Credit Bubble Bulletin

Presented by Doug Noland since 2012

Credit Bubble Daily
Friday, October 24, 2025
[CNBC] Stocks jump as light inflation report paves way for Fed rate cut: Live updates [CNBC] Inflation rate hit 3.0% in September, lower than expected, long-awaited CPI report shows [AP] Trump says he’s ending trade talks with Canada over TV ads [Yahoo/Bloomberg] Fed’s Portfolio Unwind Gains Urgency as Markets Flash Warnings [Yahoo/Reuters] Trump says all trade talks with Canada are terminated [Yahoo/Bloomberg] China’s Pharma Leverage Is ‘Nuclear Option’ in US Trade Talks [Yahoo/Bloomberg] Trump Administration Moves to Accelerate AI Power Hookups [AP] Social Security recipients get a 2.8% cost-of-living boost in 2026, average of $56 per month [Axios] Behind the Curtain: The ever-growing AI inequality gap [Yahoo/Reuters] Global equity fund inflows surge as US-China trade tensions ease [Yahoo/Bloomberg] Macron Tells EU to Weigh Using Strongest Trade Tool on China [Yahoo/Reuters] Putin defiant after Trump sanctions Russian oil companies over Ukraine [AP] Ukraine’s Zelenskyy seeks more European help against Russia on London trip [Politico] Hungary’s Orbán vows to ‘circumvent’ US sanctions on Russian oil titans [Bloomberg] Trump Seeks Elusive Trade Deal With Xi in High-Stakes Meeting [Bloomberg] Korea, US Still ‘Sharply’ Split Over Cash in $350 Billion Pledge [Bloomberg] Record $38 Billion Debt Sale Nears for Oracle-Tied Data Centers [Bloomberg] AI Data Center Boom Threatens Trump’s Manufacturing Revival [Bloomberg] Jane Street-Led Bank Rivals to Take 30% Trading Share, BCG Says [Bloomberg] Euro-Zone Business Activity Unexpectedly Hits Highest Since 2024 [Bloomberg] German Business Activity Unexpectedly Surges the Most Since 2023 [Bloomberg] Japan’s Inflation Picks Up, Highlighting Challenges for PM [NYT] Companies Have Shielded Buyers From Tariffs. But Not for Long. [WSJ] Trump Says He Is Terminating Trade Negotiations With Canada [WSJ] China’s New Strategy for Trump: Punch Hard, Concede Little [WSJ] Why Trump Reached a Breaking Point With Putin [WSJ] BOJ Policy Should Align With Government Policy, Japan’s Finance Minister Says [WSJ] Has Argentina Really Changed? Soon, We Will Find Out [FT] Tett: America’s risky bid to make Argentina great again [FT] Blackstone-backed theme park giant under pressure after debt sell-off [FT] Steakhouses chop portions and raise prices as cost of beef surges [FT] Overseas renminbi lending surges as China steps up campaign to de-dollarise [FT] Japan’s Sanae Takaichi steps up defence spending ahead of visit by Donald Trump
Thursday, October 23, 2025
[CNBC] Stocks edge lower as investors digest earnings, trade news: Live updates [Yahoo/Bloomberg] Oil Jumps as Trump Steps Up Pressure on Russia With Sanctions [AP] US hits $38 trillion in debt, after the fastest accumulation of $1 trillion outside of the pandemic [AP] EU joins US in heaping more sanctions on Russia to push Putin into Ukraine peace talks [Axios] Trump: "We had to take down the existing" White House East Wing structure [Yahoo/Reuters] Trump administration in talks to take stakes in quantum-computing firms, WSJ reports [Axios] Behind the Curtain: America's energy jam [CNBC] Most potential homebuyers expect mortgage rates to drop. That’s why they’re waiting [AP] What Americans think about the environmental impact of AI, according to a new poll [Yahoo/WSJ] China Gears Up for More Tech Confrontation With U.S. [Yahoo/Reuters] China's new five-year plan sharpens industry, tech focus as US tensions mount [Politico] 11 things to watch at the EU leaders’ summit [Bloomberg] Hedge Fund Assets Hit $5 Trillion With Most Inflows Since Before Financial Crisis [Bloomberg] Why So Many People Signed Up for Social Security This Year [Bloomberg] Russian Oil Supply to India Set to Fall to Near Zero: Sources [Bloomberg] Wall Street Bonuses Poised for Record as Bank Profits Surge [Bloomberg] What Japan’s ‘Iron Lady’ Means for Investors [Bloomberg] What Scott Bessent Doesn't Get About Argentina [Bloomberg] A $41 Billion Debt Binge Turns Mexico Into No. 1 EM Borrower [Bloomberg] SPACs Are Back, and MAGA Is Fueling Their Growth [Bloomberg] Coffee Prices Top Record as Trade and Supply Concerns Mount [Bloomberg] China Military Purge Targets Group Who Undermined Xi’s Authority [NYT] Pentagon Announces ‘Next Generation’ Press Corps [NYT] China’s Consumers Are in a Years-Long Funk. Will Anything Get Them to Spend? [WSJ] The Five Funding Cliffs Approaching as Shutdown Pain Builds [WSJ] Popular Leveraged Funds Shock Investors With Huge Losses [WSJ] Trump Administration in Talks to Take Equity Stakes in Quantum-Computing Firms [WSJ] Trump’s Oil Sanctions Strike at Russia’s Economic Lifeline [WSJ] Islamic State Rises Again in Syria, Filling a Void Left by U.S. [FT] Blackstone says era of bumper private-credit returns has ended [FT] China’s leadership vows to step up push for ‘self-reliance’ in tech [FT] Milei’s make-or-break moment
