Western Union terminates agreement to acquire Intermex

Yesterday I wrote that Anthropic's filed IPO range landed at the skeptics' end of the valuation debate, well short of the $1.5 trillion…

Yesterday I wrote that Anthropic's filed IPO range landed at the skeptics' end of the valuation debate, well short of the $1.5 trillion the bulls wanted. One day later, that read is already under pressure. The FT, citing five people familiar with the matter, reports that Anthropic's bankers are weighing pricing above the $70-78…

The two-year Treasury yield just posted its biggest single-day jump since April 2025.

The two-year Treasury yield just posted its biggest single-day jump since April 2025. The bond market is pricing a Fed that's getting more hawkish, but the Fed isn't speaking with one voice on how fast to go. The trigger was October CPI. Core came in at 0.3% against a 0.2% forecast, the third straight hot core print, with headline…

End-of-day recap

Hotter-than-expected October inflation fueled Fed hike bets and hit tech stocks, while a leadership probe weighed on Nvidia.

A hotter-than-expected October CPI print pushed rates higher and tech lower on Nov 10, 2026, while Nvidia's leadership probe drove the session's heaviest trading. October CPI rose 0.4% month over month after 0.6% in September, cementing bets on a December Fed hike. Fed Governor Christopher Waller floated a larger half-point move if inflation worsens. The S&P 500 fell 0.38% to…

The 40-Year Bond Bull and Its Unwind: 10-Year Back Near 5%

Treasury yields have settled into a higher range, challenging stock valuations after decades of falling rates.

On September 1, 1981, the New York Times ran the headline "Bond Prices Tumble on Rate Fears." That week the 10-year Treasury yield hit 15.84%, the highest in its history, as Paul Volcker's Federal Reserve broke double-digit inflation by breaking the bond market first.