Hungary votes, Hormuz stays shut, Hogg's PAC burns cash

Anthropic committed $21 billion to Broadcom for nearly one million Google-designed TPU v7p AI chips, delivered as fully assembled rack systems for direct data center deployment. The deal bypasses Google as an intermediary and forms part of Anthropic's broader $10 billion commitment to Google's TPU infrastructure as the Claude maker scales from $1 billion to $7 billion in annualized revenue in nine months. Broadcom CEO Hock Tan is targeting $100 billion in AI chip revenue by 2027, positioning the company as a key alternative to Nvidia's GPU dominance through custom silicon partnerships.

Brent crude's 60% surge to $104.63 since the Iran war began could persist even after fighting ends if the Strait of Hormuz remains unstable, according to Homin Lee at Lombard Odier. The strategist noted that 15 ships have passed through with Iran's permission, but sustained $100+ oil requires only the threat of closure, not active blockade. With 80% of Hormuz flows heading to Asia, energy-importing economies face prolonged stagflation risks that could outlast any military resolution.

JPMorgan CEO Jamie Dimon said the $1.8 trillion private credit market is too small compared to $13 trillion bond and mortgage markets to pose systemic risk, even as he predicted "higher than anticipated" losses in a future downturn. Goldman Sachs reported repurchase requests below 5% of shares in its private credit funds, suggesting no investor panic despite recent high-profile defaults like First Brands' $10+ billion borrowing collapse. Dimon's annual shareholder letter acknowledged weakening credit standards but maintained confidence in the sector's contained impact.

Philippine inflation surged to approximately 3.8% in March, the fastest pace in 20 months, as oil prices climbed 40% month-on-month and the peso hit record lows near 61 to the dollar. The central bank warned inflation could breach the 4% target ceiling, with every $10 oil increase widening the current account deficit by 0.3-0.4% of GDP. The World Bank estimates household incomes could fall 3.3% if oil stays 60% above 2025 levels, threatening the Philippines' energy-import dependent economy as Middle East supply disruptions persist.

India's economy faces its biggest external shock in years as the Iran conflict exposes dangerous energy dependencies, with 85% of crude imports and over half from the Middle East now at risk. Goldman Sachs and ANZ cut growth forecasts to 6.5% from 7% as Brent crude hit $114.35, while Indian stocks fell 10% since the war began. Every $10 oil increase widens India's current account deficit by 0.4% of GDP, potentially pushing it above 3% if prices sustain $150+ levels, threatening the Goldilocks growth phase that made India the world's fastest-growing major economy.

NASA's Artemis II crew traveled 248,655 miles from Earth on Sunday, surpassing Apollo 13's 1970 record as the farthest human spaceflight. The four astronauts will reach 252,756 miles before looping back, validating Orion spacecraft systems for the 2027 lunar landing mission. Mission data will inform commercial lunar economy investments and Mars preparation as NASA pushes beyond symbolic milestones toward sustainable Moon presence.

Synchronized bystander videos show ICE agent fatally shot Renee Nicole Good as her SUV turned away from him, contradicting federal claims she tried to ram the officer during Operation Metro Surge. The multi-angle footage analyzed by The New York Times shows the agent remained standing with no evidence of vehicle impact, raising questions about use-of-force protocols and narrative accuracy. A separate incident one week later involved an ICE shooting of a Venezuelan man during a traffic stop.