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Markets : #NVDA  it's a beat of course, but no less than -7- accounting tricks to achieve this ''manufactured beat''.., and Jensen says demand is “off the charts,” but the cash levels disagrees and so do higher inventories (Thread ), FED cut in Dec is 50/50, no consensus (probably what the FED wants..), BOJ board member suggests chance of December hike after yen drop, Oracle CDS still up nearly up to 2022 highs, even Scott Bessent days look limited now ! Japanese government bond yields surged to its highest since 1999, causing a surge in cost of borrowing. Disastrous for the highly indebted Japanese government #JPY #JGB, All this happened within one month of Takaichi taking office... Geo-politics : Trump Says He Will Meet With Mamdani Friday at the White House, The US signaled to President Volodymyr Zelenskiy that Ukraine must accept a US-drafted framework to end the war with Russia that proposes Kyiv giving up territory and some weapons, two people familiar with the matter said Trump signed legislation Wednesday that compels his administration to release files on convicted sex offender Jeffrey Epstein, not before they are looked at.. Waiting for the Bondi and national security headlines on Epstein release to hit wires next...to make sure that many files cannot possibly be released..>>>> "Epstein had close ties to our own intelligence agency and Israel's intelligence agencies." - Republican Rep. Thomas Massie, even Larry Summers announced he was taking a leave from teaching at Harvard as President Trump signs a bill releasing the Epstein files U.S. Housing Market 53% of homes have lost value over the last year , the highest share of depreciation in 13 years - mind you it should be welcome to 'would be buyers'.. and The share of Americans unemployed for over 27 weeks reached 25.7%, the highest share since 2021, The office vacancy rate in the US has moved up to 20.7%, the highest level in history #MACRO Dinner with Mr Brexit : Bannon's European revolution, planned with Farage and backed by Epstein.. big if true John Major says Brexit was an act of collective folly. It made Britain poorer, weaker and cut off from the world’s biggest market Jensen Huang was upbeat. “There’s been a lot of talk about an AI bubble. From our vantage point, we see something very different,” he said, added he has ample Blackwell chips to meet demand. => stock up +6% after hours >>> "If Google were to make those TPUs commercially available at scale and reasonable price, Nvidia’s dominance would end, price wars would begin, and compute would become a commodity." The Coastal Journal on X: "Our $NVDA report is out now and we go over the 7 accounting tricks they use to “beat” earnings Link: https://t.co/zZS1a1WZUS " / X Also...something the bears to cling on to: inventories are up 32% quarter-over-quarter Markets rethink December rate cut amid Fed doubts Fed minutes: October 2025 A lot of back dated weak macro data likely to come out, so one would think markets will soon price full cut again.. BOJ board member suggests chance of December hike after yen drop - The Japan Times Russia's central bank says its operations with gold are increasing | Reuters Of course he does.. hardly anything UKR can agree too ? Ukraine updates: Trump approved peace deal, report says - Yahoo News UK Offhand remark, symbolic suit signal long winter for Japan-China ties | Reuters Trump signs bill to release Epstein files | AP News Dinner with Mr Brexit: Bannon’s European Revolution – Planned with Farage, Backed by Epstein – Byline Times Bitcoin and Gold increasingly seen by investors as better together – The Armchair Trader One Hyde Park flat sells at £26m loss - Spear's Gary Marcus on X: "Hot take on Gemini 3. Points 4 and 5 might literally change the world. Also, OpenAI is in trouble. • Great model, but it’s not AGI; has the same kind of problems all earlier models have had. Hallucinations and unreliability persist. • In short, scaling isn’t getting us to" / X Reform MS Laura Anne Jones suspended from Senedd over racial slur Liz Webster on X: "🚨 BREAKING: John Major says Brexit was an act of collective folly. It made Britain poorer, weaker and cut off from the world’s biggest market. He’s right and it’s exactly what the data, the job losses, the exodus of British citizens, the collapsing industries and the EU’s new https://t.co/BUqpjxfvkE " / X Check out their faces... unreal.. Molly Ploofkins on X: "“Will you release all the files within 30 days?” BONDI: “We’ll continue to follow the law.” “You said no addition investigation was warranted. What changed?” BONDI: “Information that has come.. Information. Um, there's new information. Additional information.” https://t.co/5aaM1zlcmK " / X Global Markets Investor on X: "🔴HOLY COW: The share of Americans unemployed for over 27 weeks reached 25.7%, the highest share since 2021. Excluding the 2020-2021 period, this is the highest share in 9 YEARS. This comes as 1.9 MILLION Americans have been unemployed for 27+ weeks, the most in 4 years. https://t.co/58tsuu32fR " / X

