"AI is back as the key driver for global markets."

...long-bond and bullion bid (another new record)... mega-cap and most-short stocks slammed...

"Equities continue to enjoy a positive tilt, while gold has cemented itself as the market’s most compelling anchor."

AI stocks +77% from April lows as M&A/IPO tsunami continues...

"As the world’s oldest inflation hedge... gold is likely to remain well supported"

...bitcoin down as rate-cut expectations slide post-Powell.

"It’s clear the Fed is willing to support growth and the jobs markets"

...'spot-up, vol-up' melt-up in stocks ahead of tomorrow's triple-witch.

“Fed cuts are good for tech and long duration stocks.”

"No one really knows where the economy will be in three years..."

"There’s the potential for big divergence between officials"

The dollar dived to a fresh cycle low - its lowest close since March 2022...

"Capex and profit forecasts linked to AI are overwhelming"

...gold surges amid more liquidity and loose financial conditions...

"At this moment of the cycle, bad news just doesn’t stick”

...slumping sentiment and lethargic labor markets spark short squeeze in stocks.

“the market is overestimating the scale of rate cuts across the 12 coming months”

...mortgage rates tumble along with the flattening yield curve as the dollar dumps...

"Even if we do have a bit of a bump in CPI, it can be short-term, driven by tariffs"

...skews are surging as heavily-exposed investors hedge crash risk.