensions with US rise BOJ Likely to Raise Key Rate in April, Ex-Board Member Says - Bloomberg Trump’s Fed chair pick argues there is one crucial reason to lower interest rates | CNN Business How Spain's economy became the envy of Europe - BBC News AI-driven stock rout could become 'unstoppable,' Barclays warns Wall Street Gold on X: "🚨 RAY DALIO SOUNDS THE ALARM ON CENTRAL BANK DIGITAL CURRENCIES. Billionaire hedge fund manager Ray Dalio tells Tucker Carlson central bank digital currencies are coming: "There will be no privacy... all transactions will be known... and if you're politically disfavored, you https://t.co/gF9YSjjnze " / X NIK on X: "🚨 OpenAI Quietly Removes “safely” and “no financial motive” from official mission Old IRS 990: > “build AI that safely benefits humanity, unconstrained by need to generate financial return” New IRS 990: > “ensure AGI benefits all of humanity” It’s over https://t.co/g8QnnAE70n " / X ....removes 'safely' and 'no financial motive' to.... New IRS 990: > “ensure AGI benefits all of humanity” BladeoftheSun on X: "Anthropic which owns Claude AI complained to Palantir when they used Claude to kill Venezuelans during Maduro's kidnap as it breached their contract. Now Claude is being removed from ALL US Government because apparently it's 'no use' if it can't be used to harm people." / X Pentagon threatens to cut Anthropic in AI safeguards dispute: Report Infosys and Anthropic Partner to Deploy AI Agents in Telecom, Finance, and Manufacturing Nvidia stock is stuck in a rut despite AI spending blitz BHP surges after strong first half Goldman Sachs plans to scrap DEI criteria for its board Another U turn .. Councils face 'uphill struggle' to be ready for elections by May Epstein files...Fascinating, or rather outright worrying !.. Sayer Ji on X: "🚨 I've spent weeks inside the Epstein files — not looking for names, but for infrastructure. What I found: Jeffrey Epstein wasn't just a sex trafficker. He was a switchboard — routing government secrets, Wall Street intelligence, and political power through one network. The https://t.co/YWGbm6TEKQ " / X

U.S. job growth for 2025 was revised down by 1,029,000, the biggest annual downward revision in at least 20 years (U.S data is pure fiction.....) Markets : MAG7 are breaking down technically, underperforming RoW and USD is weak.., ( Hyperscaler CDS demand on increase), China halved its UST holdings over the last 5years (down to $675bn), INSIDER activity in the U.S almost 100% 'sell', Retail portfolio cash allocation is down to ~14%, one of the lowest readings since the 2000 Dot-Com Bubble burst, all while fund managers’ cash levels as a % of assets under management (AUM) have fallen to 3.2%, also a record low, according to BofAFM survey , PLTR glitch or hacked ?, #MSFT is now approaching the 200 WMA (something that happens very rarely) #CHF Franc’s relentless rise alarms Swiss companies. Safe haven currency’s bull run triggers fears about impact on sales and profits Geopolitics : Outgoing Dutch Defence Secretary Tuinman says if the US blocks F‑35 software updates, the Netherlands will crack the code and develop its own updates to make the jets fully European. He added he is not allowed to provide further details, VdL : the time has come to bring Europe’s mutual defense clause to life. Mutual defense is not an optional task for the EU. It is an obligation under our own treaty — Article 42.7 IBM is tripling the number of Gen Z entry-level jobs after finding the limits of AI adoption France has decided to walk back its previous decision of closing 14 nuclear reactors and instead open 6 more One must read from .. Ray Dalio, to summarise, he argues the post-1945 world order has collapsed into disorder, as seen at Munich Security Conference. We're in a "might makes right" phase with power struggles in trade, tech, geopolitics, capital, and potential military conflicts (e.g., US-China over Taiwan). Key principles: Negotiate win-wins, avoid escalation, use power wisely. Wars are costlier than imagined; focus on productivity and balanced relations to sustain power IBM is tripling the number of Gen Z entry-level jobs after finding the limits of AI adoption | Fortune This IS probably the best summary of the world today, have a read : Ray Dalio on X: "It’s Official: