US stocks closed lower yesterday as investors digested the Fed's first rate hike in years

Turkey's BIST 100 index fell 5.5% after one of the country's biggest fund managers failed to meet investor redemption requests

UK sold 30Y gilts at a 5.8% yield, the highest since 1998

Chinese oil prices hit a record high after Iran attacked a Saudi pipeline

Lennar missed Q3 earnings and revenue estimates and cut FY deliveries guidance as interest rate and inflation pressure and weak consumer confidence continue to make for a weak housing market (WSJ)

What we're watching this week:  

Full calendar here

The Fed is projecting ANOTHER rate hike by year-end after raising rates for the first time since 2023

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Fed raised rates to 3.75%-4% in first hike since 2023 (CNBC) 

Kevin Warsh skipped Fed's dot plot again (BBG)

​​Trump says US interest rates should be 1% or lower (RT)

AI safety push sparks rift inside OpenAI and Anthropic (FT)

US is open to discussing shared AI risks with China (AX)

Foreign holdings of US Treasuries fell to a nine-month low (BBG)

Software and platform stocks are top Asian AI picks (BBG)

Korea stocks turnover fell to the lowest YTD as enthusiasm dwindles (BBG)

Hong Kong may launch its first bond index by year-end (BBG)

Democrats take aim at PE's role in healthcare (WSJ)

PE and foreign investors fuel Aussie M&A in 2026 (RT)

SEC moves to scrap rules on shareholder proxy proposals (BBG)

Goldman CEO warned of softness in Q3 fixed income trading (BBG)

PwC UK revenue fell for the first time in two decades (FT)

Chipotle partnered with Palantir to track food safety risks (WI)

McLaren will debut an SUV to compete with Lamborghini and Ferrari (FT)

US poverty rate fell to its lowest level ever (RT)

$18B-listed waste management firm GFL Environmental is open to a take-private

Canadian AI startup Cohere and German peer Aleph Alpha will merge to form a $20B firm

Owner Clearlake Capital agreed to acquire billionaire financiers Mark Walter and Todd Boehly's combined 25% stake in UK soccer club Chelsea FC at a $6.7B valuation, including debt

Energy firm ​National Fuel Gas is exploring options for its integrated natural gas production business, which could fetch a $5B valuation

Starbucks is considering selling a majority stake in its Japan business at a $3B valuation

Brookfield agreed to buy Australian plumbing supplies company Reliance Worldwide in a $2.9B all-cash deal at a 32% premium

KKR emerged as the preferred bidder for Canada's OTPP-owned Portuguese packaging maker Logoplaste after Apax Partners dropped out of the process; the firm could fetch a $2B valuation

German data center cooling systems maker Güntner is weighing a $1.2B sale, with Advent, Blackstone, Cinven, and KKR among potential bidders

AI healthcare startup Sword Health will acquire meditation/mental health app  Headspace for $300M cash

The family of UK billionaire Joe Lewis will inject another $160M into UK soccer club Tottenham Hotspur FC

Spirits company Sazerac is in talks to acquire $40M-listed German schnapps maker Berentzen-Gruppe 

Air France-KLM is willing to offer Portugal a stake as part of its bid for a 50% stake in nationalized flag carrier TAP

Portugal short-listed six investors to submit non-binding offers ‌for a 75% stake in local carrier Azores Airlines

Glencore and InfraVia Capital Partners are among suitors interested in a stake in French miner Eramet's lithium operation in Argentina

Ardian-backed green investor Hy24 and Spanish public-private financial institution COFIDES ​will take a combined 29% stake Spanish energy firm ‌Moeve's Onuba renewable hydrogen project

EU warned miner MMG of antitrust action over its plan ​to buy Anglo American's Brazilian nickel business

Canada opened its four largest airports to private capital

Drone startup Zipline is in talks to raise $1B at a $20B valuation

Space transportation tech startup Impulse Space raised a $308M funding round from 137 Ventures, Lux Capital, Valor Equity Partners, and others

Anew Labs, the AI drug making startup spun off from China's ByteDance, raised $290M at a $1.5B valuation in a debut external funding round led by HSG, IDG Capital, Hillhouse ​Investment's GL Ventures, and 5Y Capital

Ridgeline, an AI-native investment management platform, raised a $250M Series E at a $1.425B valuation led by founder Dave Duffield 

EnduroSat, a Bulgarian SpaceTech company, raised $205M in a funding round co-led by Riot Ventures and Atreides Management

Fortell, an AI hearing aid startup, raised $163M from Founders Fund, Thrive Capital, and Valor Equity Partners

Arcee AI, an open-weight AI model startup, raised a $150M  Series B at a $1B pre-money valuation led by Vista Equity Partners, Cambium Capital, and Emergence Capital 

Model ML, an AI software for IB and other financial services, is in talks to raise over $100M at a $1B valuation

BackOps, the AI resolution layer for companies that make or move physical goods, raised a $42M Series B led by Insight Partners

Noetive, an AI neolab for operational technology, raised a $41M seed round led by Eclipse

Rune, a modular compute system platform, raised a $40M Series A led by Spark Capital 

Footprint, an AI OS for risk and compliance, raised a $25M Series B led by QED Investors 

Tare, a private credit exchange-builder, raised a $13.25M seed round led by Blockchain Capital

Franco-German tank maker KNDS may delay its IPO to next year; a listing could fetch a $15B valuation 

Goldman Sachs, HSBC, Fidelity, GIC, ADIA, and others anchored the $2.4B IPO of National Stock Exchange of India, which priced at the top of a marketed range

Nuclear supplier Holtec suspended its $900M IPO on AI industry fears

Germany's biggest power producer RWE bought an ‌additional 3% stake in M31 to raise its stake in unit transmission system operator ​Amprion to 58% and become a majority shareholder of M31

Autonomous ride-hailing technology firm May Mobility will merge with ACP Holdings Acquisition in a $1.4B deal

A group of 10 banks including Goldman Sachs, SMBC, and Barclays is providing a $22B chip loan to support Blackstone and Alphabet's new cloud venture Crux AI

Romania will scale back its $11.5B eurobond issuance plan on political uncertainty

LA-based Cedars-Sinai Health System is considering a $2B munis sale

KKR-backed APAC flexible workspace provider The Executive Centre raised $585M in financing from Apollo 

$670M of leveraged loans of Permira and Spectrum Equity-backed wedding planning platform The Knot Worldwide are trading at distressed 70¢ just weeks after a refinancing

Blackstone is seeking to raise $8B for a renewables and digital infrastructure private credit fund

Bain Capital Ventures raised $1.6B for a new fund to back startups building for life after AGI

Canadian VC Portage raised $600M for its fourth fintech fund

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Zuck shared a short essay detailing his view on the recent AI doomio sentiment. A rare contrarian view to Dario and Altman…