According to @KobeissiLetter, the current macro mix includes Trump stating he will keep stocks at record highs, Magnificent 7 capital expenditures at $600B per year, the Fed cutting rates with inflation above 3%, global AI infrastructure spend at $1T per year, the Fed ending Quantitative Tightening in 2 days, and U.S. deficit spending above 6% (source: @KobeissiLetter). According to @KobeissiLetter, traders are focusing on the liquidity and fiscal backdrop highlighted by these points, which are typically relevant for risk assets including BTC and ETH due to sensitivity to rates, QE/QT shifts, and capex-driven growth cycles (source: @KobeissiLetter). According to @KobeissiLetter, monitoring the Fed’s QT end timeline, the path of rate cuts with 3%+ inflation, and mega-cap AI capex updates is central to positioning in crypto and equities (source: @KobeissiLetter).

According to @KobeissiLetter, J.P. Morgan estimates the AI boom will drive roughly $1.8 trillion in new bond sales in 2026, signaling a major supply increase that markets must price. According to @KobeissiLetter, Magnificent 7 CapEx is currently running at an annualized pace above $600 billion. According to @KobeissiLetter, this is being framed as the biggest wave of investment in U.S. history. Traders should watch Treasury yields, IG/HY credit spreads, and liquidity-sensitive assets such as BTC and ETH for knock-on effects from the projected issuance and CapEx reported by @KobeissiLetter.