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Andy Constan, founder and strategist at Damped Spring Macro, highlights the market's strong rejection of a major business initiative by ORCL over the past year.
Constan points out that ORCL shares have fallen 58 percent following the company's decision to build compute capacity. He adds that 10-year notes intended to finance this project are down 9 percent or up 136 basis points in yield, while benchmark U.S. Treasuries are up 40 basis points.
Constan has previously noted that market participants are attentive to signals such as task force formation for rate policy decisions, as reported in an earlier observation. He has also discussed working alongside Warren, citing his trading expertise across overrights and derivatives in a separate account. These insights reflect Constan’s engagement with both market structure and individual market actors.