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    Today's letter · Oct 19

    The Data Center Trade Is Starting to DeflateRead it
    Dylan Jovine, Founder & CEO of Behind the Markets

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    Dylan's Diary

    October 19, 2026

    The Data Center Trade Is Starting to Deflate

    Dear Reader,

    I want to talk about what’s been happening underneath the surface in the credit markets. Because while everyone was focused on the inflation report last week, those of us watching the bond market were witnessing something else entirely.

    Dylan Jovine

    Founder & CEO

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