The new norm... Intel shares surge 9% in premarket trading after Trump announces chipmaker will work with Apple to design and produce semiconductors domestically. Spokespeople for Intel and Apple didn’t immediately respond to requests for comment. bloomberg.com/news/articles/…

3 out of top 6 are UK Universities 🤔 This might explain it.....QS has faced criticism over opacity, potential commercial conflicts and its methodology.

AI or nothing trade in EM particularly evident in China as weakening domestic demand and involution drags down everything non AI. Broad Chinese equity market down nearly 20% from recent highs while semiconductor/AI related stocks surge to new highs

Good Morning Moscow.... Ukraine continues to pummel Russian refineries causing fuel shortages and forcing evermore barrels of Russian oil into the global market even as Russian oil production falls.

Impressive for a company that loses money on $18.7 billion in revenue compared to Amazon's $717 billion

All of that subsidized "clean" energy in China is going to produce a lot of waste in coming years. Problem is that the recycling industry, like so many in China, is unprofitable. So getting rid of all that clean energy waste will require even more subsidies

Probably not a good sign

Up over 18% in a week. Good example of the need when investing in EM to be able to buy when there is blood in the street, usually figuratively sometimes literally

“The Russian official who broke the internet and set the country back decades in the name of ‘digital sovereignty’ deserves a national security medal — from the US”.... the crackdown is driving away Russia’s tech talent “We’re living as if we’re back in the Stone Age.” ft.com/content/da121259-3823… via @ft

Loweing bar from replacing dollar to replacing euro. These articles always end the same... Analysts caution not to overstate pace of yuan internationalisation, as it faces major structural limitations to challenging the dollar’s global dominance. “China maintains capital controls, its financial markets are not yet as open or liquid as US markets, and global investors still view US Treasury markets as the ultimate safe-haven asset, in times of crisis, capital still overwhelmingly flows into dollars rather than yuan.” sc.mp/ttffp?utm_source=twitt… via @scmpnews

Dedollarisation Update: Japan’s Retail Investors Flock to SpaceX The enthusiasm in Japan is so fervent that the company recently raised its local fundraising target by a quarter to $2.5 billion. bloomberg.com/news/articles/…

BRICS Currency Update: This should end well 🙄 Indian lenders have asked central bank if they can help individuals access USD loans from overseas to attract more capital under a new plan to ease strain on India’s external finances from fuel imports bloomberg.com/news/articles/…

They always say when playing a round of golf in Scotland, be prepared to experience all four seasons of the year

You know the investment climate is bad when you cant even sell a gold mine..... The Russian government has for a third time failed to sell one of the country’s largest gold producers at auction themoscowtimes.com/2026/06/1…

Dedollarization Update: Chinese investors circumventing capital controls with USD stablecoins to simulate investments in hot US IPOs such as SpaceX and OpenAI. Highlights lengths ordinary Chinese willing to go for exposure to western investments despite concerns the securities may not be legitimate ft.com/content/809a5144-ce28… via @ft

Tide continues to turn against Putin Ukraine builds cheap alternative to Patriot missiles ft.com/content/c5839dd4-c4e9… via @ft

US markets are close to ending more than two decades of declining equity supply as mega IPOs bring a flood of new shares while Big Tech groups look to multibillion-dollar share sales to fund their vast AI spending, in a reversal of decades of share buybacks

Dedollarization Update: Indian banks offer 7% on dollar deposits under new central bank program aimed at attracting capital flows to shore up the battered rupee bloomberg.com/news/articles/…

Indonesian stock market up 7.6% Indonesia unexpectedly raises interest rate to support rupiah. Central bank’s move follows rout in currency and stock market ft.com/content/f8fb7ef5-03df… via @ft