Good morning. On Fortune’s radar today:
Bond vigilantes blow through Scott Bessent’s red lines. Does Iran have Trump cornered? The markets: Ugh. Robot maker Unitree’s IPO gives it $66 billion market cap. This chart might—might—predict when the AI bubble bursts. OpenAI and Anthropic now out-earn Windows and Office. Why there are always fewer than 100 emails in Siemens CEO Roland Busch’s inbox.➡️ Did someone forward you this email? If you would like to receive this information directly, every morning before the markets open in New York, sign up here.
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