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The Marked Chart Wire · Markets
HotMarkets
Jim Cramer cautioned that the recent AI stock surge does not eliminate financing concerns for leveraged infrastructure firms. He noted that Anthropic's $63 billion deal relies on borrowed funds to buy Broadcom hardware, while CoreWeave bonds yield up to 15 percent.
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HotAI Spending
The Nasdaq 100 rose 1.2 percent while chipmakers gained 3.3 percent ahead of the Fed's rate decision. Meta's $25 billion equity raise is said to have drawn five times the expected investor interest.
HotCoreWeave
Credit default swap spreads for CoreWeave five-year debt narrowed to their lowest point in more than seven days, last trading at 1041.4 basis points.
Market Imbalance
Market data shows a net short imbalance of $1.05 billion for the S&P 500, $2.06 billion for the Nasdaq 100, and $136.7 million for the Dow Jones Industrial Average.
Margin Debt
Bank of America analysts noted that margin debt growth slowed to 31.4 percent in September from 53.7 percent in May. They warned that this weakening momentum, alongside high-yield spread widening, could indicate a stock market top.
Treasury Auction
The US Treasury auctioned $70 billion in 5-year notes, which were awarded at a high yield of 4.845 percent. The bid-to-cover ratio came in at 2.33, up from the previous auction's 2.21.
Private Equity Debt
PitchBook data shows $300 billion in firm debt comes due in 2028 and 2029. BofA expects speculative-grade loan defaults to reach 4 percent next year.
Fast headlines, summarized. Not verified and not advice. Check the full story before you act.