The World Order Has Broken Down" / X Franc’s relentless rise alarms Swiss companies Merz, Macron eye new European security framework amid US reset | Reuters EU, Ursula von der Leyen: “It is time for Europe’s mutual defence clause” - Lapresse.US Marco Rubio visits Trump allies in Eastern Europe Volkswagen plans to cut costs by 20% by end 2028, Manager Magazin reports | Reuters Palantir glitch allegedly granted some FBI staff unauthorized access to a crypto hacker's data Maybe when you commit mass surveillance across world leaders and people, some may raise and say 'nope'....clearly big is true... ... Jawwwn on X: "Palantir CEO Dr. Alex Karp: “You need a higher purpose, and I think you often need a lower purpose. @andrewrsorkin: “What’s your lower purpose?” Karp: “I love the idea of getting a drone and having light fentanyl-laced urine spraying on analysts that tried to screw us.” https://t.co/HjTweXBLH1 " / X This could be a BIG deal >>> Ai optimized, newly coded, will possibly need 5-10x less memory, compute, energy, Capex spending turns out to be a boost for shares and GDP scheme, pushed all along by Bessent/Trump... Markets & Mayhem on X: "This is a big deal. The DeepSeek 2.0 moment continues, with a grand reveal from the big whale themselves as early as Monday. An open weight model that likely is on par with the proprietary frontier models. This further calls into question: 1) AI CapEx spending w/ RoI that is" / X AI in China: INFRASTRUCTURE AI in US: WINNER TAKE ALL DeepSeek v4 OPEN-source model will likely beat CLOSED-source models in America... Unicus on X: "🚨 $STLA: What the market missed, what we flagged early and why we expect more write offs from $STLA. On December 22, 2025, in our report to our clients, we shared our analysis on why we expect STLA to take a write off for $20B (we were off by $6B). On Feb. 6, STLA annouced a" / X Alex Mason 👁△ on X: "🚨 THE AI BUBBLE IS ABOUT TO BREAK And I don’t think people are prepared for what comes next. Everyone keeps treating AI like the next internet. I don’t see it that way. To me, this looks far closer to a debt bubble, and the timing lines up for real stress around 2026. Let https://t.co/VDHwwLiA0h " / X '' Right now, the AI industry is burning roughly $400B per year, while generating maybe $50–60B in actual revenue.'' 'No platform gets a free pass,' says PM - as crackdown on social media announced

Informal EU Leader's Retreat in Alden Biesen Castle : Von Der Leyen announces that the EU will "move forward faster" and deliver results by June...deregs etc....looks like EU moving full steam ahead (yes yes, let's wait for delivery..IMHO..feels like this time it is happening...), so many positive developments/things going in Europe, it's fair to say, Europe has just launched the first heavy rocket, the Ariane 64 (why aren't EU media all over this success? the U.S would be.., Macron & Merz clash on how to solve European competitiveness. Merz wants more deregulation, while Macron wants to prefer European procurement >>> do both to a certain degree, compromise, move on, and fast ! ..Europe can only assert itself if it is economically strong – and that strength depends on a competitive industrial base (Merz), Portugal builds Europe's first dedicated drone carrier Markets : after software, logistics, transport, fins, now CBRE next in line with the 'AI reset', Navarro sees 'significant' USMCA flaws, CBRE (real estate scare), >>> 'INSIDERS' activity in U.S stocks lately is almost 98% ALL selling, U.S CPI up next, one of those moment when many contacts and clients calling and asking 'what's going on'.. meaning too many longs out there, crowded trades, all similarly positioned supported by low vols (VIX), crazy valuations (we see how quickly things can unfold)... be prepared, hedge, reduce risk, and have a shopping list ready...always... on silly sell-offs Trade : US and Taiwan sign trade agreement to seal chip investment, deal will reduce American tariffs on a range of Taiwanese food products, the 'sell America' is more of a reduce America & buy everything else globally, rebalance! ( Asian stocks have made their best start over US equities since at least 2000), Geopolitics : Russia memo sees return to U.S. dollar system in pitch made for Trump, South Africa's Ramaphosa to deploy army