zerohedge @zerohedge
Top Overnight News
Trump posted that he signed the bill approving the release of the Epstein files: Truth Social.
Trump is set to meet New York City Mayor Mamdani on Friday at the Oval Office: Truth Social.
Trump is reportedly considering an executive order to pre-empt state AI laws: Reuters
Trump plans to roll out a “Genesis Mission” to boost US AI development, giving it the same importance as the Manhattan Project or the space race. BBG
President Trump has repeatedly floated the idea of $2,000 payments to low- and middle-income households, funded by revenue from his tariffs. GOP lawmakers are lukewarm at best about approving any $2,000 checks, calling into question whether Trump can secure the congressional approval needed to get the cash to Americans as he has promised. WSJ
The US approved the export of tens of thousands of advanced AI chips to Saudi Arabia’s Humain and the UAE’s G42. BBG
Canada and the US still have a chance to reach an agreement to reduce tariffs despite last month’s diplomatic blowup, Trump’s envoy in Ottawa said. BBG
China is considering new measures to support its struggling property market, including providing mortgage subsidies for new homebuyers and raising income tax rebates for mortgage borrowers. The plan aims to stabilize the housing market, which has seen a slump in sales and prices, and to prevent a further weakening of the sector from threatening the country's financial system. BBG
Japan's government is in the final stages of assembling a stimulus package worth 21.3 trillion yen ($135.38 billion) to help households cope with persistent inflation, a draft seen by Reuters showed, in what would be the largest stimulus since the COVID pandemic. RTRS
BOJ board member Junko Koeda signaled a rate hike is possible as soon as December. Separately, Japan’s chief cabinet secretary warned that the yen is experiencing sudden and one-sided moves. BBG
The U.S. has signaled to President Volodymyr Zelenskiy that Ukraine must accept a U.S.-drafted framework to end the war with Russia that proposes Kyiv giving up territory and some weapons, two people familiar with the matter said on Wednesday. RTRS
Cash flows and balance sheet capacity are unlikely to constrain large public AI hyperscaler capex spending in 2026, according to Goldman. The hyperscalers spent $107 billion in capex in 3Q 2025, including AI and non-AI expenditures, representing a year/year growth rate of 76%. Analysts expect this growth rate will slow sharply to 53% in 4Q 2025 and further to 25% by the end of 2026. However, analysts have been consistently too conservative with their estimates during the past two years. The magnitude of spending in historical technology investment cycles suggests upside to spending estimates today. The recently demonstrated willingness of the large public hyperscalers to employ the strength of their balance sheets in funding capex also indicates upside to consensus estimates: GS
UBS executive says US inflation is quite sticky, upcoming quarters is probably going to be a little bit challenging from a macro standpoint.
BofA Total Card Spending (w/e 15th Nov) +1.5% (prev. +4.2%, Oct avg. +2.4%); notes that "as we approach the holiday seasons, spending per household on holiday items is tracking significantly ahead of 2023 and 2024 levels".
https://x.com/zerohedge/status/1991496606709948619