🔥 AI got paid. Duration got mugged.
Microsoft proved that massive infrastructure spending can translate into cloud revenue, enterprise adoption, and profit. The market responded with the company’s strongest trading day since 2008, while the thirty-year Treasury reminded every infrastructure and real-estate investor that cash flow arriving ten years from now has become significantly more expensive to own.
📈 South Korea’s Kospi surged more than 16% at one point Friday, with Samsung and SK Hynix leading a violent reversal in the global AI trade. This was not a declaration that every AI investment works. It was the market repricing…
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