AI largely drove the show last week on the risk front. We started poorly, as Blue Owl pulling out of a future Oracle deal triggered some fears. But we finished the week strong as Micron had a solid beat, alleviating many concerns (a nice, soft CPI print helped matters too). This flip-flopping back and forth on the AI story fits well with last week’s themes – AI Debt Diet vs AI Spend Diet. Bitcoin seemed to be a decent leading indicator for stocks, but the past few days watching Bitcoin’s intraday moves was about as painful as watching Elaine dance ... AI, CEOs, Yields, and Peace