Episode Details

US equity futures are firmer, while Asian equity markets are mixed and European equities are higher. Rates remain a key focus after hotter-than-expected US inflation drove the sharpest daily rise in Treasury yields since April 2025. Hawkish Fed commentary has added to tightening expectations, with markets now pricing an approximately 85% chance of a December rate hike and a greater likelihood of three additional hikes in 2027. Meanwhile, the AI trade is recovering, supported by cleaner positioning and some pushback against concerns over a slowdown in US data-center investment, alongside positive updates from CoreWeave, Anthropic and OpenAI.

Companies Mentioned: Anthropic, Kalshi, Rio Tinto