US stock indexes rose as investors rotated out of AI stocks and into value following another hot inflation report 

US 10Y yield dropped as much as 15 bps to a three-week low as a haven rush reversed the months-long bond selloff 

10Y munis yields fell 16 bps to 3.74% in their best day since April 2025

TSMC posted record profits in Q3 for a sixth-straight quarter as revenue beat last year's estimates by 58% thanks to the AI boom

Full calendar here

While Fed officials are in no rush to hike rates, yesterday's red-hot producer inflation reading only solidified the case for more tightening

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Tesla debuted Tesla Roadster (WSJ)

Producer inflation surged 6.3% YoY by the most since 2022 (CNBC)

Progress toward a US-Mexico tariff deal has stalled (WSJ)

Market selloff, rising rates test AI data centre deal boom (RT)

Investors dump data center bonds as AI borrowers face 'Darwin moment' (FT)

$1T chip rout draws billions into leveraged ETF bets (BBG)

Private credit faces deployment squeeze as fundraising hits record (RT)

Bankers are set for $440M in fees from Apollo-easyJet deal (FT)

College endowments see biggest gains since 2021 on SpaceX and AI (WSJ)

Harvard endowment hits record $68B after 27% YoY return (BBG)

Everyone is split over 'AI doom' fears (RT)

Anthropic results may aid IPO but not AI trade (BBG)

Anthropic stands along as rest of US IPO market slows to a crawl (BBG)

NYC called for Anthropic to pause IPO for AI safety (BBG)

Tesla's top energy exec departed (WSJ)

Netflix replaced its chief content officer amid declining share price (FT)

777 Partners' Josh Wander pleaded guilty to fraud (FT)

Credit Suisse secured $800mn from insurers in Greensill settlement (FT)

KFC ditched PepsiCo for Coca-Cola (RT)

EU will fastrack SpaceX satellite rival (BBG)

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Musk's Tesla and SpaceX may announce plans to merge before December

Thoma Bravo-owned cybersecurity company Proofpoint will buy ‌data security firm Varonis Systems in a $6.3B all-cash deal 

Motown Acquisition Corp., an entity jointly owned by transportation giant Penske and Japanese trading house Mitsui, will take-private car dealership group Penske Automotive at a $16.3B valuation, including debt, at a 10% premium

Canadian insurance giant Fairfax Financial will acquire a 60% stake in India's IDBI Bank for $6B

PE firms Lone Star and ​Atlas Holdings are exploring bids for the EMEA packaging business of International Paper which could fetch $6B

PE firm GTCR and activist hedge fund Elliott agreed to acquire car insurance software provider CCC Intelligent Solutions for $4.6B at a 45% premium 

PE firms CVC and Nippon Sangyo Suishin Kiko are weighing a joint $3.2B bid for Japanese health products maker Kobayashi Pharmaceutical

Dubai is developing a new $1.4B financial district called the Water Gardens

German carrier Lufthansa is in talks to take full control of Portugal's flag carrier TAP for $1.5B after winning a bid to take a 49.9% stake for $1.3B

Great Hill Partners-backed custom apparel company Custom Ink is exploring a $1.5B sale

Swiss luxury goods giant Richemont and Signet Jewelers are in talks to join Global Diamond Consortium to buy diamond monopoly De Beers from Anglo American for potentially $1B  

Laboratory operator Labcorp will buy BioReference Health laboratory testing operations, ​including its clinical diagnostics, women's health, urology and ​corrections testing businesses from Opko Health in a $722M cash deal

Malaysia's IOI Properties Group is in exclusive talks to buy the Chijmes retail venue and the Capitol Kempinski hotel in Singapore for a combined $770M

Zara founder Amancio Ortega acquired the One North Wacker tower in Chicago for $550M

EQT agreed to buy US real estate investment manager Stockbridge for an ​initial consideration of $375M

