Premium'AI Jesus' Saves The World Again (But Tech Still Lagged); Bond Yields Tumble As Oil Spikes
Tl;dr: A lot of 'wrong way' action today that doesn't allow a nice little bow to be tied on it: AI/Tech was crushed early then saved by reassurance from NVDA CEO (who owns a stake in CRWV); bond yields tumbled despite hot PPI (energy) and strong growth data (Ret Sales & Claims). Stocks were very mixed (++DOW/RTY >> SPX > NDX with AI still red, but well off the lows). AI Credit was ugly (but off its wides). Everything completely ignored surging oil prices (more attacks); dollar dumped against no change in rate-hike odds (despite PPI)... and the only thing made sense against that was gold and bitcoin higher.
