
Global financial markets are navigating significant shifts as Japan enters a pivotal electoral period and Big Tech faces a massive capital expenditure reckoning. Japan’s first female prime minister, Sanae Takaichi, seeks a mandate for her expansionary fiscal agenda, even as 10-year government bond yields hit 27-year highs and insurers pivot away from falling bond prices. Simultaneously, North American technology giants including Amazon, Microsoft, and Alphabet have shed $900 billion in market value following plans to spend $660 billion on AI infrastructure by 2026, sparking fears that returns on these investments remain speculative. In Europe, France has transitioned into a net importer of agricultural goods for the first time in a decade, recording a 300 million euro deficit. This decline in competitiveness, exacerbated by trade tensions with the U.S. and strict EU environmental regulations, has fueled intense farmer protests against the proposed Mercosur free trade pact.
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