Good afternoon and welcome to Markets Desk.
Akamai is the standout mover in tech today after confirming a deal to provide cloud computing infrastructure to Anthropic, the AI company backed by Amazon. The agreement, valued at twelve billion dollars, signals that enterprises are increasingly looking beyond the hyperscalers — Amazon, Microsoft, Google — for AI workloads, and Akamai's edge network gives it real leverage in that conversation. Shares are surging on the news.
Turning to the bond market, Treasury yields continued grinding higher to close out the week, extending a global selloff that rattled fixed income markets across multiple sessions. The catalyst is a combination of stronger-than-expected U.S. economic data and persistent uncertainty around fiscal policy. When growth data surprises to the upside, it pushes back rate-cut expectations, and that pressure shows up directly in yield levels.
And a disclosure drawing sharp attention in Washington — President Trump filed a report with the Office of Government Ethics showing his financial accounts executed over one thousand one hundred fifty six transactions in July alone. That is nearly forty times the volume logged by Treasury Secretary Scott Bessent for all of last year. The sheer frequency raises transparency questions that ethics watchdogs are unlikely to let sit quietly.
That's the tape. Markets Desk, signing off the floor.
