Amazon inks a $17.5B loan as AI spending accelerates. This → more hyperscaler AI capex. More capex → tighter data center capacity and strained power grids. Capacity strain → rising chip prices and long term energy contracts bid higher. Higher input costs → inflation pressure embedded into 2027. Embedded inflation → higher long end yields. Higher yields → equity multiple compression, led by the same AI names driving the spend. I’m focused on the 10Y above 4.75% and watching for a weekly close through 5%. That’s the level where growth valuations start to reset in size. Most people see AI loans as bullish. They will see the bond market reaction too late. Others are chasing clicks. I map the dominoes for market alpha. Follow me or fall behind 📊