US stocks rose on Friday as traders braced for Q3 earnings season amid pressure from rising yields

Euro Stoxx banks index is down 10% from peaks as yields bite 

Dollar gained 3% in a four-week advance for its longest winning streak since early 2025

What we're watching this week:  

Full calendar here

The 10Y yield is up a whole 1% point since January yet recession odds seem to be steady

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'Social Reckoning' film tanks on opening weekend (BBG)

US 10Y yields risk hitting 6% for first time since 2000 (FT)

AI-powered bull market nears four-year anniversary (RT)

AI-related firms are likely to to drive most Q3 earnings gains (RT)

Tech earnings loom large for hedge funds packed into dispersion trade (BBG)

Bond selloff may mean fewer rate hikes (BBG)

Big investors 'bottom fish' in Eurozone bond markets after France selloff (FT)

EM assets are better armed for renewed European debt turmoil (BBG)

Institutional investors challenge PE fund model with direct deals (FT)

Firmus misfire casts shadow on data center IPOs (BBG)

AI borrowing slows as investors grow wary of debt binge (FT)

Once-hot AI trade leaves Korean stocks struggling for buyers (BBG)

Banks head for $5B gold trading windfall in record year (BBG)

JPMorgan bets on European asset management growth (FT)

Waldron's rise stirs talk inside Goldman of knock-on succession plans (RT)

KKR banned non-competes for lower-paid US PortCo staff (BBG)

Telecom stocks wiped $60B in market cap after SpaceX's spectrum deal (FT)

OpenAI expects ARR to hit $70B by year-end (BBG)

Apple will debut a touch-screen MacBook this month (BBG)

Netflix will cut 5% of jobs (RT)

Changing consumer habits are a top driver of large bankruptcies (WSJ)

Trump renewed his bid to fire Fed's Lisa Cook (RT)

US agreed deal for Russia to release diesel on to global market (FT)

US threatened to block arms for Ukraine over Russian refinery attacks (FT)

Nvidia is in talks to potentially acqui-hire open-weight AI model startup Reflection AI; the firm was recently valued at $25B

Italian insurer Unipol got ECB approval to exceed 20% ⁠of $32B-listed Italian lender BPER Banca to take ​de facto control as it seeks to hold over 30% of a future ‌banking ⁠group combining BPER Banca and assets carved out of larger peer ​BMPS

Semiconductor firm Cirrus Logic made an unsolicited offer for Synaptics last month, which led On Semiconductor to improve its offer for a $5.7B all-cash deal

GTCR and Elliott are in advanced talks to acquire $4B-listed car insurance software provider CCC Intelligent Solutions 

India's Tata Motors raised its cash offer for $4B-listed Italian truck maker Iveco to a 7% premium

One Equity Partners will acquire the Nexora technology unit of energy distributor DCC Energy at a $735M valuation ahead of its LBO by KKR

Colombian billionaire developer Jaime Gilinski obtained rights to Venezuela's Bare field and flipped it for majority control in GeoPark for an initial $515M stake

Portugal's Galp Energia is weighing a sale of its residential clients portfolio

Family office The Friedkin Group is considering selling a controlling interest in UK soccer club Everton FC less than two years after acquiring it

Turkey Wealth Fund will take over state-run lenders Ziraat Bankasi and Halkbank 

Nvidia-backed Aussie data center firm Firmus is exploring raising $2B-$3B in a private funding round after its IPO collapsed

Enterprise banking fintech Ramp raised a $1.85B round at a $60B pre-money valuation led by Dragoneer and Thrive Capital

Vivek Ramaswamy's nuclear startup Atlas Atomics raised a $400M Series A at a $1.9B valuation led by General Catalyst

Sequoia-backed pre-product microchip startup Nuvacore is raising hundreds of millions of dollars at a $2.5B 

Oxide Computer Company, an on-premises cloud computing company, raised a $445M Series D led by Eclipse

Voltus, a distributed energy resource (DER) technology platform and virtual power plant operator, raised a $225M Series D led by Generation Investment Management, Activate Capital, and Vitol

Scanntech, a retail technology company that monitors real-time supermarket sales, raised a $180M round led by L Catterton

Sabi, a brain-AI interface startup, raised a $50M seed round led by Khosla Ventures

Kapta Space, a developer of next-generation space-borne radar payloads, raised a $24M Series A led by Washington Harbour Partners and Bison Ventures