to combat crime, Big tech Bro's getting scared, they should be, Google warns EU against ‘erecting walls’ in tech sovereignty push (MSFT - France's Visio etc) Seriously delinquent rates in multifamily mortgages at Freddie Mac are up to 0.48%, the highest in at least 21 years. The percentage has DOUBLED over the last 2 years EU's Von der Leyen reaffirms urgent need to simplify regulations in Europe Europe has a narrow window of opportunity. Just as we acted on health in the pandemic and on defence after Ukraine, now they must act on competitiveness. • Complete the Single Market • Simplify procedures • Turn savings into investment • Strengthen strategic autonomy • Pursue ambitious free and fair trade agenda....UK better get in or much closer fast !...just saying Macron & Merz clash on how to solve European competitiveness. Merz wants more deregulation, while Macron wants to prefer European procurement >>> to do both to a certain degree, compromise, move on, and fast ! Bart De Wever on X: "Yesterday, at the informal European Council in Alden Biesen, the 27 EU leaders reached broad agreement on three urgent priorities for Europe’s competitiveness. First, we must bring down energy costs for our industry - including through reform of the EU Emissions Trading System https://t.co/Cr0MOhLoaL " / X EU leaders agree to move ahead with ‘Buy European’ policy | European Union | The Guardian Eutelsat to Take Out Almost €1B in State-Backed Debt for New Satellites Portugal builds Europe's first dedicated drone carrier, D João II By the numbers: A look at European rocket Ariane 64's maiden launch Giorgia Meloni and Friedrich Merz: EU's new power couple White House Adviser Navarro Sees ‘Significant’ USMCA Flaws - TT US and Taiwan sign trade agreement to seal chip investment South Africa's Ramaphosa to deploy army to combat crime Another government shutdown could be underway this weekend CBRE Beats Earnings Estimates for Q4 — But ‘AI Scare Trade’ Dings Share Price – Commercial Observer “AI” is a neat headline, but it doesn’t explain a 30% drop in two days. AI disruption is a slow, multi‑year margin story; this kind of move is about liquidity and the fee pool. CBRE is effectively a proxy for real estate deal and refinancing volumes, so when cap rates reset, lenders tighten, and price discovery stalls, volumes – and therefore fees – are the first things to vanish. That’s still fundamentals, just not the kind that shows up cleanly in last quarter’s EPS. The real tell is what had to change in the deal and financing backdrop to justify such a sudden repricing: this isn’t AI eating brokerage, it’s a frozen transaction market and a more fragile financing window than investors assumed, and the stock is adjusting to that reality. Russia memo sees return to dollar system in pitch for Trump | Financial Post Microsoft is building its own AI model Sarcastic Friday mood Peter Girnus 🦅 on X: "I am the Chief Responsibility Officer at an AI company that just raised thirty billion dollars. My title was created in 2023. My budget was cut in 2024. My team resigned in 2025. My title still exists because it tested well with institutional investors. This week we closed a" / X

US lawmakers slammed Pam Bondi over handling of Epstein files Markets : Investors in the Hyperscalers could soon realize their stock price was "rewarded" mainly for buybacks and not this AI spending, #JPY BoJ is expected to hike rates to 1.00% in April (BoA) >>> NFP data (clearly manipulated, perfect insider trading..just like organized crime..spread the words all week, call it super low, and.. comes out stronger than expected.. classic..) , Meta is paying $6.5 billion extra in interest to keep $27 billion in AI infrastructure debt off its balance sheet (Thread) , US House voted to end Trump’s tariffs on Canada S House voted to end Trump’s tariffs on Canada, World’s Largest Pension Fund (Dutch ABP) dumped 30% of Treasuries...not just a small Pension fund anymore..look most of them have...! ..and they ain't coming back... for a long while.. >>> a decent DE-dollarization trade in 2026 now looks on the cards, be prepared (USDputs), various #U.S brands will continue to struggle, as the likes of EU, China and others choose their own techs and products..., it's all collapsing underneath in the U.S