Key headlines from global financial media overnight and this morning include: 1. Rubio says the first day of US-brokered Russia-Ukraine peace talks was "productive" and calls for greater European involvement. 2. Fed officials signal faster rate hikes, with Governor Waller saying a 50 basis point increase may be needed in December. 3. Anthropic plans to raise up to $90.4 billion through an IPO and private placement, potentially surpassing SpaceX's record. 4. CoreWeave, Inc. (CRWV) reported Q3 revenue of $3.66 billion, beating expectations and raising its annual revenue outlook, easing concerns about a business slowdown. 5. Wall Street expects another big bonus year, but the industry outlook may weaken. 6. US Treasuries suffered a fierce sell-off as inflation data and hawkish Fed comments rattled rate bets.
Rubio says first day of US-brokered Russia-Ukraine talks "productive," urges greater European involvement
US Secretary of State Marco Rubio praised the first day of US-brokered Russia-Ukraine talks as productive and said the Trump administration and Europe share the same goal of ending the conflict, now in its fifth year. After meeting with G7 foreign ministers and Ukrainian Foreign Minister Andrii Sybiha on Tuesday, Rubio praised progress made in talks held that day in Abu Dhabi. "The talks in Abu Dhabi were very productive," Rubio told reporters after the G7 meeting. "But what really matters is that the Europeans are involved too."
Fed officials signal faster rate hikes, Governor Waller says 50 basis point increase may be needed in December
Higher-than-expected US inflation in October has made the Fed's anti-inflation efforts more urgent, with central bank officials hinting that rate hikes could accelerate in the coming months. Fed Governor Christopher Waller warned on Tuesday that a one-time 50 basis point rate hike may be needed in December. Subsequently, Dallas Fed President Lorie Logan expressed support for at least two more 25 basis point hikes, saying the pace may need to be faster than what policymakers have done so far this autumn. Together, their remarks sent the clearest signal yet that policymakers are seriously considering raising rates by more than 25 basis points combined over the next two policy meetings. Speaking in London before the October CPI data was released, Waller said he favored a December hike, but if inflation continues to accelerate, he would support a 50 basis point increase to protect the Fed's credibility.
Anthropic plans to raise up to $90.4 billion through IPO and private placement, potentially surpassing SpaceX's record
Anthropic PBC is seeking a fully diluted valuation of about $1.4 trillion in an initial public offering (IPO), aiming to become the first frontier artificial intelligence lab to go public. The developer of the Claude chatbot and its co-founders seek to raise up to $90.4 billion through the IPO and a private placement. According to documents filed with the US Securities and Exchange Commission on Tuesday, the base offering aims to raise up to $64.4 billion, with a pitch price range of $70 to $78 per share. Anthropic will issue 801.4 million shares, while its investors will sell 23.6 million shares. The documents show the offering also includes a private placement totaling $26 billion, with participants including AMD, Broadcom, Alphabet's Google, Micron Technology, Microsoft, Nvidia and TSMC.
CoreWeave Q3 revenue of $3.66 billion beats expectations, raises annual revenue outlook, easing business slowdown concerns
AI computing power provider CoreWeave, Inc. (CRWV) reported quarterly results that exceeded analyst expectations and also raised its annual forecast, easing investor concerns about a business slowdown at the debt-laden company. The company said in a statement on Tuesday that it expects revenue of $13 billion to $13.3 billion this year. Its previous forecast range had an upper limit of $13.2 billion. Third-quarter revenue rose to $3.66 billion. Bloomberg-compiled data show analysts had forecast an average of $3.56 billion. The company posted a loss of $1.27 per share, better than the $1.46 per share loss analysts expected. After the earnings release, CoreWeave shares rose about 5% in after-hours trading on Tuesday. As of Tuesday's close, the stock had fallen 32% this year.
Wall Street expects another big bonus year, but industry outlook may weaken
As large US banks post record profits, Wall Street is poised for another big bonus year, though the industry outlook remains uncertain. Compensation consulting firm Johnson Associates Inc. expects year-end pay for traders executing stock trades for investors and bankers helping companies raise funds in the equity market to rise 20% to 30% or more. This would be the third consecutive year that financial institutions have raised compensation. Johnson Associates Managing Director Alan Johnson said in an interview that market momentum in recent months has driven very strong performance this year, and "banks continue to perform better than expected." Although the good times continue, Johnson is cautious about the outlook for 2027. He said a large share of current trading, underwriting and advisory activity is driven by just a handful of stocks, and such strong momentum may not be sustainable.
US Treasuries hit by fierce sell-off as inflation data and hawkish Fed comments shake rate bets
Due to higher-than-expected inflation and Fed officials warning of possibly more aggressive rate hikes, the US bond market suffered one of its worst sell-offs since April 2025. On Tuesday, the yield on 2-year US Treasuries, which is more sensitive to Fed policy changes than longer-term bonds, surged as much as 21 basis points to 4.77%, on track for its largest single-day increase since Trump's reciprocal tariff measures triggered global market turmoil. The move marked another sharp reversal in the bond market. Since early last month, US Treasuries had risen sharply as tech stocks fell and oil prices retreated.
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