Trump thinks he knows choice for Fed Chair >> most likely Hassett >> tell : Gold, Silver rallied on the news yesterday House Speaker Mike Johnson says that releasing the Epstein files without redactions could pose a '''national security risk...'''''.... Markets : JGB yields reaching all time highs at 3.35% (margin costs, carry trade etc..warnings), Office CMBS Delinquency Rate jumps to 11.8%, the highest level in history, Home Depot's earnings a tell about housing market, Google boss warns 'no company is going to be immune' if AI bubble bursts , BOJ chief to meet finance, economy ministers as monetary policy, weak yen in focus, Trade : Aluminum is the next victim of Trump’s trade policy mistakes (thread), EU confirms it wants UK to pay into its budget in exchange for closer ties, Australia to mandate 3 hours of free electricity amid renewables glut, China suspends JPN food import Geopolitics : Axios : Scoop: U.S. secretly drafting new plan to end Ukraine war Investors are holding one of the lowest proportions of cash in modern history: November BofA global fund manager survey. "Cash levels of 3.7% or lower has occurred 20 times since 2002, & on every occasion stocks fell and Treasuries outperformed in the following 1-3 months:" BofA Rothschild downgraded Amazon and Microsoft to neutral, arguing AI infrastructure requires six times the capital to generate the same economic value as the original cloud shift . For every $1 spent on AI infrastructure, the estimated net present value is just 20 cents, while mature traditional cloud investments generate roughly $1.40 for every dollar spent Trump Says He Thinks He Already Knows Choice for Fed Chair Hassett most likely, hence Gold and Silver rallied yesterday on the news.. Traders hedge against Fed cut even as odds of reduction diminish US secretly drafting Ukraine peace plan with Russian input EU confirms it wants UK to pay into its budget in exchange for closer ties | European Union | The Guardian UK (CPI) rose by 3.6% in the 12 months to October 2025, down from 3.8% in September 2025, budget Wednesday next week Australia Mandating Three Hours a Day of Free Power for Australian Wage Gains Cement Case for Prolonged RBA Pause “National Security” Blocks Epstein Files Release Elon Musk attends Trump's dinner with Saudi crown prince | Reuters JP30Y: Japan 30 Year Treasury - Stock Price, Quote and News - CNBC Chart - JGB yields reaching all time highs at 3.35% BOJ chief to meet finance, economy ministers as monetary policy, weak yen in focus By Reuters Oracle’s astonishing $300bn OpenAI deal is now valued at minus $74bn Google boss says trillion-dollar AI investment boom has 'elements of irrationality' Why Amazon and Microsoft's stocks could be in trouble due to AI's destructive economics | Morningstar Home Depot Q3 earnings show the state of U.S. housing market Blue Owl Capital: Stock Movements #shadowbanking mess - Blue Owl’s shares have led losses among private credit firms, losing 5.8% yesterday & 28% in the past 2 months. The firm has invested heavily in data centers, w/25% of its fund in real estate and digital infrastructure, and has limited some redemptions Gundlach sees one of the 'least healthy' stock markets of his career Alexander Stahel 🌻 on X: "Aluminum is the next victim of Trump’s trade policy mistakes. Trump set aluminum tariffs at 25% in Feb and doubled the rate in June in what he said is an effort to protect American industry. Consequently, US importers turned to domestic supplies to try and evade paying the https://t.co/mz78P941M7 " / X

Markets : BTC given up all of its 2025 gains, flat on ther year, down 30pct from highs, mind the gap sub -92K they say #sentiment broken , Japan's 20Y Government Bond Yield surges to 2.78%, the highest level in history, as the government prepares a $110 billion stimulus package, #AI #VALUATIONS !... #Amazon now with $15bn bond offering for AI xpansion , The Beat-and-Raise Machine Meets the Law of Big Numbers: Jensen Huang’s Playbook to Keep the Bubble Inflated (Thread, well worth a read) >>> markets beginning to break decent tech levels, underneth it all it's already broken, including crypto and BTC... bunker down... FXlalaland, pretty quiet,CROSSJPY's do look a little high, too high, let's see, precious metals unwinding of longs too on risk-off, await patiently for a decent dip in GOLD, Silver etc Geopolitics : 60 Minutes just dropped a bomb: Changpeng Zhao — a billionaire felon — got a presidential pardon months after his company enriched a Trump family crypto firm, UN Security Council approves Trump's Gaza plan Crypto market sheds $1.2tn as traders shun speculative assets. Bitcoin drops 28% in six weeks as worries over AI stocks spill into digital assets and high-octane bets backfire. (FT), Crypto Market Faces Turbulence as Major Tokens Sink and Liquidations Skyrocket Ahead of #NVDA earnigns tomorrow evening, please read : Kakashii on X: "The Beat-and-Raise Machine Meets the Law of Big Numbers: Jensen Huang’s Playbook to Keep the Bubble Inflated The recent moves and developments from Nvidia since its last earnings call in August are no coincidence. Every step has been carefully and sophisticatedly planned by https://t.co/THiW76H7I2 " / X Trump pardon of crypto billionaire sparks concerns over his use of the pardon power - CBS News Scott Bessent urges trust in China amid fresh trade deal doubts Bad Deal? Novartis, Roche – Pharma ab in die USA – Inside Paradeplatz Trump says he would sign bill releasing Epstein files if Congress passes it #LIQUIDITY squeeze Forget the AI Bubble: This Hidden Liquidity Squeeze Moved the Entire Market Bitcoin price hits lowest level in 6 months amid Fed jitters Crypto Market Faces Turbulence as Major Tokens Sink and Liquidations Skyrocket | The Currency analytics Regulate AI, before it's too late, or governments better have a plan, and a solid one... Rohan Paul on X: "AI will wipe out 50% of entry-level white collar roles in law, finance, and consulting in 5 years. Because a lot of what these white-collar workers do, AI models are already quite good at without intervention. Anthropic’s CEO. https://t.co/UfrcnwxN8d " / X Fed’s Waller backs another cut as job market nears ‘stall speed’ Oil Steadies as Geopolitical Risks Counter Russia Port Restart Middle East: UN Security Council approves Trump's Gaza plan - Yahoo News UK Amazon Launches $15 Billion Bond Offering to Fuel AI Expansion Wall Street Blows Past Bubble Worries to Supercharge AI Spending Frenzy - WSJ This is why people have grown increasingly worried about the financing behind AI over the past few months: bond issuance has surged since September, and global financing of data centers is expected to balloon to almost $3 trillion just through 2028 CoreWeave (CRWV) Stock Down 30% Following Q3 Earnings and Guidance Cut - Blockonomi '''' they spending $310mio on interest expense against just $51.9 million in operating income, borrowing money to pay interest on previous loans. The AI data center company went public in March at $40 per share, peaked at $187 in June, and now trades around $75 while carrying $14 billion in debt''''

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