💬New Philochat
NOT business as usual.
"The House" is losing
The US 10-Year broke the 5% level and moving up - exactly as we expected in the last Philochat.
"But this time I think it's going to break it and move higher."
What comes next for the newest Emerging Market play? 😆
--> Bessent's Relapse to be sent out to subscribers.
Brazilian Elections
Brazilians decide who they want as their President this Sunday. Another term of Lula, or Bolsonaro's son and a different type of rule - both promising the same things!
In Flash Philo on Brazil we deconstructed the trade on both stocks and bonds - and traced where the asymmetry lies.
Anthropic IPO
Anthropic signalling that it will be IPO before Thanksgiving (Nov 26th). Even though ANT and SPCX both benefit from HYPE valuations, I think ANT will behave differently than SPCX after the IPO.
I will share my thoughts in a Flash Philo piece on Anthropic soon.
For now, read Data Center Strikes Back for a prophecy on where AI Labs are going.
Where is your 401(k) headed?
Explore Philo’s Academy here.
