Lisa Abramowicz
@lisaabramowiczx.bsky.social
Co-host of@bsurveillance
bloomberg.com/btv/series/blo…
bloomberg.com/btv/series/blo…
The cost of protecting Oracle’s debt against default reached its highest since March 2009 yesterday, with the cost more than tripling since June. bloomberg.com/news/articles/…
December 3, 2025 at 7:29 PM
The cost of protecting Oracle’s debt against default reached its highest since March 2009 yesterday, with the cost more than tripling since June. bloomberg.com/news/articles/…
AI systems will be capable of doing “most white-collar work” in two to three years: Anthropic’s chief scientist
www.theguardian.com/technology/n...
www.theguardian.com/technology/n...
‘The biggest decision yet’: Jared Kaplan on allowing AI to train itself
Anthropic’s chief scientist says AI autonomy could spark a beneficial ‘intelligence explosion’ – or be the moment humans lose control
www.theguardian.com
December 3, 2025 at 7:26 PM
AI systems will be capable of doing “most white-collar work” in two to three years: Anthropic’s chief scientist
www.theguardian.com/technology/n...
www.theguardian.com/technology/n...
The Magnificent 7 cohort of stocks has gained almost 300% since the launch of ChatGPT three years ago: Deutsche Bank
December 2, 2025 at 12:40 AM
The Magnificent 7 cohort of stocks has gained almost 300% since the launch of ChatGPT three years ago: Deutsche Bank
On ChatGPT’s third birthday, some are reflecting on the expanding debt tied to its parent company. OpenAI’s data center partners are on course to amass almost $100bn in borrowing tied to the start-up, which is still losing money.
www.ft.com/content/5605...
www.ft.com/content/5605...
OpenAI partners amass $100bn debt pile to fund its ambitions
Cloud companies and developers rely on lossmaking start-up to repay huge loans
www.ft.com
December 1, 2025 at 8:13 AM
On ChatGPT’s third birthday, some are reflecting on the expanding debt tied to its parent company. OpenAI’s data center partners are on course to amass almost $100bn in borrowing tied to the start-up, which is still losing money.
www.ft.com/content/5605...
www.ft.com/content/5605...
More US families are renting homes because it’s much cheaper. Pretium estimates that to restore cost parity between owning and renting, mortgage rates would need to drop by about 2.5 percentage points from current levels, from 6.2% to 3.7%, holding other variables constant.
November 28, 2025 at 9:30 AM
More US families are renting homes because it’s much cheaper. Pretium estimates that to restore cost parity between owning and renting, mortgage rates would need to drop by about 2.5 percentage points from current levels, from 6.2% to 3.7%, holding other variables constant.
The Atlanta Fed estimates that the median home price has risen by more than a third since 2021 to almost $400,000. For that to be considered affordable, a household would need to earn more than $120,000. The median household income in the US is $85,000.
www.ft.com/content/cfa6...
www.ft.com/content/cfa6...
‘Scraping for crumbs’: Americans squeezed by affordability crisis
Rising food, shelter and healthcare costs are hitting hard in Bethlehem and the surrounding Lehigh valley
www.ft.com
November 25, 2025 at 5:23 PM
The Atlanta Fed estimates that the median home price has risen by more than a third since 2021 to almost $400,000. For that to be considered affordable, a household would need to earn more than $120,000. The median household income in the US is $85,000.
www.ft.com/content/cfa6...
www.ft.com/content/cfa6...
There's been about $220 billion in investment-grade corporate bond supply over the prior four weeks, about 70% higher than typical during this period: BofA strategists. "The entire increase in supply vs. typical is explained by M&A issuance ($37bn) & hyperscaler activity ($63bn)"
November 22, 2025 at 2:25 AM
There's been about $220 billion in investment-grade corporate bond supply over the prior four weeks, about 70% higher than typical during this period: BofA strategists. "The entire increase in supply vs. typical is explained by M&A issuance ($37bn) & hyperscaler activity ($63bn)"
Continuing US jobless claims rose to the highest since 2021 in today's claims report, implying that people who don't have jobs are having a harder time finding new ones.
November 21, 2025 at 1:49 AM
Continuing US jobless claims rose to the highest since 2021 in today's claims report, implying that people who don't have jobs are having a harder time finding new ones.
Chinese financial institutions have lent more than $200 billion to the US over the past 25 years, backing 2,500 projects in almost every state, including gas pipelines and airport terminals. More than half the lending, $103 billion, was made since 2018.
www.washingtonpost.com/world/2025/1...
www.washingtonpost.com/world/2025/1...
