“The performance of the semis has been parabolic, so it’s not surprising there’s some profit-taking. Maybe there is also an element of the returning doubts over the monetization of AI.”

"Bonds were more nervous about the inflation picture and the equity market was comforted and encouraged by the very strong earnings and AI-led optimism"

...peace-on, peace-off, peace-on; risk-on, risk-off, risk-on... piss off!