Friday's News Links

[CNBC] S&P 500 futures are little changed as index heads for losing week: Live updates

[CNBC] Fed’s Warsh says AI path will be ‘very bumpy’ but ultimately ‘very good’ for wealth

[Reuters] Calm after CoreWeave shock, but for how long?

[AP] Drone strikes in the Black Sea raise fears of Russian escalation to test NATO’s response

[Bloomberg] China’s National Team Signals Return With Heavy ETF Inflows

[WSJ] AI Runs Into Its Next Big Obstacle: Insurance

[FT] Anthropic secured highest junk credit rating in June

[FT] Tett: The secret fight around financial flows

[FT] What do the Houthis want?

Thursday Evening Links

[CNBC] Stock futures are little changed as S&P 500 heads for losing week: Live updates

[Yahoo/Bloomberg] Anthropic Stands Alone as Rest of US IPO Market Slows to a Crawl

[Yahoo/Reuters] Fed's Hammack warns inflation expectations deterioration could require Fed response

[Yahoo/Bloomberg] CoreWeave Founders Shield Fortunes With $3.3 Billion Stock Sales

[Yahoo/Bloomberg] Europe Reckons With a World Where Trump Is Now Helping Putin

[WSJ] The Riskiest Corner of the AI Trade Is Crashing Into Higher Rates

[WSJ] The Market’s Rude Reminder on AI

Intraday Chart Updates at the New CBB Website

Yesterday's market confirmed risk aversion is gaining momentum.  Financial conditions indictors show ongoing tightening (i.e. yields, high yield CDS/spreads). Oracle and AI-related bond yields broke out to new highs.  High yield CDS jumped to a six-month high - with high yield spreads at a six-month wide and leverage loan prices at a six-month low. I'll be updating charts intraday at the new website.  Check out the Timely Charts on the home page and Financial Conditions charts on the Charts page.  New CBB site link

Thursday Afternoon Links

[CNBC] Dow jumps, Nasdaq slides as investors rotate out of tech shares: Live updates

[CNBC] CoreWeave credit default swaps hit distress levels as investors sour on AI debt

[Reuters] CoreWeave's AI contracts and the lenders financing its build-out

[Axios] The too-hot-for-comfort economy

[Axios] Fed's Beige Book tells inflation story

[AP] US consumers are muscling through higher prices, but for how long?

[AP] Average long-term US mortgage rate holds at 7.4%, remaining at highest level in nearly 3 years

[AP] FBI agents and analysts fired for roles in Trump classified files probe sue to get their jobs back

[Bloomberg] A $1 Trillion Chip Rout Draws Billions Into Leveraged ETF Bets

[Bloomberg] UK Sends Ukraine More Storm Shadow Missiles to Hit Russian Sites

[NYT] Why Does Saudi Arabia Struggle to Stop Houthi Attacks?

[NYT] To Inflict Economic Pain, Russia and Ukraine Strike at Data Centers

[WSJ] AI Boom Shields Select Few Nations as Economic Pain Sweeps Globe

[WSJ] Mark Walter Probe Dings a Guggenheim Funding Machine That Powers Wall Street

[FT] Treasuries rally as investors seek shelter from AI turbulence

[FT] Risk of an AI crunch for stock markets is rising