November 20, 2025 at 3:22 AM
Chinese financial institutions have lent more than $200 billion to the US over the past 25 years, backing 2,500 projects in almost every state, including gas pipelines and airport terminals. More than half the lending, $103 billion, was made since 2018.
www.washingtonpost.com/world/2025/1...
www.washingtonpost.com/world/2025/1...
Investors are holding one of the lowest proportions of cash in modern history: November BofA global fund manager survey. "Cash levels of 3.7% or lower has occurred 20 times since 2002, & on every occasion stocks fell and Treasuries outperformed in the following 1-3 months:" BofA
November 19, 2025 at 3:41 AM
Investors are holding one of the lowest proportions of cash in modern history: November BofA global fund manager survey. "Cash levels of 3.7% or lower has occurred 20 times since 2002, & on every occasion stocks fell and Treasuries outperformed in the following 1-3 months:" BofA
A stock market correction would cause a huge hit to consumption “given the concentration of spending power among top income households:” RBC’s Mike Reid. “The top 20% of households hold approximately 87% of all directly and indirectly held corporate equities.”
November 19, 2025 at 12:03 AM
A stock market correction would cause a huge hit to consumption “given the concentration of spending power among top income households:” RBC’s Mike Reid. “The top 20% of households hold approximately 87% of all directly and indirectly held corporate equities.”
Despite AI-bubble fears, Wall Street strategists are bullish heading into 2026. Morgan Stanley's Mike Wilson has a 12-month S&P target of 7,800, while strategists over at JPMorgan Private Bank have a base case of 7,200 to 7,400 and a bull case of 8,200 by yearend 2026.
November 17, 2025 at 10:53 PM
Despite AI-bubble fears, Wall Street strategists are bullish heading into 2026. Morgan Stanley's Mike Wilson has a 12-month S&P target of 7,800, while strategists over at JPMorgan Private Bank have a base case of 7,200 to 7,400 and a bull case of 8,200 by yearend 2026.
This is why people have grown increasingly worried about the financing behind AI over the past few months: bond issuance has surged since September, and global financing of data centers is expected to balloon to almost $3 trillion just through 2028. wsj.com/finance/invest…
November 17, 2025 at 10:36 PM
This is why people have grown increasingly worried about the financing behind AI over the past few months: bond issuance has surged since September, and global financing of data centers is expected to balloon to almost $3 trillion just through 2028. wsj.com/finance/invest…
Applied Digital struggled to sell junk bonds yesterday, offering 10% yields to attract buyers. Applied Digital provides data center services to CoreWeave, which provides data center services to Nvidia & OpenAI.
www.bloomberg.com/news/article...
www.bloomberg.com/news/article...
CoreWeave-Tied Data Center Debt Tests Strength of Flooded Market
Applied Digital Corp. sold $2.35 billion of junk bonds at one of the steepest discounts of the year as the deal struggled to generate investor demand.
www.bloomberg.com
November 16, 2025 at 4:46 AM
Applied Digital struggled to sell junk bonds yesterday, offering 10% yields to attract buyers. Applied Digital provides data center services to CoreWeave, which provides data center services to Nvidia & OpenAI.
www.bloomberg.com/news/article...
www.bloomberg.com/news/article...
Annual US corporate bankruptcy filings are on track to be the highest since 2010: S&P data. "Expect more of these 'isolated incidents' to occur, potentially in other sectors like software." spglobal.com/market-intelli…
November 14, 2025 at 12:47 AM
Annual US corporate bankruptcy filings are on track to be the highest since 2010: S&P data. "Expect more of these 'isolated incidents' to occur, potentially in other sectors like software." spglobal.com/market-intelli…
Tech bonds are getting hit hard of late as debt traders start wondering if they're getting left with the bill for the stock market's enthusiasm. Oracle's $3.5 billion of 30-year debt issued in September has cratered by 8% from the October peak.
November 14, 2025 at 12:42 AM
Tech bonds are getting hit hard of late as debt traders start wondering if they're getting left with the bill for the stock market's enthusiasm. Oracle's $3.5 billion of 30-year debt issued in September has cratered by 8% from the October peak.
"We must ask ourselves, are we in the 1970s or the 1990s? We can’t ignore the 1970s or the post-pandemic inflation run-up, but we can’t ignore the rest of history either:" San Francisco Fed President Mary Daly
www.frbsf.org/research-and...
www.frbsf.org/research-and...
