🛢️ A barrel of oil walked into next week’s Fed meeting and apparently brought voting rights.
Brent is back near $94 to $95. The 10 year Treasury has reached 4.63%, the 30 year stands at 5.13%, and markets are assigning a material probability to another rate increase. June’s inflation relief depended heavily on falling energy prices, which means the oil rebound is attacking the strongest part of the disinflation argument.
⚡ Meanwhile, AI has stopped speaking in abstractions. AMD will invest up to $5B in Anthropic, while Anthropic plans to deploy up to 2 gigawatts of AMD compute infrastructure. That is approximately 17.5 terawatt hours of annual electricity at continuous utilization…
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