Friday's News Links

[CNBC] Nasdaq rises as Wall Street rebounds; South Korea’s Kospi soars 15%: Live updates

[AP] South Korea’s Kospi index jumps more than 18% on a surge of chipmaking stocks

[CNBC] Oil prices move higher as recovering Hormuz Strait traffic tempers war premium

[Reuters] Stocks climb as strong tech results reignite AI trade, yen swings

[Yahoo/Bloomberg] Dollar Heads for Worst Week in Three Months as Fed Doubts Grow

[Yahoo/Reuters] Rare Japan-Korea joint intervention sends strong message to markets

[Reuters] Fed chief Warsh faces hard choice on inflation after bond market's 'red flag'

[Yahoo/Reuters] Fed's Hammack says tighter monetary policy needed to cool inflation

[Yahoo Finance] Trump administration rolls back red tape on smallest US banks to boost lending

[Reuters] BOJ keeps rates steady, delivers hawkish signal as government props up yen

[Reuters] What is AI model distillation and why is it becoming a US-China flashpoint?

[Reuters] Brazil's budget deficit nears pandemic-era levels as fiscal concerns linger

[Bloomberg] Fed Dissenters Say Rate Hikes Needed to Tame High Inflation

[Bloomberg] Citadel’s Big Buy Halts Downward Spiral in Still-Frothy AI Trade

[Bloomberg] Traders Gird for More S&P 500 Volatility as Marco Risks Rise

[Bloomberg] China’s Factories, Construction Slump in Sign Slowdown Spreading

[Bloomberg] Taiwan’s Economy Clocks Fastest First-Half Growth Since 1976

[NYT] Larry Ellison Bet It All on the A.I. Boom. Will He Be the Face of the A.I. Bubble?

[NYT] Inflation Worries Prompted Fed Officials to Dissent on Holding Rates Steady

[NYT] Europe Is Caught Between Low Gas Reserves and Rising Prices From Iran War

[WSJ] Kevin Warsh’s Honeymoon With the Bond Market Is Already Over

[WSJ] Two Fed Officials Say Inflation Should Have Prompted Higher Rates

[WSJ] Situational Awareness Down 67% in July in AI Stock Rout

[WSJ] Tankers Are Being Blown Out of the Water. See How Mideast Strikes Are Piling Up.

[WSJ] Pentagon Commits Over $120 Billion for Patriot Missiles, Submarines

[WSJ] The Rising Number of Uninsured Patients Starts to Hit Hospitals

[WSJ] Bank of Japan Stands Pat, Continues to See Inflation Around 2%

[FT] Big Tech AI spending spree tops $1tn

[FT] How Leopold Aschenbrenner, the ‘golden child’ of the AI trade, was laid low

[FT] Anthropic’s Claude AI models hack into 3 outside groups during testing

[FT] Federal Reserve rate dissenters warn of challenges in taming inflation

[FT] Bank of Japan governor vows not to ‘fall behind the curve’

Thursday Evening Links

[CNBC] Nasdaq futures rise after strong rebound on Wall Street, Amazon surges after earnings: Live updates

[AP] Microsoft’s best day since 2008 leads US stocks, while inflation worries remain in the bond market

[CNBC] Amazon hikes 2026 capex to $220 billion due to higher memory costs

[Yahoo/Bloomberg] Trump Faces Escalation Conundrum as Iran War Flares Once Again

[AP] Here’s why new fronts seem to be opening up across the Middle East

[Yahoo/Bloomberg] Warsh Hints at New Inflation Roadmap, Stoking Investor Angst

[Yahoo/Bloomberg] ‘Talk Is Cheap’: Wall Street Delivers Harsh Verdict on Warsh Fed

[Yahoo/Reuters] Major central banks steer a cautious hiking path

[Bloomberg] Dudley: Kevin Warsh’s Approach to Fed Policy Is Deeply Flawed

[Bloomberg] How Warsh Left Investors Baffled at His Second Press Conference

[Bloomberg] Fitch’s Private Credit Default Rate Hit Record in Second Quarter

[Bloomberg] Situational Awareness Drops to $10 Billion as Citadel Steps In

[Bloomberg] Who Is Leopold Aschenbrenner and Why Is Wall Street Watching?

[Bloomberg] Record Fed Funds Short Hedging Rate Hike Unravels After Hold

[Bloomberg] Companies Are Cutting Costs By Skimping on Ingredients

[NYT] Bond Investors’ Inflation Angst Rises on Fed’s Lack of Guidance

[NYT] Floundering A.I. ‘Nostradamus’ Hedge Fund Is Rescued by Rival

[WSJ] Trump Looks Away From Iran’s Allies

[FT] Japan’s yen jumps 3% as speculation over intervention swirls

[FT] Kevin Warsh’s concerning communication style

[FT] Saudi Arabia announces maritime defence coalition as Houthi attacks threaten Red Sea route

[FT] CoreWeave bows to investor pushback on debt linked to Anthropic contracts

[FT] Citadel buys Situational Awareness equity holdings after steep AI losses

thecreditbubblebulletin.com

Good day to check out the new site - thecreditbubblebulletin.com.  The “Timely Charts” on the home page and the “Financial Conditions” section of the “Charts” page are updated daily as we monitor key market developments.  Take special note of the week's moves in the VIX, High Yield, Investment-grade and EM CDS, along with the breakdowns in the SOX and MAG7 indices.