Daily Alpha · YouTube
· Midday Alpha · by Buzzberg Research
Who was talking 32 videos · 13 channels
Forward Guidance reads the bond rally as a growth and AI-financing scare, not inflation
The hosts read the bond rally alongside hot inflation prints as markets worrying more about a growth and AI-financing slowdown than inflation. They argue Fed speakers effectively removed an October hike and favor AI debt over AI equity in a backstop scenario.
Steve Eisman says OpenAI and Anthropic concentration is the AI trade's key vulnerability
Steve Eisman argues the key vulnerability is extreme customer concentration around OpenAI and Anthropic rather than a 2008-style banking crisis, and that open-weight models and an AI price war could pressure revenue growth.
Neil Campling says consensus expects over $30 billion of CoreWeave cash burn next year
Neil Campling says CoreWeave's credit default swap costs rose exponentially and raising capital is becoming increasingly expensive, with consensus expecting over $30 billion of free cash flow burn next year, above revenues.
Taiwan is reportedly preparing tighter AI-chip export controls on China
Markets read Fed Chair Kevin Warsh's IMF appearance as making an October hike unlikely, and Taiwan is reportedly preparing tighter export controls aimed at keeping advanced AI chips out of China.
Odd Lots: French sovereign risk repriced on politics more than fiscal fundamentals
A former Macron advisor argues markets have cut the odds of a centrist candidate reaching the 2027 runoff, raising the risk of a parliament unable to agree on fiscal consolidation. The ECB could stabilize spreads only against a credible medium-term fiscal adjustment.