admin... The federal deficit  and national debt  are expected to grow by trillions of dollars over the next decade, according to 10-year projections  from the nonpartisan Congressional Budget Office (CBO) Trade : Trump privately weighs exiting the USMCA trade pact he negotiated, UK and Canadian firms suspend future ties to UAE's DP World after CEO's emails with Epstein Geopolitics : China and Russia say they will take action against Israel if it attacks Iran, US airforce will use deadly force against aircraft that violate EL Paso NOTAM area if they are deemed a threat, VdL : If 27 states won't agree on Capital Market Union, I will move ahead with 9 states, US lawmakers slam Pam Bondi over handling of Epstein files, Xi Jinping: Those who forget their ancestors, betray the motherland, or seek to divide the country will come to no good end, also, "American moral scandals raise a simple question: how can someone who does not respect themselves command respect from the world?" , BYD overtakes Ford in global vehicle sales.” Just 5 years ago, Ford sold 5 times as many vehicles as BYD Germany's Merz: We must deregulate every sector. I call for a “regulatory clean slate.” Minor corrections to laws are not sufficient. We need to systematically review the whole set of existing EU legislation >> DO it ! real German leadership there! Attorney General Pam Bondi Refuses To Apologize To Epstein Victims For Failing To Redact Their Names During Explosive House Hearing - uPolitics Rep. Jesús García comes out swinging: "You're one of the worst attorney generals in our history and an instrument of Donald Trump's lawless authoritarian agenda, and I'm glad the American people are seeing who you are." Popular Liberal 🇺🇸 on X: "BOOM! Jamie Raskin served Pam Bondi a devastating reality check in just minutes. Checkmate! While Bondi sat there stone-faced, Raskin brought Epstein victims to expose her incompetence. He revealed how she scrubbed Trump's name from files, released victims' names, and held back https://t.co/9OYFlmn3o4 " / X Merz calls on Germans to work more — and draws a withering backlash – POLITICO This is real German leadership. Whilst we must remember that the EPP was the architect of almost every regulation passed by the EU, we must also cheer Mr. Merz and praise his bold vision. Brussels NGO/Consultant complex, that profits from regulation is being defeated. Macron pushes for EU common debt capacity to fund Europe’s future Software’s AI stress test: mapping threats and opportunities across US and Europe | Saxo Bank Switzerland UK and Canadian firms suspend future ties to UAE's DP World after CEO's emails with Epstein | Middle East Eye Largest European pension fund ABP cut back US Treasury holdings last year | Reuters CBO raises deficit projection by $1.4 trillion over next 10 years compared with its prior forecast | Watch January jobs report beats expectations, but details tell a different story U.S. agency contradicts Trump: Tariffs dent economic growth Trump privately weighs exiting the USMCA trade pact he negotiated | World News - Business Standard Who are the six Republicans who voted against Trump’s Canada tariffs? Real Estate Services Stocks Sink in Latest ‘AI Scare Trade’ James Wood 武杰士 on X: "“I Just Returned From China. We Are Not Winning.” That’s the headline from Steven Rattner, not a fringe commentator, but a former Obama Treasury official writing in mainstream U.S. media and what’s surprising isn’t hostility toward China, it’s acceptance. He describes: – AI" / X China has power, literally. – More generating capacity. – Cheaper electricity for data centres. – Industrial scale that feeds AI growth. In the AI era, energy is leverage Hedgie on X: "🦔 Meta is paying $6.5 billion extra in interest to keep $27 billion in AI infrastructure debt off its balance sheet. They're using something called conduit financing, where a special purpose vehicle borrows the money, builds the data centers, and leases everything back to Meta. https://t.co/GIs0hAu0kM " / X UBS: +3000 Jobs in Hyderabad, -3000 in Zürich – Inside Paradeplatz

