[SATIRE] The FT's editorial standards are evidently slipping...

Watch what happens when the Fed loses control of its own yield curve. Every Fed rate cut since December is being challenged by the long end of the Treasury market.

The largest construction boom in a generation is underway, but it's not where you'd expect. While traditional manufacturing struggles, investment is pouring into semiconductor plants ($113B) and data centres ($40B) - the infrastructure of the digital economy.

Rome was first to a million. Beijing and Baghdad reached it at moments in history. But it wasn't until the Industrial Revolution that the million-plus cities spread across the globe.

The maths is unforgiving. France owes 116% of what it produces in a year. Take a look at the data visualisation below.

We gave humanity the most powerful AI ever built and 800 million people use it to fix bad emails 😂 . Music: Die Is Cast by First Timer, Epidemic Sounds

For twenty years, the line barely moved. Then 2016 happened. Tariffs. Trade wars. The old order cracked. The Trade Policy Uncertainty index rose. Fast-forward to 2025, and the index has gone vertical. What do you think? Music: Charm by Ryan James Carr, Epidemic Sounds

Look at this chart from the IMF. It doesn’t track GDP or inflation. It tracks how often the word uncertainty appears in global trade news. For 20 years, nothing happened. Then 2016. Trade wars. The old order cracked. Fast-forward to 2025, and the index has gone vertical.

This is Maverick. He died twenty years ago after he was hit by a car. I brought him back to life with Sora 2. I only have three photos of him, which I saved from a housefire in 2010. He was a friend during my teenage years and help me get through my exams and ADHD.

Gold has done something extraordinary this week. For the first time in history, an ounce of the yellow metal crossed $4,000, a psychological barrier that seemed untouchable just months ago. What are your thoughts? Music: Die Is Cast by First Timer, Epidemic Sounds

Microsoft crossed $4trn in market cap. But Nvidia is already at $4.7trn. These are different stories. Nvidia's trajectory is vertical after 2022 due to its chips that power AI. Microsoft's path is steadier, providing the infrastructure for AI. Made with PlotSet.com

Nvidia hit $5 trillion in market value today. It announced a $1 billion investment in Nokia to help build AI powered telecommunications infrastructure. Made with PlotSet.com

Nvidia has hit $5 trillion in market value. It's the first company in history to do that. It announced a $1 billion investment in Nokia to help build AI powered telecommunications infrastructure. The partnership aims to digitalize the global network backbone, embedding AI into 5G

That what the first chart is about in my daily newsletter: killercharts.blog

Daily repo transactions have surged over $3 trillion. This sudden growth tells a story of how cash is moving through the financial system. If the repo market keeps expanding at this pace, how long before the Fed is forced to quietly reopen the money taps? Plotset.com

China has surpassed the United States in monthly downloads of artificial intelligence models, marking a major turning point in the global AI race. Have a look at the chart. It did this in less than two years.

I published this today, but I wonder how the SNB's portfolio is doing. $1.5 trillion in US tech has evaporated in 48 hours: open.substack.com/pub/killerchar…

This looks like another tech rout, but this chart tells a more interesting story. Returns over the past month are not moving in one direction, they are spreading out.

Switzerland once had more than 450 banks. Today fewer than 230 remain. Now UBS is threatening to move to the US. What’s next for Switzerland’s banking system? The centre of gravity has shifted. open.substack.com/pub/killerchar…

Saying the tech boom is starting to look suspicious is probably the biggest understatement I’ve made in 2025. killercharts.blog/p/the-tech-boo…