THE SUPREME COURT HITS THE BRAKES ON TARIFFS

The S&P 500 is currently stuck in its tightest year-to-date trading band since the 1960s. This comes even as individual stocks see massive price swings driven by artificial intelligence speculation.

Over in Europe, the Stoxx 600 powered ahead to establish a new all-time high.

Iron ore prices slipped for a sixth consecutive week. This is the metal's longest losing stretch since 2022.

The euro is trading near a one-month bottom as geopolitical tensions between the U.S. and Iran weigh on the currency.

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Policy escalation or strategic pivot? (Polymarket).

Fourth-quarter U.S. GDP expanded by 1.4% year-over-year, while the PCE inflation gauge held below the 3% mark. (CNBC)

The U.S. is pivoting to a 15% universal tariff in response to the recent judicial roadblock. (WSJ)

European Union officials stated they will reject any upward revision of U.S. levies following the court decision. (RT)

Domestic investors are pulling their capital out of U.S. equities at a velocity we have not witnessed since 2010. (RT)

Meanwhile, stock markets across Europe are enjoying unprecedented capital inflows. (FT)

Cybersecurity shares took a hit after Anthropic unveiled the latest iteration of its Claude AI model. (BBG)

Massive private equity vehicles are finding it increasingly difficult to liquidate their corporate holdings in China. (FT)

African sovereign debt issuance is off to its most robust start to a calendar year since 2013. (BBG)

The team at Goldman Sachs has introduced a new equity index that specifically excludes artificial intelligence companies. (AX)

JPMorgan reportedly terminated bank accounts connected to the former president shortly after the events of January 6. (RT)

Leadership at OpenAI projects that global spending on computing infrastructure will reach an astonishing $600 billion by 2030. (RT)

The estate of Jeffrey Epstein has finalized a $35 million agreement to settle a class-action lawsuit brought by victims. (RT)

Private equity giant KKR is testing the waters for a $1.5 billion sale of its IT service management platform BMC Helix.

Activist fund Pleasant Lake Partners has secured a 10% position in the $250 million publicly traded toy manufacturer Funko. They are aggressively pushing the board to consider a full sale.

TDR Capital and I Squared Capital-backed rental power supplier Aggreko is planning a US IPO or stake sale at a $12B valuation.

Baypine and TSG-backed auto service chain Mavis Tire selected Bank of America and Goldman Sachs for a $2B IPO.

JPMorgan is structuring a massive $5.3 billion debt package. The financing will bankroll data analytics firm Qualtrics in its $6.75 billion takeover of healthcare surveyor Press Ganey.

Goldman Sachs is reportedly exploring sweeter terms on a $1.7 billion leveraged loan package. The debt is linked to chemical manufacturer Arclin and its $1.8 billion purchase of the Aramids division from DuPont.

A syndicate including Blue Owl-backed Kuvare and major pensions CalPERS, OMERS, and BCI snapped up $1.4 billion in loans originally held by Blue Owl. The debt traded near par as the alternative asset manager looks to recycle capital back to its private credit investors.

Technology and government-focused private equity firm Veritas Capital has successfully closed its ninth flagship vehicle with a massive $15.3 billion in fresh commitments.

Vision Ridge Partners, an investment shop focused on sustainable real assets, has wrapped up fundraising for its fourth vehicle at $2.4 billion.

The Wall Street Journal put together an excellent foundational piece explaining the administration's revised trade levies, complete with a helpful tariff tool kit following the high court's decision.

The WSJ also released a sharp podcast episode breaking down exactly why slapping tariffs on imports rarely fixes structural global trade imbalances.