Wednesday, October 22, 2025
[CNBC] Stocks are little changed after record session for Dow; Netflix slides on earnings miss: Live updates [Reuters] Gold prices slide as dollar firms, investors book profits [Reuters] Oil rises about 2% on trade talk optimism [Reuters] US banks' surge in loans to private creditors may pose risks, Moody's says [Yahoo/Bloomberg] Waller, a Top Fed Chair Contender, Backs Rate Cuts Without Bowing to Trump [Reuters] South Korean negotiators visit US to resolve sticking points in trade talks [AP] Money-losing companies with colorful histories have pivoted to crypto [Axios] OpenAI's metamorphosis from chat app to tech giant [AP] Japan’s exports and imports grow in September despite Trump’s tariffs [AP] A major Russian drone and missile attack on Ukraine kills at least 6 people, officials say [Axios] Putin's war is "not just about Ukraine," says Estonian ambassador [Reuters] Russia holds nuclear drills after delay to Putin-Trump summit [Bloomberg] Subprime Lender PrimaLend Enters Bankruptcy After Bond Default [Bloomberg] US Government Shutdown Is Now Second Longest in History [Bloomberg] Dudley: The Fed Might Be More Dovish Than Powell Thinks [Bloomberg] Apollo Says AI Energy Gap ‘Will Not Be Closed in Our Lifetime’ [Bloomberg] Japan’s Takaichi Orders Economic Package to Tackle Inflation [Bloomberg] EU Prepares Trade Options to Counter China Rare Earth Curbs [NYT] Workers and Employers Face Higher Health Insurance Costs [NYT] World Falling Short on Methane Pledge, U.N. Report Finds [WSJ] The Average Cost of a Family Health Insurance Plan Is Now $27,000 [WSJ] The U.S. Is Trying to Drive a Wedge Between Argentina and China [WSJ] Is the Flurry of Circular AI Deals a Win-Win—or Sign of a Bubble? [FT] The grossly underestimated hedge fund bid for Treasuries [FT] Bubble-talk is breaking out everywhere [FT] Why has US jobs growth been so anaemic? [FT] The fallout from the AI-fuelled dash for gas
Tuesday, October 21, 2025
[CNBC] Stock little changed after major U.S. indexes rally to start the week: Live updates [AP] Trump vows to reach a ‘fantastic deal’ with China after future meeting with Xi [AP] Trump is going to Asia — what happens next is anyone’s guess [Axios] AWS outage spotlights the global economy's fragile foundations [AP] Most Americans are concerned about higher health care costs next year, an AP-NORC poll finds [Yahoo/Reuters] US banks hunting for collateral to back $20 billion Argentina bailout, WSJ reports [Yahoo/WSJ] Data-Center Power Use to Become Major Antitrust Issue [Reuters] Fall in China's exports of rare earth magnets stokes supply chain fears [Reuters] Concerned carmakers race to beat China's rare earths deadline [Yahoo/Reuters] Trump administration weighing Fannie, Freddie offering as soon as end-2025, FHFA director says [AP] US and Australia sign critical-minerals agreement as a way to counter China [Yahoo/Reuters] Japan's next finance minister could unsettle yen bears [Reuters] Europeans say Ukraine battle lines must be start point for talks, as Trump-Putin summit plans hit snags [Politico] Ukraine’s allies rush to bolster Zelenskyy amid fears over Trump-Putin deal [Bloomberg] Why Rare Earths Are China’s Trump Card in Trade War [Bloomberg] BlackRock Says Insurers Expect to Keep Ramping Up Private Bets [Bloomberg] AI Boom Transforms Utilities From Haven to Soaring Growth Stocks [Bloomberg] UK Borrowing Overshoots by £7.2 Billion Before Key Budget [Bloomberg] What Takaichi’s Historic Win as Prime Minister Means for Japan [Bloomberg] Japan Shifts to the Right Under ‘Iron Lady’ Admirer Takaichi [NYT] Shutdown With No Clear End Poses New Economic Threat [NYT] Lower-Income Americans Are Missing Car Payments [NYT] China Has Another Lever to Pull in Showdown With Trump: Factory Lines [WSJ] Russia and Ukraine Are No Closer to Cease-Fire After Trump’s Pressure on Zelensky [FT] BoE governor warns ‘alarm bells’ ringing over private credit market [FT] Ukraine and allies call for peace deal based on current front lines [FT] Trump-Putin summit in Budapest unsettles Europe [FT] Silver’s history points to why it is back in record territory [FT] Brazil’s corporate bond market rocked by credit concerns [FT] Putin’s mesmeric sway on Trump
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Thursday, January 19, 2023 – 4:00pm Eastern / 2:00pm Mountain

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