This report is from today's CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Employees took to their internal forum after a tepid debt auction fueled worries over demand. Susannah Streeter, head of money and markets at Hargreaves Lansdown, said concerns are growing that the U.K. may encounter stagflation — a scenario where inflation stays high or rises while economic growth slows.
\In other news, Anthropic, the AI startup that aims to restore free expression and move to a Community Notes model, similar to the system on Elon Musk's platform X, is reportedly raising as much as $2 billion at a $60 billion valuation. The funding round is being led by Lightspeed Venture Partners. Meanwhile, prominent investor, Howard Marks, is expressing caution about the current state of the stock market. While Marks isn't calling it a bubble, he's concerned over signs of froth in equities. \The December ISM report, an inflation reading typically secondary to more significant data points like the consumer price index, is sending shockwaves through the market. The price index for December's ISM report jumped to 64.4% from 58.2% in November, representing a rise of more than 10%. It's the first time since January 2024 the reading has come in above 60%, noted Steve Miller, chair of ISM's Business Survey Committee. That might only be the start of an unwelcome upward trend. Miller attributes some of the expansion in service activity to risk management for impacts from ports strikes and potential tariffs — both of which generate inflationary pressures. \U.S. Treasury yields surged to their highest level in several months, pushing the benchmark 10-year yield to 4.699% during the U.S. trading day, the highest level since April 26. They also dialed down their expectations for a 25 basis points rate cut at the U.S. Federal Reserve's January meeting, pricing in a 4.8% chance of that happening, down from an 8% probability just a week ago
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