Policymaking Amid Change - San Francisco Fed
Getting monetary policy right requires looking at near- and medium-term economic impacts of cyclical and secular forces, writes SF Fed Pres. Mary C. Daly.
www.frbsf.org
November 13, 2025 at 12:01 AM
"We must ask ourselves, are we in the 1970s or the 1990s? We can’t ignore the 1970s or the post-pandemic inflation run-up, but we can’t ignore the rest of history either:" San Francisco Fed President Mary Daly
www.frbsf.org/research-and...
www.frbsf.org/research-and...
The median age of a US home buyer now sits at a record high of 61 years, while the share of first-time buyers has fallen to a record low 21%: National Association of Realtors data via SMCB's Troy Ludtka
November 12, 2025 at 6:06 AM
The median age of a US home buyer now sits at a record high of 61 years, while the share of first-time buyers has fallen to a record low 21%: National Association of Realtors data via SMCB's Troy Ludtka
"Today, wage growth for low-income workers is significantly lower than wage growth for middle- and high-income workers:" Apollo's Slok apolloacademy.com/the-k-shaped-e…
November 10, 2025 at 5:32 PM
"Today, wage growth for low-income workers is significantly lower than wage growth for middle- and high-income workers:" Apollo's Slok apolloacademy.com/the-k-shaped-e…
US companies announced the most job cuts for any October in more than two decades. "This comes as AI adoption, softening consumer and corporate spending, and rising costs drive belt-tightening and hiring freezes:” Challenger, Gray & Christmas bloomberg.com/news/articles/…
November 7, 2025 at 12:53 AM
US companies announced the most job cuts for any October in more than two decades. "This comes as AI adoption, softening consumer and corporate spending, and rising costs drive belt-tightening and hiring freezes:” Challenger, Gray & Christmas bloomberg.com/news/articles/…
UPS just disclosed that the company has eliminated 34,000 jobs this year, above the 20,000 cuts it previous said it was targeting. Amazon said it's cutting about 14,000 jobs. GM has laid off more than 200 employees. Target plans to cut about 1,000 jobs. Anecdotes or a trend?
November 3, 2025 at 10:54 PM
UPS just disclosed that the company has eliminated 34,000 jobs this year, above the 20,000 cuts it previous said it was targeting. Amazon said it's cutting about 14,000 jobs. GM has laid off more than 200 employees. Target plans to cut about 1,000 jobs. Anecdotes or a trend?
Currently, the market cap share of the S&P's top 10 biggest names is more than 44% while these companies' net income share is 34%. Market cap share has outpaced net income share since 2021, but the gap between them is almost back to its Tech bubble highs: RBC's Lori Calvasina
November 3, 2025 at 10:19 PM
Currently, the market cap share of the S&P's top 10 biggest names is more than 44% while these companies' net income share is 34%. Market cap share has outpaced net income share since 2021, but the gap between them is almost back to its Tech bubble highs: RBC's Lori Calvasina
The Mag 7 stocks have accounted for almost half of the S&P's 15% gain this year. Microsoft, Alphabet, Amazon and Meta are expected to post a combined $360 billion in cap ex in their current fiscal years, and nearly $420 billion next year: Bloomberg data. bloomberg.com/news/articles/…
October 27, 2025 at 4:34 PM
The Mag 7 stocks have accounted for almost half of the S&P's 15% gain this year. Microsoft, Alphabet, Amazon and Meta are expected to post a combined $360 billion in cap ex in their current fiscal years, and nearly $420 billion next year: Bloomberg data. bloomberg.com/news/articles/…
This press conference is surprisingly hawkish relative to expectations. Fed Chair Jerome Powell: "There wasn't widespread support at all for a 50bp rate cut...You could look at this as a risk management rate cut."
September 20, 2025 at 3:32 AM
This press conference is surprisingly hawkish relative to expectations. Fed Chair Jerome Powell: "There wasn't widespread support at all for a 50bp rate cut...You could look at this as a risk management rate cut."
The Bloomberg Dollar spot index just hit a new post-2022 low. The dollar keeps weakening on the heels of an FOMC statement that prioritized economic growth over inflation.
September 20, 2025 at 3:31 AM
The Bloomberg Dollar spot index just hit a new post-2022 low. The dollar keeps weakening on the heels of an FOMC statement that prioritized economic growth over inflation.