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   Daily 2026-06-29
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                       All metrics are as of the latest market close.
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                         <td class="s21">
                          S&amp;P 500
                         </td>
                         <td class="s22">
                          1.16% ▲
                         </td>
                         <td class="s23">
                          7,439
                         </td>
                        </tr>
                        <tr>
                         <td class="s21">
                          GOLD
                         </td>
                         <td style="font-size:12px;color:#EA3459;font-weight:500;font-family:Trispace,monospace;width:30%;vertical-align:baseline;padding:10px 0 0 0">
                          1.59% ▼
                         </td>
                         <td class="s23">
                          $4,031
                         </td>
                        </tr>
                        <tr>
                         <td class="s21">
                          BITCOIN*
                         </td>
                         <td class="s22">
                          1.39% ▲
                         </td>
                         <td class="s23">
                          $60,321
                         </td>
                        </tr>
                        <tr>
                         <td colspan="3" style="font-size:10px;font-family:Trispace,monospace;color:#7F879C;padding:0">
                          *24-hour change
                         </td>
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                     <td align="left" style="font-size:0px;padding:10px 25px;padding-top:0;padding-right:0;padding-bottom:0;padding-left:0;word-break:break-word;">
                      <div style="font-family:Inter,sans-serif;font-size:1px;line-height:1.5;text-align:left;color:#000000;">
                      </div>
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                 </td>
                </tr>
               </tbody>
              </table>
             </div>
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</td><td class="" style="vertical-align:top;width:251.92px;">
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                     <td align="left" class="s8">
                      <table border="0" cellpadding="0" cellspacing="0" style="color:#000000;font-family:Inter,sans-serif;font-size:13px;line-height:22px;table-layout:auto;width:100%;border:none;" width="100%">
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                         <td class="s21">
                          FTSE 100
                         </td>
                         <td style="font-size:12px;color:#EA3459;font-weight:500;font-family:Trispace,monospace;width:30%;vertical-align:baseline;padding:10px 0 0 0">
                          0.07% ▼
                         </td>
                         <td class="s23">
                          10,501
                         </td>
                        </tr>
                        <tr>
                         <td class="s21">
                          BRENT OIL
                         </td>
                         <td class="s22">
                          2.32% ▲
                         </td>
                         <td class="s23">
                          $73.66
                         </td>
                        </tr>
                        <tr>
                         <td class="s21">
                          US BONDS*
                         </td>
                         <td class="s22">
                          0.00% ▼
                         </td>
                         <td class="s23">
                          4.38%
                         </td>
                        </tr>
                        <tr>
                         <td colspan="3" style="font-size:10px;font-family:Trispace,monospace;color:#7F879C;padding:0">
                          *10-year government yield
                         </td>
                        </tr>
                       </tbody>
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                </tr>
               </tbody>
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</td></tr></table>
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        <!--[if mso | IE]>
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                 <div style="font-family:Inter,sans-serif;font-size:14px;font-weight:700;line-height:1.5;text-align:left;color:#181c25;">
                  WALL STREET FEAR GAUGE INDEX 
(
                  <a style="font-weight:400;font-family:Trispace,monospace">
                   VIX
                  </a>
                  )
                 </div>
                </td>
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                    <td style="width:536px;">
                     <img alt="Wall Street Fear Gauge Index" class="s11" height="auto" src="https://inboxflows.com/_/image/https%253A%252F%252Ffinimize-img.imgix.net%252Fhttps%253A%252F%252Fimages.bannerbear.com%252Fdirect%252F7Q4rjJzQn7vZo8qPOx%252Frequests%252F000%252F150%252F891%252F417%252FOA0Ekvge5YdRElxA6KqRLpWxX%252Fc70760677b6bc6b1eaa6f5632ad0cbc2049fcd88.png%253Fauto%253Dformat%2526fit%253Dclip%2526h%253DNone%2526ixlib%253Dpython-3.1.2%2526w%253D1200%2526s%253D5e58841e9a005699836002428794ede2/?inbox_flows_img_sig=eyJwYXRoIjoiaHR0cHMlM0ElMkYlMkZmaW5pbWl6ZS1pbSIsInRpbWUiOjE3ODI3NzA1NDcuNjQ4ODUzNX0:1weK3f:BduH7LvsUL965qftr3CnDQboakNSUAaA0anxEAa27v0" width="536"/>
                    </td>
                   </tr>
                  </tbody>
                 </table>
                </td>
               </tr>
              </tbody>
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            </td>
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          </tbody>
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        </div>
        <!--[if mso | IE]>
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        <!--[if mso | IE]>
