0:00 I am standing on the floor of the exchange on this federal holiday, and here is what has just changed this hour.0:06 Last episode we tracked the fallout across Washington after Democrats swept both houses of Congress.0:12 Now, the economic picture has cracked open.0:14 Goldman Sachs just added a March interest-rate hike to its Federal Reserve forecast, after October core inflation printed at three point seven five percent.0:23 That marks three consecutive months of upside surprises.0:26 Here are the headlines you need to know right now.0:29 Look, Honda is recalling more than six hundred thousand vehicles across the United States.0:34 Federal regulators confirmed the notice covers certain Pilot SUVs alongside Acura MDX and TLX models over a steering-assist software defect.0:42 In Nevada, Lithium Americas just raised the price tag on its flagship Thacker Pass project to three point eight three billion dollars.0:50 That is an increase of nearly nine hundred million dollars, driven by climbing labor costs and logistical bottlenecks.0:57 In Florida, a federal judge cleared President Donald Trump’s ten-billion-dollar defamation lawsuit against the BBC to proceed, ruling his claim over an edited January sixth speech clip is legally plausible.1:08 And in retail, Children’s Place is operating under Chapter eleven bankruptcy protection, listing eight hundred and eighty-one million dollars in debt alongside declining birth rates.1:19 Now, let us stay on the floor and look at the REAL shock.1:22 The ten-year Treasury yield spiked to five percent.1:25 That level raises borrowing costs on everything from corporate debt to consumer mortgages.1:30 But the damage is running straight into technology.1:33 Nvidia has fallen twenty-two point six percent over the past month.1:37 Hedge funds tracking equity, credit, and macro strategies just suffered simultaneous losses.1:42 Well, one industry analyst of sixteen years described last week as a coordinated failure where every strategy broke at once.1:49 Here is the thing.1:50 Markets had priced in an end to Federal Reserve rate increases by December.1:54 That assumption is dead.1:56 Federal Reserve Governor Christopher Waller put a half-point rate hike on the table for December after core monthly consumer prices rose zero point three percent.2:05 The pressure is not easing; it is broadening from energy into services.2:09 That part is confirmed; the rest is what analysts are projecting for the spring.2:14 So, higher borrowing costs are no longer a forecast.2:17 They are the reality dictating corporate capital, vehicle safety costs, and sovereign yields today.2:22 That is the picture from here.2:24 Back to you in the studio.
