Good morning. On Fortune’s radar today: Anthropic’s $2 trillion IPO prospectus leaked. Markets: Oil and bonds are driving the drama. The equity risk premium on stocks over bonds has collapsed. Private credit lenders are girding for trouble. What would happen if they closed the Pa nama Canal? AI hyperscalers need $300 billion in revenue to cover their costs. Stinking rich: The infamously smelly durian fruit is a $7.4 billion industry. This story was originally featured on Fortune.com ...read more read less