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              <table border="0" cellpadding="0" cellspacing="0" role="presentation" width="100%">
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                   <tbody>
                    <tr>
                     <td align="left" class="s28">
                      <div class="s29">
                       <p data-block-key="10zqs">
                        🚫 Anthropic’s Mythos 5 is back – but only for a select few
                       </p>
                       <p data-block-key="ed77t">
                        <b>
                         👀 FOR PRO MEMBERS:
                        </b>
                        Chinese AI could spoil the party for OpenAi and Anthropic
                       </p>
                       <p data-block-key="4gjdc">
                        📺 Comcast is spinning off NBCUniversal into its own company
                       </p>
                       <p data-block-key="bvg40">
                        <b>
                         👇 Keep reading to find out
more
                        </b>
                       </p>
                      </div>
                     </td>
                    </tr>
                   </tbody>
                  </table>
                 </td>
                </tr>
               </tbody>
              </table>
             </div>
             <!--[if mso | IE]>
</td></tr></table>
<![endif]-->
            </td>
           </tr>
          </tbody>
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        <!--[if mso | IE]>
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<![endif]-->
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      </tr>
     </tbody>
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   <!--[if mso | IE]>
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                     👀
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                     Today's headlines
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                   <mj-raw>
                    <span class="s32">
                     Government Gatekeeping
                    </span>
                   </mj-raw>
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                       <img alt="Government Gatekeeping" class="s11" height="auto" src="https://inboxflows.com/_/image/https%253A%252F%252Ffinimize-img.imgix.net%252Fhttps%253A%252F%252Fchivas-assets.s3-eu-west-1.amazonaws.com%252Fstatic%252Fimages%252FEditorial-290626-Anthropic_1.original.png%253Fauto%253Dformat%2526fit%253Dcrop%2526h%253D600%2526ixlib%253Dpython-3.1.2%2526w%253D1200%2526s%253D9a49cd7882c451b719af9c32540a251e/?inbox_flows_img_sig=eyJwYXRoIjoiaHR0cHMlM0ElMkYlMkZmaW5pbWl6ZS1pbSIsInRpbWUiOjE3ODI3NzA1NDcuNjQ5MTIzN30:1weK3f:jtELl4X-ATHYuBNpCdWUC5cH27vtrQajZRDn3Narb5M" width="568"/>
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                  <div class="s29">
                   <p data-block-key="vznvj">
                    <b>
                     What’s going on here?
                    </b>
                   </p>
                   <p data-block-key="166ug">
                    The US government loosened the reins on its
                    <b>
                     Anthropic
                    </b>
                    restrictions, allowing the AI company to reinstate its “Mythos 5” model – but only for a select few.
                   </p>
                   <p data-block-key="5m86p">
                    <b>
                     What does this mean?
                    </b>
                   </p>
                   <p data-block-key="ao5ka">
                    Two weeks ago, the government
                    <a>
                     ordered
                    </a>
                    Anthropic to cut foreigners’ access to its powerful new Mythos 5 and Fable 5 models, citing security risks. That included the company’s non-American
                    <i>
                     employees
                    </i>
                    – and with only 90 minutes to comply, it just shut down both models entirely. Now, the government’s allowing Anthropic to switch
Mythos 5 back on for a group of roughly 100 companies and federal agencies – but Fable 5 has to stay down.
                   </p>
                   <p data-block-key="1sl1l">
                    ▶ Cutting-edge models used to be released into the wild. But that’s changed now, with the US government choosing who gets the most powerful ones first. The strategy was formalized in a June executive order, outlining a framework that gives the government 30 days of pre-release access to new AI models. That’s why
                    <b>
                     OpenAI’s
                    </b>
                    soft-launching its new GPT-5.6
model to just 20 government-approved partners.
                   </p>
                   <p data-block-key="6m51k">
                    <b>
                     Why should I care?
                    </b>
                   </p>
                   <p data-block-key="cvo2p">
                    <b>
                     <i>
                      Zooming out:
                     </i>
                    </b>
                    <i>
                     Building a fortress…
                    </i>
                   </p>
                   <p data-block-key="7h7rg">
                    If the framework sticks, that’ll have serious knock-on effects for how AI is built, deployed, and monetized.
                   </p>
                   <p data-block-key="2gcs2">
                    🔺 The winners will be the who’s who of US tech: the firms
                    <i>
                     already in
                    </i>
                    the government’s trusted circle (think
                    <b>
                     Nvidia
                    </b>
                    ,
                    <b>
                     Google
                    </b>
                    ,
                    <b>
                     Microsoft
                    </b>
                    ). They’ll be months ahead of anyone else, widening their advantage.
