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Private Markets Digest connects the dots that matter across private equity, venture capital, private credit, and banking.

The Week Two Hyperscalers Booked Paper Profits and the Bond Market Stopped Believing the Fed

Aug 1, 2026

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7 min read

The Week Two Hyperscalers Booked Paper Profits and the Bond Market Stopped Believing the Fed

The Fed held rates but three officials voted to hike. The 30 year Treasury jumped to a 19 year high anyway. Alphabet and Amazon built much of their earnings beat on unrealized gains from private AI stakes. Credit markets started pricing real default risk across the AI buildout.

Dio Pouerie, +1

Kashkari Named a Series | Exxon/Chevron Refining Record | Yen Intervention

Jul 31, 2026

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6 min read

Kashkari Named a Series | Exxon/Chevron Refining Record | Yen Intervention

Three Fed dissenters explained their votes Friday. Kashkari named a series of hikes, not one. Exxon and Chevron posted record refining profits. Japan and South Korea jointly intervened to prop up their currencies.

Dio Pouerie, +1

Amazon Just Hiked 2026 Capex to $220 Billion. AWS Grew 37%. Anthropic Is the Backlog.

Jul 31, 2026

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5 min read

Amazon Just Hiked 2026 Capex to $220 Billion. AWS Grew 37%. Anthropic Is the Backlog.

Amazon raised its 2026 capex forecast $20 billion in a single quarter and AWS grew at its fastest pace since 2021. Apple missed on guidance and warned of chip supply constraints. China's factory PMI contracted for the first time since February.

Dio Pouerie, +1

Situational Awareness Blew Up | GDP Was Half AI | PCE Fell

Jul 30, 2026

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5 min read

Situational Awareness Blew Up | GDP Was Half AI | PCE Fell

The $45 billion fund that named the AI thesis force-sold its entire public book. Q2 GDP grew 1.5% and more than half was AI capex. PCE fell for the first time since the pandemic. Meta's Reality Labs lost $4.6 billion.

Dio Pouerie, +1

Warsh Held Rates and the Bond Market Called His Bluff. The 30-Year Hit a 19-Year High.

Jul 30, 2026

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5 min read

Warsh Held Rates and the Bond Market Called His Bluff. The 30-Year Hit a 19-Year High.

The 30-year yield hit a 19-year high hours after the Fed's fifth straight hold. Microsoft rallied almost 9% after hours while Meta fell as much as 10%. Retail investors dumped single stocks at the fastest pace since the COVID crash.

Dio Pouerie, +1

AI Debt Prices the Risk | Fed Holds, Three Dissent | P&G's Oil Bill

Jul 29, 2026

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5 min read

AI Debt Prices the Risk | Fed Holds, Three Dissent | P&G's Oil Bill

The CDS market is pricing the AI buildout in real time. CoreWeave implies 50% default odds. The Fed held but three officials voted to hike. P&G said $90 oil is a $1 billion headwind.

Dio Pouerie, +1

The Daily Briefing That Unlocks Private Markets.

The Week Two Hyperscalers Booked Paper Profits and the Bond Market Stopped Believing the Fed

Kashkari Named a Series | Exxon/Chevron Refining Record | Yen Intervention

Amazon Just Hiked 2026 Capex to $220 Billion. AWS Grew 37%. Anthropic Is the Backlog.

Situational Awareness Blew Up | GDP Was Half AI | PCE Fell

Warsh Held Rates and the Bond Market Called His Bluff. The 30-Year Hit a 19-Year High.

AI Debt Prices the Risk | Fed Holds, Three Dissent | P&G's Oil Bill

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