Bessent's Bailout Brings Big Week For Bonds, Bitcoin, & Bullion But Battered Big-Tech & The Buck

Tl;dr: The week exposed the realities of some familiar fault lines - unsustainable fiscal dynamics, geopolitical energy shocks, and a consumer starting to feel the pinch of higher energy costs - while official interventions bought only temporary calm.

The market began the week without a care in the world (Goldman's Panic Index at multi-year lows)...

The Global Bond Rout Became The Week’s Dominant Macro Theme