Markets, page 3
Where the money is moving, and what it means for the choices in front of you.
The Fed dot plot flipped to a hike. Warsh skipped his own dot.
The June dot plot moved from a cut to a hike and markets repriced in a day. The new chair refused to draw his own dot and may scrap the tool. Read the curve.
SpaceX wants $1.75T. The S&P 500 just removed the easy bid.
S&P Dow Jones denied SpaceX fast-track index entry on June 5. About $14B of forced passive buying is gone. The IPO has to price on Starlink and xAI now.
May jobs beat killed the 2026 rate-cut trade. Read the curve.
Nonfarm payrolls came in at 172K versus an 80K forecast. The 2-year ripped 11 basis points and hike odds jumped past 50%. Read the bond market.
Anthropic's $36B chip deal: read the Broadcom backstop
Apollo is raising $36 billion in private credit to buy Google TPUs for Anthropic. Broadcom is guaranteeing the resale value of its own chips.