EU regulation is like kryptonite to our enemies/Thread, one does not have to be pro Brussels to agree with that... Italy overtakes Japan to become the world’s fourth-largest exporter , Big! A step toward Europe's own hypersonic strike capability. Bavarian military startup Hypersonica's first missile test on the Scandinavian peninsula was successful, The modular design shortens development time by years and cuts cost by 80%, and Spain + few others standing up to the big Tech Bros, keep it going ! Markets : The AI disruption trade just hit financial services, Spain moving in against social media giants (Musk having a fit), JPY did not weaken on the huge JPN election result (surprise.. for the USD bulls..), China and many others keep divesting away from the U.S, many U.S brands been hammered over the last many months >>> beware consumer power to 'avoid US names', eventually USDollar will struggle/continue to weaken Geopolitics : French President Emmanuel Macron has issued a stark warning: Trump’s agenda could “dismember” Europe , and the EU can no longer rely on compromise, Escaping the special relationship: How Britain can leave its dangerous dependency on Trump’s America #TSLA Tesla is about to be a US only company like GM and ford are headed..... Spoiler alert: it's pure fiction...Elon Musk will not build a colony or an outpost or so much as an outdoor toilet on the Moon. Not in ten years. Not in twenty years. Not ever, as long as everyone believes him, he can take your tax dollars.. ECB Chief Christine Lagarde says the E.U urgently needs an alternative to Mastercard Read an Anthropic AI safety lead's exit letter: 'The world is in peril' Escaping the special relationship: How Britain can leave its dangerous dependency on Trump’s America – European Council on Foreign Relations Elon Musk’s xAI loses co-founder Tony Wu in latest senior departure xAI lost 10+ major managers in a single day... Incriminating Epstein documents circulating internally Illegal activities in business were identified or pure coincidence.. Urso: "Italy has surpassed Japan as the world's fourth-largest exporter." Read an Anthropic AI safety lead's exit letter: 'The world is in peril' Trump says Fed pick Kevin Warsh can juice economic growth to 15% Defence Index on X: "🚨🇫🇷🇪🇺 Macron Warns: Europe Must Brace for a Clash with the US! French President Emmanuel Macron has issued a stark warning: Trump’s agenda could “dismember” Europe, and the EU can no longer rely on compromise. Macron urges Europe to: ◾Prepare for potential conflict with the https://t.co/OimzBrD73q " / X Epstein Files, 4 Chan, Tech Bros., Silicon Valley & the Online Far Right | Education Training Society Brokerage Stocks Are the Latest Corner of the Market Getting Slammed by AI - Business Insider Palantir hosts party for MoD to celebrate £240m defence contract Shall we all go and crash the party ? Tesla (TSLA) can't find the bottom in Europe as 2026 starts with another brutal decline | Electrek ‘I saw the writing on the wall’: Austria offers safe haven for US academics as Trump wages war on universities Joni Askola on X: "1/12 EU regulation is like kryptonite to our enemies🧵 https://t.co/eLQcFqOrYK " / X It’s a continental embarrassment that Europe has produced 0 stealth fighters. We are forced to buy American just to stay relevant. Meanwhile, the France-Germany infighting on the 6th-gen fighter is pathetic. Either we get our act together or stop complaining about US dependency HealthRanger on X: "Why Elon's "moon cities" fantasy is pure fiction: The dream of a bustling lunar metropolis shatters against the unforgiving reality of lunar environmental science. First and foremost is the lethal radiation environment. The Moon has no protective magnetosphere or substantial" / X

EU regulation is like kryptonite to our enemies/Thread, one does not have to be pro Brussels to agree with that... Italy overtakes Japan to become the world’s fourth-largest exporter , Big! A step toward Europe's own hypersonic strike capability. Bavarian military startup Hypersonica's first missile test on the Scandinavian peninsula was successful, The modular design shortens development time by years and cuts cost by 80%, and Spain + few others standing up to the big Tech Bros, keep it going ! Markets : The AI disruption trade just hit financial services, Spain moving in against social media giants (Musk having a fit), JPY did not weaken on the huge JPN election result (surprise.. for the USD bulls..), China and many others keep