PremiumTl;dr: Cooler US inflation and weakening growth data this week, crushed near-term Fed-hike expectations (dragging bond yields and the dollar lower, but curve steeper amid fiscal/financing fears); while AI-infra earnings kept stocks pinned near records (Tech outperforming, Staples lagging, Momo making a comeback) even as Iran/Hormuz pushed oil sharply higher (Energy stocks the week's big winners). Digital gold was clubbed like a baby seal this week as the barbarous relic outperformed.On one hand, this has felt like the first quiet week in a long time, as volume and volatility are clearly ebbing. Inflation Cooled - And The September Fed-Hike Trade Collapsed
'Goldi-Stocks' & The Treasury Bears: Schizophrenic Cross-Asset Chaos Spread This Week
...stocks have NEVER been more expensive... as markets spent the week trying to reconcile two increasingly contradictory narratives...
TL;DRAI
U.S. inflation cooled, crushing Fed-hike odds; bond yields and the dollar fell while the yield curve steepened amid fiscal concerns, yet AI-infrastructure earnings pinned stocks near records. For tech leaders, lower rate expectations ease capex financing pressure while robust AI-infrastructure demand sustains GPU and foundation-model spending momentum.
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