Five anonymised historical charts were dealt to every player. The Monkey Index returned -0.14% across the same tape.
66 desks completed all five charts.
Trade tensions were flaring and the Federal Reserve was preparing its first rate cut in a decade, triggering a rush to hedge across interest-rate futures. The exchange had run hard on that surge in volume, but right on the eve of the decision the momentum stalled.
Smartphone data was exploding and mobile carriers were scrambling to lease every mast in sight to build out 4G. With long-term rental income locked in, the steady push higher simply rolled on.
Global energy prices were spiking and early inflation nerves had fund managers hiding in defensive power grids. The steady autumn grind simply carried on.
AI data centres had suddenly turned sleepy power grids into prime real estate, with tech giants scrambling for every spare megawatt. The climb paused for breath, but the buyers never flinched.
Months of promises about steel tariffs and an infrastructure bill had produced little, leaving domestic mills drifting through a quiet autumn. Buyers finally broke the lull as Washington closed in on corporate tax cuts.