divesting away from the U.S, many U.S brands been hammered over the last many months >>> beware consumer power to 'avoid US names', eventually USDollar will struggle/continue to weaken Geopolitics : French President Emmanuel Macron has issued a stark warning: Trump’s agenda could “dismember” Europe , and the EU can no longer rely on compromise, Escaping the special relationship: How Britain can leave its dangerous dependency on Trump’s America #TSLA Tesla is about to be a US only company like GM and ford are headed..... Spoiler alert: it's pure fiction...Elon Musk will not build a colony or an outpost or so much as an outdoor toilet on the Moon. Not in ten years. Not in twenty years. Not ever, as long as everyone believes him, he can take your tax dollars.. ECB Chief Christine Lagarde says the E.U urgently needs an alternative to Mastercard Read an Anthropic AI safety lead's exit letter: 'The world is in peril' #BTC Bitcoin (and mainly other silly coins. .) is in its final stages, totally lost it's 'new kids interest'...Hundreds of billions have been invested into something with literally zero utility or intrinsic value, it still isn't and won't be digital gold, inflation hedge or a store of value.. Escaping the special relationship: How Britain can leave its dangerous dependency on Trump’s America – European Council on Foreign Relations Elon Musk’s xAI loses co-founder Tony Wu in latest senior departure xAI lost 10+ major managers in a single day... Incriminating Epstein documents circulating internally Illegal activities in business were identified or pure coincidence.. Urso: "Italy has surpassed Japan as the world's fourth-largest exporter." Read an Anthropic AI safety lead's exit letter: 'The world is in peril' Trump says Fed pick Kevin Warsh can juice economic growth to 15% Defence Index on X: "🚨🇫🇷🇪🇺 Macron Warns: Europe Must Brace for a Clash with the US! French President Emmanuel Macron has issued a stark warning: Trump’s agenda could “dismember” Europe, and the EU can no longer rely on compromise. Macron urges Europe to: ◾Prepare for potential conflict with the https://t.co/OimzBrD73q " / X Epstein Files, 4 Chan, Tech Bros., Silicon Valley & the Online Far Right | Education Training Society Brokerage Stocks Are the Latest Corner of the Market Getting Slammed by AI - Business Insider ... a startup that launched an AI tax planning tool isn't going to replace Schwab anytime soon. But its a real product doing in minutes what advisors charge thousands for. Palantir hosts party for MoD to celebrate £240m defence contract Shall we all go and crash the party ? Tesla (TSLA) can't find the bottom in Europe as 2026 starts with another brutal decline | Electrek ‘I saw the writing on the wall’: Austria offers safe haven for US academics as Trump wages war on universities Joni Askola on X: "1/12 EU regulation is like kryptonite to our enemies🧵 https://t.co/eLQcFqOrYK " / X It’s a continental embarrassment that Europe has produced 0 stealth fighters. We are forced to buy American just to stay relevant. Meanwhile, the France-Germany infighting on the 6th-gen fighter is pathetic. Either we get our act together or stop complaining about US dependency HealthRanger on X: "Why Elon's "moon cities" fantasy is pure fiction: The dream of a bustling lunar metropolis shatters against the unforgiving reality of lunar environmental science. First and foremost is the lethal radiation environment. The Moon has no protective magnetosphere or substantial" / X

Pam Bondi says America will "collapse" if what's truly in the Epstein files were to be released... just the beginning.. quite a few more BIG company CEO's and politicians will implode and take early retirement...MASSIVE cover-up..bigger than Watergate... Markets :  Insurance brokers crushed after OpenAi approved the first insurer-built Ai app on ChatGPT (fabulous... one company who hardly employs anyone, nor pays any taxes, crushes a perfectly legitimate businesses...) , Gold and Rates correlation breakdown (Apollo) >>> patches of weakness in some sectors, but overall, markets holding up well, precious metals found a base after the initial 'margin call, forced liquidation few days'.. USdollar not doing a whole lot, overall soft(er), USDJPY let's hear how drastic new PM wants to be with spending, etc.. Geopolitics : Iran's Ballistic Missiles put US Bases on notice, EU-US tensions over Greenland and tech are far from over, says Macron See list of personal data you now need to share to enter the US. Otherwise you may need to go home at your expense / Thread Stephen Miran  advocated a smaller Fed balance sheet while maintaining the option for large-scale asset purchases during crises.  