This roundup covers technology earnings, Anthropic's finances, US housing and UK markets. Quarterly results from SpaceX and Super Micro Computer strengthened AI optimism and lifted Wall Street on Wednesday. Relatively stable energy, currency and US government bond markets allowed technology earnings to drive trading. However, European markets experienced greater movement. France's 10-year government bond yield exceeded 5% for the first time in nearly 25 years.
Anthropic recorded a net loss of $80.7 billion in the first half of this year, compared with $13 billion a year earlier. A $72 billion accounting charge accounted for most of the increase. The first-half loss was almost twice the $42 billion loss Anthropic reported for calendar year 2025. Anthropic generated just over $16 billion in revenue during the first six months of the year. Columnist Jamie McGeever argues that investors can interpret the figures positively or negatively. McGeever describes the loss as alarming but notes that a one-time charge largely caused the loss. McGeever argues that revenue remains low and growth is slowing. However, McGeever argues that excluding the accounting charge makes break-even appear closer. McGeever questions whether the results and trends support the $1.5 trillion to $2 trillion IPO valuation Anthropic is considering.
US pending home sales fell in September to the lowest level since records started 25 years ago. Housing starts declined 5.2% during September to the lowest level since the pandemic. US homebuilder sentiment fell to the lowest level in nearly 14.5 years. Rising Federal Reserve interest rates, persistently high home prices and mortgage rates of 7.50%, the highest in three years, contributed to the weakness. McGeever observes that housing activity is weaker than during the 2008 housing crash, the crash's aftermath and the 2020 pandemic. McGeever argues that the weakness could damage growth because housing and related services are important to the US economy.
UK finance minister John Healey will present Healey's first budget next week. Figures released this week showed that September government borrowing again exceeded expectations. Public debt rose above £3 trillion. Debt interest payments partly explained the borrowing increase, with bond yields at their highest levels in decades. McGeever argues that rising debt and high yields create a difficult cycle and leave Healey little room to maneuver in the budget.
However, McGeever argues that the fiscal difficulties do not necessarily imply weakness for sterling. The latest inflation and wage figures reinforced market expectations of an interest-rate increase on November 5. Traders expect the Bank of England, alongside the Reserve Bank of New Zealand, to be the most hawkish G10 central bank over roughly the next year. Traders expect the Bank of England to raise rates by more than 100 basis points over that period. Sterling gained almost 3% against the euro over the past month to reach the highest level since May last year. Sterling also recovered against the dollar from the year's low. McGeever raises the possibility that sterling could next reach $1.35.
Anthropic Reports $80.7B Loss, US Housing Slumps, UK Debt Rises
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Summary
Market sentiment turned volatile as Anthropic reported an $80.7 billion net loss in H1 2026, mostly from a $72 billion accounting charge. US pending home sales hit a 25-year low in September, with housing starts and builder sentiment also falling. UK finance minister John Healey will unveil his first budget as public debt exceeds £3 trillion and bond yields climb. Meanwhile, positive earnings from SpaceX and Super Micro Computer lifted Wall Street, while France’s 10-year bond yield crossed 5%, a level not seen in nearly 25 years. Fear and greed index readings suggest mixed investor behavior amid the mixed economic signals.
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