                   </p>
                   <p data-block-key="ooju">
                    🔻 Smaller AI startups, foreign companies, and newcomers will bear the brunt of the restrictions. For your own AI exposure, that may strengthen the case for sticking with bigger tech companies.
                   </p>
                   <p data-block-key="129g9">
                    <b>
                     <i>
                      The bigger picture:
                     </i>
                    </b>
                    <i>
                     ...that’s maybe a prison.
                    </i>
                   </p>
                   <p data-block-key="d9rnq">
                    Chinese models like
                    <b>
                     Zhipu
                    </b>
                    's GLM-5.2 can be downloaded and
used by anyone, anywhere. And they're catching up fast: GLM-5.2 now matches Mythos in cybersecurity bug-finding. So while America limits its own innovators’ growth, Chinese alternatives can spread – powered by US firms’ advanced chips. And that could make it harder for stateside labs to keep their lead.
                   </p>
                  </div>
                 </td>
                </tr>
                <tr>
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                   You might also like ⇢
                   <a>
                    It’s Time You Take Chinese AI Seriously.
                   </a>
                  </div>
                 </td>
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<![endif]-->
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                     📈
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                    <span class="s18">
                     Chart Of The Day
                    </span>
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                     How China Could Spoil The US AI Party
                    </span>
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                   <p data-block-key="pr7ai">
                    Sometime in the next 18 months, investors may be offered a piece of the
                    <a>
                     two most hyped companies
                    </a>
                    on the planet.
                   </p>
                   <p data-block-key="7mltk">
                    <b>
                     OpenAI
                    </b>
                    and
                    <b>
                     Anthropic
                    </b>
                    are both moving closer to
the public markets, potentially at
                    <a>
                     eye-watering valuations
                    </a>
                    . And the pitch will be simple: these are the companies building the most important technology of the century, so get in
                    <a>
                     before everyone else
                    </a>
                    does.
                   </p>
                   <p data-block-key="c9qtk">
                    But there’s a complication that investors
                    <a>
                     shouldn’t ignore
                    </a>
                    .
                   </p>
                   <p data-block-key="8l0i9">
                    <a>
                     <b>
                      Read or listen to the Insight
here
                     </b>
                    </a>
                   </p>
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                         Theodora Lee Joseph, CFA
                        </a>
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                     👀
                    </span>
                    <span class="s18">
                     Today's headlines
                    </span>
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                  <div class="s31">
                   <mj-raw>
                    <span class="s32">
                     Changing Channels
                    </span>
                   </mj-raw>
                  </div>
                 </td>
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                 <td align="center" class="s5">
                  <table border="0" cellpadding="0" cellspacing="0" class="s9" role="presentation">
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                       <img alt="Changing Channels" class="s11" height="auto" src="https://inboxflows.com/_/image/https%253A%252F%252Ffinimize-img.imgix.net%252Fhttps%253A%252F%252Fchivas-assets.s3-eu-west-1.amazonaws.com%252Fstatic%252Fimages%252FEditorial-290626-NBCUniversal_1.original.png%253Fauto%253Dformat%2526fit%253Dcrop%2526h%253D600%2526ixlib%253Dpython-3.1.2%2526w%253D1200%2526s%253D7be3dc99a732ed83644cdbc0463266f7/?inbox_flows_img_sig=eyJwYXRoIjoiaHR0cHMlM0ElMkYlMkZmaW5pbWl6ZS1pbSIsInRpbWUiOjE3ODI3NzA1NDcuNjUwMDMxM30:1weK3f:wd0S38VcBaBUtGTCQPk0WaLnzeU9zapgIzBHuLX5KdQ" width="568"/>
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                  <div class="s29">
                   <p data-block-key="mgxew">
                    <b>
                     What’s going on here?
                    </b>
                   </p>
                   <p data-block-key="1vqo3">
                    Telecom and media giant
                    <b>
                     Comcast
                    </b>
                    announced plans to spin off
                    <b>
                     NBCUniversal
                    </b>
                    into a separate publicly traded company.
                   </p>
                   <p data-block-key="7g12k">
                    <b>
                     What does this mean?
                    </b>
                   </p>
                   <p data-block-key="95a8l">
                    The who-gets-what in this split is clear: NBCUniversal will take the theme parks, film and TV studios, and broadcast networks, as well as
streaming service
                    <b>
                     Peacock
                    </b>
                    and
                    <b>
                     Sky
                    </b>
                    , its European group. Comcast will keep the broadband, wireless, and cable TV businesses – plus a near 20% stake in NBCUniversal for at least a year after the split. And shareholders will end up with stock in both companies. Of course, all of this needs to be rubber-stamped by both regulators and the current Comcast board.
