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Behind the AI Debt Boom

JPMorgan's David De Boltz explains why Wall Street is pouring unprecedented money into AI infrastructure, data centers, and GPU financing, while abandoning parts of the software market. On Bloomberg Open Interest, he breaks down the $5 trillion AI buildout, why investors are still buying despite rising rates, and the hidden refinancing risks emerging in tech credit.

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Bloomberg

Inflation Angst Drives US Long-Dated Bond to 2007 High

Yields on the US Treasury's longest-dated bond rose to the highest level in almost two decades as investor concern over accelerating inflation fueled a selloff in global debt markets. The move represents a new high-water mark after a recent bond selloff pushed government yields around the globe to multiyear highs. Joe LaVorgna, Chief Economist at SMBC Nikko Securities, discusses the impact of higher inflation on rates, the US consumer, and President Trump's economic agenda.

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Bloomberg

Meta's AI Worker Shift; Home Depot Sales Fall Short | Stock Movers

On this episode of Stock Movers with Alexis Christoforous: - Shares of CoreWeave (CRWV) and other neo-cloud companies slump premarket after Alphabet agreed to create an artificial intelligence cloud business with Blackstone. Google agreed to create an AI cloud business with Blackstone. - Meta (META) shares are moving as it's reassigning workers to new jobs related to artificial intelligence as part of a broad corporate restructuring. The new corporate structure will be "flatter" and mean "smaller teams", according to Chief People Officer Janelle Gale. - Home Depot (HD) shares are moving in the premarket after sales at Home Depot locations open at least a year rose 0.6% during the three months ended May 3, slightly below the average of analysts' estimates. Home Depot's business has been hit by elevated interest rates and high housing prices, which have sparked a pullback in home purchases and upgrade projects.

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Bloomberg

ECB May Act As Iran Shock Persists

The European Central Bank may have to respond to the economic challenges arising from the conflict in the Middle East, according to Governing Council members Joachim Nagel and Francois Villeroy de Galhau, who spoke jointly to BTV's Oliver Crook on the sidelines of the G7 Finance Ministers meeting in Paris on Tuesday.

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Technology

Epic Games returns Fortnite to global Apple App Store amid impending Supreme Court battle

Epic Games announced the global reinstatement of its flagship video game Fortnite to Apple’s 9NASDAQ:AAPL) App Store across international markets, utilizing the strategic commercial expansion to further challenge the iPhone maker's ecosystem transaction fees before the U.S. Supreme Court.

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