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The ONLY time the market was this overbought faster, was when Volcker cut rates from 13% in 1982.
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*META'S MAY LAYOFFS EXPECTED TO HIT ABOUT 10% OF WORKFORCE: RTRS
*META TARGETS MAY 20 FOR FIRST WAVE OF LAYOFFS: REUTERS
*META IS PLANNING ADDITIONAL FIRM-WIDE CUTS LATER IN 2026: RTRS
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JUST IN: Nearly half of the U.S. data centers planned for 2026 are reportedly expected to be delayed or canceled.
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BREAKING: Trump will unveil a $1,500,000,000,000 defense budget request for the next fiscal year, per Reuters
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Private Credit firm Blue Owl Capital has been hit by $5.4 billion of redemption requests, per FT
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"Warren Buffett cautioned that he’s seeing signs of fragility emerging in the banking system as it has become more connected to non-bank players," per Bloomberg.
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The Federal Reserve and US regulators have proposed loosening capital requirements for large banks, per the Guardian
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Hayek on what cured him of socialism:
“I turned to economics because I was half a socialist. I was crying for social justice. But it didn’t long survive my study of economics.”
“In 1922, when I was 23, Mises’s book on socialism came out—and that cured me forever.”
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Holy shit, the Federal Reserve's purchases of short duration T-Bills just hit $381B!
We're now almost $60B above the height of the 2020 REPO bank crisis "virus".
What is going on in the banking system?
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I want you to understand how unusual this is.
6:49 AM on Monday: A sudden surge in oil futures trading, approximately $580 million in volume, no news, no announcement, nothing public.
7:05 AM: Trump announces a pause on Iran strikes. Markets move immediately.
Roughly $580 million in contracts were placed about 16 minutes ahead of the news.
Unusual.



