                   </p>
                   <p data-block-key="aqgas">
                    🔺Investors are digging the news: Comcast’s stock jumped 4.5% on Monday.
                   </p>
                   <p data-block-key="cc7ri">
                    <b>
                     Why should I care?
                    </b>
                   </p>
                   <p data-block-key="bu59">
                    <b>
                     <i>
                      Zooming in:
                     </i>
                    </b>
                    <i>
                     The old “conglomerate discount”.
                    </i>
                   </p>
                   <p data-block-key="bk3ir">
                    Part of what’s driving this decision is the belief that Comcast’s currently trading for
                    <i>
                     less than
                    </i>
                    the sum of its parts. Its NBCUniversal business is valued well below peers like
                    <b>
                     Disney
                    </b>
                    . After all, it’s got big sports like the NFL and NBA, a profitable studio business, popular theme parks, and a strong cable and
broadband division. So spinning that whole business off into its own company could get it a valuation that’s more in line with what it’s actually worth.
                   </p>
                   <p data-block-key="128lv">
                    <b>
                     <i>
                      The bigger picture:
                     </i>
                    </b>
                    <i>
                     Decluttering.
                    </i>
                   </p>
                   <p data-block-key="9kn70">
                    Traditional cable and media giants are trying to adapt to a rapidly changing media landscape. For Comcast, that means separating faster-growing businesses from slower ones – earlier this year, it actually spun off most of its cable
channels (including CNBC, MSNBC, and SyFy) into a new independent company,
                    <b>
                     Versant
                    </b>
                    . And for others, that looks more like merging with similar companies to offer scale.
                    <b>
                     Charter Communications
                    </b>
                    and
                    <b>
                     Cox Communications
                    </b>
                    have announced plans to merge, which’d create America’s biggest cable and broadband provider.
                   </p>
                   <p data-block-key="fes53">
                    ▶ Meanwhile, a loose NBCUniversal could be an attractive takeover target – and
                    <b>
                     Netflix
                    </b>
                    , which lost
                    <b>
                     Warner Bros.
                    </b>
                    to Paramount’s
$100 billion bid, just might be interested…
                   </p>
                  </div>
                 </td>
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                 <td align="left" class="s5">
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              <table border="0" cellpadding="0" cellspacing="0" class="s4" role="presentation" width="100%">
               <tbody>
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                 <td align="left" class="s15">
                  <div class="s16">
                   <mj-raw>
                    <span class="s17">
                     ✨
                    </span>
                    <span class="s18">
                     ​​​​​​​​​​​​​​​​​​​​​​​​​Sarah's Digest
                    </span>
                   </mj-raw>
                  </div>
                 </td>
                </tr>
               </tbody>
              </table>
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                  <div style="font-family:Trispace,monospace;font-size:12px;line-height:1.5;text-align:left;color:#5E6984;">
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                    Samsung And SK Map Out A 2,000 Trillion-Won Chip Push
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                  <div class="s35">
                   The South Korean giants are expected to outline a 10-year investment plan tied to President Lee Jae Myung’s industrial strategy, including multiple new fabs and expanded packaging and NAND capacity.
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                   🚀
                   <a>
                    Rocket Lab’s $8 Billion Iridium Deal Brings A Starlink-Style Playbook
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                <tr>
                 <td align="left" class="s5">
                  <div class="s35">
                   The acquisition adds a ready-made LEO communications network and 2.5 million subscribers, with Rocket Lab leaning on its Neutron rocket for future launches.
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                   🚬
                   <a>
                    BAT Plans AI-Led Restructuring And 5,500 Job Cuts
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                 </td>
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                 <td align="left" class="s5">
                  <div class="s35">
                   The tobacco giant says the changes should save £600 million a year by 2028, with its biggest market, the US, excluded.
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                   <a>
                    Wall Street’s AI Trade Is Starting To Fight The US Economy
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                   Reuters says solid jobs and spending are colliding with falling big tech and lower Treasury yields as higher real rates start to bite.
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                  <div class="s16">
                   <mj-raw>
                    <span class="s17">
                     🖋️
                    </span>
                    <span class="s18">
                     Quote of the day
                    </span>
                   </mj-raw>
                  </div>
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               </tbody>
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                 <td align="left" class="s5">
                  <div class="s29">
                   <strong>
                    "A dream you dream alone is just a dream. A dream you dream together is reality."
