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👋Good morning. Somewhere around 2:05pm ET on Wednesday, a lot of very expensive spreadsheets quietly stopped making sense, and this morning was the sound of everyone rebuilding them — coffee cups everywhere, calculators out, nobody quite ready to say the word "hawkish" out loud before 9am. It's the last full working day before the weekend crawl begins, and this week that means recalculating mortgage quotes, term sheets and hiring plans against a cost of capital that just moved in the wrong direction for anyone hoping to borrow cheap. Add a scoop about superpowers finding common ground on AI and a ransom note landing in a fintech's inbox, and the mood was less "steady as she goes," more "hold onto your spreadsheets." Here's what actually happened.
