The 3Q Moat Index review cut software that rallied after March’s AI reassessment and added cheaper Mag 7 exposure via Meta and Alphabet. Index stays underweight mega-cap tech and value-biased.

Anthropic CEO published a letter calling for an AI slowdown. We explain how the industry reacted, and what this means for investors.

Treasury’s pivot toward long-bond buybacks gives duration buyers their first clear green light in months — and the November midterms may add a second leg.