Canadian AI lab Cohere agreed to buy AI software cybersecurity startup Aisle

Permira-owned wedding planner platform The Knot Worldwide agreed to buy smaller peer Zola

Binance.US is looking to raise $100M at a $1B valuation

Abby Care, an AI-native home care startup that trains family members to become certified, paid caregivers and operates as a Medicaid provider, raised an $82M Series C led by Transformation Capital

Stand, an insurtech focused on home resilience, raised a $70M Series C at a $1B valuation led by Saga Ventures

Mueon, a semiconductor systems company building a modular foundation for AI and hyperscale computing, raised a $65M Series A led by Maverick Silicon

North.cloud, an infrastructure spend intelligence and automation platform, raised a $60M Series B led by PeakSpan Capital

Rabot Energy, a provider of dynamic electricity tariffs and home energy management, raised a $50M Series B led by Endeit and DeepTech & Climate Fonds  

Origin, a physical AI company building general-purpose robots for interior construction, raised $20M in funding co-led by Accel and Zacua Ventures

Sharp Performance, a confidential performance coaching platform for first responders, raised an $18M Series A led by Hidden Variable

CarbonAI, an AI-powered CRE lending platform, raised $12M led by Cowboy Ventures  

OQT, a Korean quantum computing startup, raised a $10.5M pre-Series A led by DSC Investment 

Fission, a blockchain-enabled fintech building liquidity infrastructure for tokenized investment funds, raised a $10M Series A led by Pantera Capital

Solvera, an AI-native engineering firm for construction, raised a $6.3M pre-seed round led by Seedcamp

Nigeria's Dangote Cement is seeking to raise $1B in a secondary share on London

Japanese news app SmartNews plans to IPO in Japan at a $320M valuation; the firm was valued at $2B in a 2021 Series F

Indian investment firm Trifecta Capital Partners expects to IPO firms including consumer appliances company Atomberg Technologies, fintech Fibe, interior design firm Livspace India, online milk and dairy platform Country Delight, and used car platform Cars24 Services in the next year 

Nvidia-backed AI drug developer Iambic Therapeutics jumped 18% in its trading debut after raising $150M for a $900M market cap in its IPO

Banks are competing to join JPMorgan's $4.25B debt financing backing Curium's acquisition of radiopharma company Lantheus Holdings

JPMorgan is weighing a fresh $4B debt sale for Silver Lake-backed survey software firm Qualtrics' acquisition of data analytics platform Press Ganey Forsta

Pizza Hut is in early talks for an ABS sale to help fund its $1.5B buyout by LongRange Capital

KKR-backed RIA Beacon Pointe raised $1.2B in debt 

Castlelake is issuing a $1.1B CRE CLO backed by loans on 26 properties managed by a Brookfield-owned sponsor

Italian lender UniCredit is weighing an SRT tied to $1B of German mortgages

Argentina paused a $1B dollar bond sale in local markets as yields surge

Spanish telecom Telefónica is considering granting a vendor loan to Oxio and Newfoundland Capital, who are buying Telefónica Mexico for $450M

Korea's largest car rental company Lotte Rental delayed a debut dollar bond sale

UK's Cityfibre Infrastructure asked banks to write down part of a $2.7B loan and to provide new money for acquisitions as its seeks to stay afloat

Wellness company Hain Celestial Group is weighing a Chapter 11 bankruptcy filing

Audax Private Equity is seeking $6.25B for its eighth flagship fund

Nordic Capital is set to raise a $2.2B multi-asset CV from Ardian, HSBC, StepStone, CVC

UK software PE firm Hg raised $1.1B for a debut GP-led secondaries fund

Aldaron, new PE firm founded by Palantir and Carlyle veterans, raised $885M for its debut fund to transform companies with AI

KKR-backed VC firm Catalio Capital is seeking to raise $500M to back AI healthcare startups

MSCI removed Strategy from its indexes

Criminals stole $90M of crypto by hiding password readers in Ledger devices

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