Christopher Waller  said the crypto euphoria sparked by Trump’s election may be waning amid a market selloff. (BBG) Donald Trump’s effort to ban investment firms from buying single-family homes is meeting resistance from Republican lawmakers. (WSJ) Much to the frustration of the quant community, when the Fed started raising interest rates in 2022, the strong correlation between gold and real rates broke down, see chart below (imho it's all about debt and debasement, 100bps here and there make no difference..), Trump and Co will run down the U.S in debt...and isolate itself (China again on UST's selling over the weekend) New020926-Chart_v2.pdf China is “selling” America, but the rest of the world is still buying | Invezz EU-US tensions over Greenland and tech are far from over, says Macron The January jobs report is coming. The White House braces for bad news Iran's Ballistic Missiles Put US Bases on Notice. This Is The Pentagon's Red Zone | Middle East - Times Now Insurance brokers : From GS – “The immediate feedback still is a degree on confusion & the top question is 'Why would this primarily impact the brokers (who primarily do commercial .. think there's only home insurance at the majors for high net worth)' .. with a few arguing it's 1) more negative for personal insurance carriers given greater price transparency/shopping/competition, and 2) Insurance brokers dealing in more specialty products should be better insulated given complexity. All that said, there's certainly a degree of 'don't fight the narrative' .. and this is all very fresh/fluid at the moment” Brian Allen on X: "🚨 Rep. Stansbury doesn’t mince words: “The United States government is engaged in an active cover-up of the largest sex-trafficking and influence-peddling scandal in our history — and Donald Trump is right at the center of it.” That’s a sitting member of Congress saying it out https://t.co/m3DnOD93p3 " / X Top 10 most shocking revelations from the Epstein Files – 5Pillars Japan’s ruling party secures historic election victory – but challenges lie ahead Novo Nordisk sues Hims & Hers over knockoff weight loss drugs Volvo Car AB stock sinks 22% as Q4 profit slumps and tariffs bite Blue Owl Founders Pledged $1.9 Billion Stake Before Stock Plunge Decline in travel to United States set to continue - SWI swissinfo.ch The Hijacking of Bitcoin Quite honestly... in recent months, this is when the coins should have rallied... they pretty much all got destroyed, still not a payment system, still not a currency, let alone a reserve currency, still not a safe heaven (clearly..), so what good it it for exactly ?,,,,apart from burning energy and facilitating fraud... ?.. OH yes there was this the other day too... total fraud...   George Noble on X: "Jim Cramer is a FRAUD. This guy really just went on CNBC and said the government is buying Bitcoin at $60,000. Let me tell you why his narrative (and Bitcoin) is COMPLETE NONSENSE: Friday, Bitcoin crashes to $60,000. Down 52% from its October high. Over $1.2 trillion in value https://t.co/Z2zGrYgjIx " / X Emmanuel Pernot-Leplay on X: "🇺🇸✈️Here is the list of personal data you now need to share to enter the US. Otherwise you may need to go home at your expense 👇 - Social media accounts (last 5 years) - Email addresses (10 years) - Biometrics: face, DNA, iris, fingerprint - IP addresses & metadata from photos" / X

