"...watch hyperscaler debt..."
PremiumTl;dr: A lot of moving parts today (bank earnings better, IBM warnings, CPI coolings, Iran attackings, Trump warblings, & Warsh hawkings) left most of the market lower (breadth bad), bond yields and rate-hike odds lower but gold, bitcoin, and black gold higher.Rates
...a 'twisty' QE-lite promise failed to inspire bonds but bitcoin and gold saw the writing on the wall...
Credit desks are where the adults sit, and the adults are sending a strange, two-faced signal...
...Hormuz hope fades again as AI's circular financing fears reawakened...
...momo meltdown continues as S&P rallies to longest win-streak in over a year...
...SaaSpocalypse 2.0 and a DeepMind departure trump Iran deal-driven decline in crude prices...
...bonds worst week in 13 months, oil near war highs, dollar ripped, stocks finally stagger...