                   </strong>
                   – - Yoko Ono (a Japanese artist, musician, and peace activist)
                  </div>
                 </td>
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               <tbody>
                <tr>
                 <td align="left" class="s30">
                  <div class="s16">
                   <mj-raw>
                    <span class="s17">
                     🎯
                    </span>
                    <span class="s18">
                     On Our Radar
                    </span>
                   </mj-raw>
                  </div>
                 </td>
                </tr>
               </tbody>
              </table>
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                   <tbody>
                    <tr>
                     <td align="left" class="s28">
                      <div class="s29">
                       <p data-block-key="aaghi">
                        <b>
                         1. Grand Theft Auto Parts.
                        </b>
                        Thieves are
                        <a>
                         targeting Tesla batteries
                        </a>
                        before they leave the factory gates.​​
                       </p>
                       <p data-block-key="cpavv">
                        <b>
                         2. Dear Future America.
                        </b>
                        Here’s what’s in the
                        <a>
                         900-pound time capsule
                        </a>
                        being buried for the country’s big birthday.
                       </p>
                       <p data-block-key="2sknq">
                        <b>
                         3. Swipe right, but subscribe first.
                        </b>
                        Newsletter writers are
                        <a>
                         playing Cupid
                        </a>
                        for readers with the
same niche obsessions.
                       </p>
                      </div>
                     </td>
                    </tr>
                   </tbody>
                  </table>
                 </td>
                </tr>
               </tbody>
              </table>
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          <tbody>
           <tr>
            <td align="left" class="s5">
             <div class="s29">
              Stay classy, Sarah 😉 This issue of the Daily Brief was curated by
              <a class="s36">
               Theodora
              </a>
              ,
              <a class="s36">
               Russell
              </a>
              , and
              <a class="s36">
               Linda
              </a>
              . Got an idea? A question?
              <a>
               Get in touch
              </a>
              .
             </div>
            </td>
           </tr>
          </tbody>
         </table>
        </div>
        <!--[if mso | IE]>
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               <tbody>
                <tr>
                 <td align="left" class="s30">
                  <div class="s16">
                   <mj-raw>
                    <span class="s17">
                     💌
                    </span>
                    <span class="s18">
                     THAT WAS GREAT FOR US... HOW WAS IT FOR YOU?
                    </span>
                   </mj-raw>
                  </div>
                 </td>
                </tr>
               </tbody>
              </table>
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        <!--[if mso | IE]>
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<![endif]-->
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         <table border="0" cellpadding="0" cellspacing="0" class="s4" role="presentation" width="100%">
          <tbody>
           <tr>
            <td align="center" class="s37">
             <table border="0" cellpadding="0" cellspacing="0" class="s38" role="presentation">
              <tbody>
               <tr>
                <td align="center" bgcolor="#f8f9ff" class="s39" role="presentation" valign="middle">
                 <a class="s40" target="_blank">
                  <span aria-hidden="true" role="img">
                   🔥
                  </span>
                  Hot stuff
                 </a>
                </td>
               </tr>
              </tbody>
             </table>
            </td>
           </tr>
          </tbody>
         </table>
        </div>
        <!--[if mso | IE]>
</td><td class="" style="vertical-align:top;width:189.33333333333337px;">
<![endif]-->
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         <table border="0" cellpadding="0" cellspacing="0" class="s4" role="presentation" width="100%">
          <tbody>
           <tr>
            <td align="center" class="s37">
             <table border="0" cellpadding="0" cellspacing="0" class="s38" role="presentation">
              <tbody>
               <tr>
                <td align="center" bgcolor="#f8f9ff" class="s39" role="presentation" valign="middle">
                 <a class="s40" target="_blank">
                  <span aria-hidden="true" role="img">
                   👍
                  </span>
                  Just alright
                 </a>
                </td>
               </tr>
              </tbody>
             </table>
            </td>
           </tr>
          </tbody>
         </table>
        </div>
        <!--[if mso | IE]>
</td><td class="" style="vertical-align:top;width:189.33333333333337px;">
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        <div class="mj-column-per-33-333333333333336 mj-outlook-group-fix s6">
         <table border="0" cellpadding="0" cellspacing="0" class="s4" role="presentation" width="100%">
          <tbody>
           <tr>
            <td align="center" class="s37">
             <table border="0" cellpadding="0" cellspacing="0" class="s38" role="presentation">
              <tbody>
               <tr>
                <td align="center" bgcolor="#f8f9ff" class="s39" role="presentation" valign="middle">
                 <a class="s40" target="_blank">
                  <span aria-hidden="true" role="img">
                   😒
                  </span>
                  ...Meh
                 </a>
                </td>
               </tr>
              </tbody>
             </table>
            </td>
           </tr>
          </tbody>
         </table>
        </div>
        <!--[if mso | IE]>
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