· Saturday
Daily briefs generated by sembr, the open-source semantic intelligence engine · every item links to its sources
BofA adds January as Jefferson puts inflation first; FSR flags AI leverage
The marginal move was toward a longer, not larger, sequence: BofA added a January hike for three consecutive moves and Jefferson made inflation his primary gauge, while Waller's 50bp trigger went unfollowed and the Fed's stability report flagged AI valuations and record hedge-fund leverage .
Mine strikes on three tankers in two days keep Hormuz a permission regime as Trump says no deal is needed and UBS flow gauges hit range lows
The water layer escalated again — two tankers hit sea mines in the strait on Friday and a third struck a mine east of Hormuz on the morning of 11/14, per Iranian state media, the second such incident of the day — while the political layer hardened around President Trump's "we don't need a deal with Iran" line and UBS's tracker put combined Hormuz-plus-bypass exports at the low end of their recent range at 11.2 mn b/d , with the IEA's first supply-surplus print since the war began setting a rebalancing narrative against the continuing risk premium.