Torch Systems, an outdoor asset intelligence company, raised an $11.5M round from Khosla Ventures, Abstract, and others

Jio Platforms, the telecoms unit of Indian conglomerate Reliance Industries, is set to price its record India IPO to raise $3.1B at a $107B valuation

KKR-owned Dutch bottler Refresco is exploring a US or Europe IPO at a targeted $10B valuation

Indian manufacturing platform Zetwerk is set to launch its India IPO to raise $525M at a $2.8B valuation

Airtel Money, the mobile money business of Airtel Africa (the telecoms unit of Indian conglomerate Bharti Enterprises), slid 6% in its trading debut after raising $700M for a $6.6B valuation in UK's biggest IPO since 2021

SoftBank-backed Nigerian fintech OPay raised $185M in a private placement with Africa's biggest bank Standard Bank as it prepares to list in the US

Fidelity-backed RNAi-based drug developer of City Therapeutics filed for an IPO to raise $185M at a $950M valuation

Inflammation focused-biotech TRex Bio closed flat in its trading debut after raising $117M for a $385M market cap in an IPO priced at the bottom of marketed range

Banque du Caire will sell a 30% stake on Egypt's stock exchange

Power infrastructure firm Base Electron ​confidentially filed for and IPO

Inflammation-focused biotech Bambusa Therapeutics filed for an IPO

Christian-conservative wireless provider Patriot Mobile filed for an IPO

Swiss dental tech firm vVardis filed for a US IPO

Bankers are working on a $7.9B debt package to back a potential sale of Siemens Energy's steam turbines business, with PE firms CVC, EQT, and Bain Capital considering potential $12B bids

India's Aditya Birla Renewables is seeking $1.5B in rupee loans to fund its $1.8B acquisition of Shell's Indian ​renewable energy arm Solenergi Power

Cable TV firm Cable One is nearing a $1.25B financing to address its balance sheet

Cinven-owned French private school operator Omnes Education is looking to refinance $785M of debt

Ardian, GIP, Vodafone, and KKR-backed Italian telecom towers firm INWIT is arranging financing to buy out minority shareholders in a potential take-private

Electronic Arts secured an investment grade rating from Egan-Jones Ratings after some creditors sued claiming default following its record $55B LBO

Venezuela's creditor group now holds 37% of outstanding debt, a nominal value of $22B, and expects to reach 40% in the coming weeks

Virgin Media O2's bonds slid deeper into distress to 37¢ after UK's regulator said Nexfibre's expected $2.6B acquisition of Netomnia, in which Virgin has a stake, could hurt competition

Nursing home operator Genesis Healthcare won court approval to amend its $1B asset sale to 101 W. State Street, clearing way for a bankruptcy sale

A Jefferies fund claims it found fraud in $900M worth of deals by iron ore traders Radiant World and Sapphire Minmetals 

A federal judge temporarily blocked Cable One from acquiring the remaining stake in Mega Broadband Investments for $480M after lender CoBank sued to stop the transaction

Asian investment firm PAG is in exclusive talks with the liquidators of collapsed developer China Evergrande for a majority stake in its property management unit

SoftBank is seeking to raise $100B from Gulf SWFs to plow more into AI

Infrastructure investor Meridiam raised $4.5B for a CV holding 15 assets across America

VC secondaries firm Collective Global is seeking to raise $1.2B for its second GP stakes fund

Singapore SWF GIC sold $1B worth of Asian PE LP stakes in EQT, TPG Asia, and KKR in a deal with FOF Harbourvest Partners

Yale University sold another $1B of PE LP stakes in a deal with Harbourvest Partners

Private credit firm WhiteHorse Capital is seeking to raise a $680M multi-asset CV for its publicly traded BDC

Taurus Private Markets raised $300M for its third PE FOF

PE secondaries firm Pomona Capital reached an 80% fundraising target for its eleventh North America buyouts fund 

Secondaries firm Armen acquired a minority stake in Freshstream, the European PE firm operating as IHT Records Limited

China will build a new national blockchain network

Andrew Cuomo says tokenized stocks bring 'radical change' to markets

BoE says they will be 'the banker to the stablecoin'

Scott Bessent sent another brutal letter to Senator Elizabeth Warren for her lack of understanding of any economic topic and shared it on his Twitter for everyone to see. It's the most incredible thing you'll read today. Wait till you see his signature at the end.

Also, it's pretty tough to launch a hedge fund right now, even if you are a star-trader from one of the mega funds.