Spain's PM Pedro Sanchez is proving to be the kind of leader Europe needs Markets : Spain stands UP to social media GIANTS , AI isn't going to disappear, but it's been overinflated, overvalued, and its use cases overexaggerated, only a few Tech Bros benefit (AI peak..unlike in China where everyone down below benefits, SME's etc), the US yield curve has steadily steepened, the 2s/10s is now the widest going back to January 2022, JOLTs Job Openings Rise To 8.04 Million (higher than exp) , even Trump’s own billionaire donors are bailing, AMZN a beat + a huge CAPEX announced, RioTinto breaks Glencore merger talks >>> margin calls hitting many strategies, momentum, quants, techs, crypto coins and stocks (it's all too often the same trade, it is again..), continue to think Warsch won't be that accommodative (he wants to reduce FED balance-sheet), so a general 'sell tech-crowded trades-rallies, reduce risk' is wise, while looking for opportunities in the value sector, keep rotating ! (DOW so far unch..) Geopolitics : US and Iranian officials are scheduled to meet in Oman for talks today. The US virtual embassy in Iran is advising American citizens to leave the country,   EU Commission trials European open source communications software Australia has passed a Bill that will limit the total spending on a party by billionaires like Elon Musk to Just $50,000 The Week Anthropic Tanked the Market and Pulled Ahead of Its Rivals. Once a distant second or third in the AI race, the company is moving to the front with a focus on caution, coding and business clients. (WSJ) #BTC Bitcoin has now closed below the previous cycle's peak of roughly $69,000 from November 2021. This is the first time in its entire 15-year existence that price has dropped back under the prior cycle's all-time high after breaking above it Tom Lee, the chairman of BitMine Immersion Technologies (BMNR), is sitting on a whopping +$8 billion unrealised loss on his ETH holdings... US job openings fall to lowest level in over 5 years, signaling sluggish labor market | AP News Commission trials European open source communications software | Euractiv US Treasury's Bessent says he was wrong when he said tariffs could be inflationary | Reuters Spain's leader wants the EU to ‘make social media great again.’ Here's how | The Independent Behind its booming economy, Sanchez' Spain is charting course other EU countries may follow: de-risking from US; standing up to Trump; regulating digital space; advocating strategic autonomy; promoting social programs; backing Palestine; regulating migration Anthropic’s AI Coup Sends Shockwaves Through Tech: Winners, Losers, and What’s Next | Strykr | Strykr Anthropic is releasing a new version of its most powerful AI model that’s designed to carry out financial research, days after the company’s push into legal services upended the stocks of legacy software makers.  The company on Thursday unveiled Claude Opus 4.6, which it says can scrutinize company data, regulatory filings and market information to come up with detailed financial analyses that would normally take a person days to complete Tom Lee's Bitmine now $8 billion underwater as ether tumbles below $2,000 Scrap Palantir UK contracts over Mandelson links, Zack Polanski says | The National I’m sorry for appointing Mandelson and believing his Epstein lies, Starmer says | The Independent Amazon stock falls after earnings on $200 billion capex plan Glencore shares slide after Rio Tinto merger unravels Big Tech’s ‘breathtaking’ $660bn spending spree reignites AI bubble fears The facts and timeline of Trump and Epstein’s falling out | PBS News French Response on X: "Hola Spain, we’ve been there🤝 – Platform owner weaponises it to blast every user against national law – Attacks gov – Gets backed by Russian &tech bros – Harbors drug retail channels – Plays victim of “oppression” – Starts all over again Hold the line,🇪🇸 It’s platform regulation" / X Bitcoin treasury Strategy posts $12.4b Q4 loss but Saylor tells investors not to panic Bitcoin Drops Below $61,000, Wiping Out Gain Since Trumps Win Novara Media on X: "Jeffrey Epstein co-owned a venture capital fund controlled by Peter Thiel, founder of spytech firm Palantir which is now deeply embedded in the British state. The latest Epstein files drop from the US Ministry of Justice shows that billionaire Thiel maintained a business https://t.co/7wEP2VVJje " / X NoLimit on X: "*THIS IS YOUR WARNING* I just left a private meeting with three UHNW individuals. The situation is significantly worse than I thought. They’re aggressively liquidating public equity positions to cover margin calls and holes in their private portfolios. They believe the cycle" / X They’re aggressively liquidating public equity positions to cover margin calls and holes in their private portfolios