Sunday's News Links

[Yahoo/Bloomberg] Bonds Face a Bigger Threat Than the Fed as Global Rates Climb

[Yahoo/Reuters] With Fed mum on next move, investors look to earnings to keep stocks afloat

[Yahoo/Bloomberg] At AI-Fueled Market Party, Wall Street Eyes the Rates Punch Bowl

[Axios] Scoop: Inside Trump's secret backchannel to Iran's Revolutionary Guard

[AP] US pulls last aircraft carrier in Asia as Trump focuses on Iran and the Western Hemisphere

[AP] Ukraine launches one of its largest aerial attacks of the war, killing at least 6 people in Russia

[Politico] NATO fighter jet shoots down drone over Romania

[Bloomberg] Bond Traders Are Agonizing Over $70 Billion of Shadow Credit Backstops For AI Companies

[Bloomberg] Traders Get Pickier After Big Run in $886 Billion EM Debt Market

[NYT] As Iran War Turns Into Economic Battle, a New U.S. Strategy Recalls Old Ones

[NYT] As China Pushes to Expand in Asia, Trump Focuses on Iran

[NYT] With A.I. Riches at Stake, Pressures Mount to Share the Wealth

[WSJ] Central Banks Are Stuck in a Rinse-and-Repeat Cycle of Crises

[WSJ] The Risk-Amplifying Strategy That Led to Big Losses at Situational Awareness

[WSJ] Big Manufacturers Find New Demand in Equipping AI Data Centers

[WSJ] This Sprawling Chinese Refinery Is Bankrolling Tehran

[WSJ] The Colorado River Is Shrinking. See How Authorities Are Trying to Save It.

[FT] Big Tech’s data centre boom poised to drive up carbon emissions

Saturday's News Links

[Reuters] Iran defiant on strait as Trump tells Americans to accept high gasoline prices

[Yahoo/Bloomberg] Iran, Oman Hone in on Hormuz Strait Deal as Ship Attacks Mount

[CNBC] Depleted strategic oil reserve nears level that raises concerns about damage to caverns, operations

[NBC] Iran rejects ‘delusions’ after Trump says he wants the Strait of Hormuz to be a U.S. territory

[Reuters] Jane Street took $15 billion hit in July tied to Situational Awareness, AI selloff, sources say

[Reuters] Anthropic IPO valuation hinges on $190-200 billion 2028 revenue forecast, sources say

[Axios] A Chinese lab's new model is nearly as good at hacking as U.S. AI

[Reuters] Rhine water sinks to another record low and transport shifts to land

[Bloomberg] What Bessent’s Economic Isolation Of Iran Could Look Like

[NYT] As Inflation Eats Up Pay Gains, Workers Fall Behind

[WSJ] The Iran War Is Now About Who Blinks First Under Economic Pressure

[WSJ] Nvidia Downsizes Plans for $250 Billion Guarantee of OpenAI Data Center

[FT] Jane Street suffers $15bn hit after meltdown at Situational Awareness

[FT] US aircraft carrier furore is emblem of growing disquiet over Iran war

[FT] Traders are spoiling for a fight over the yen