Bond Yields & Black Gold Dump, Big-Tech & Bitcoin Jump As Another Trump 'Deal' Looms; Yentervention Fades

Tl;dr: With July's chaos behind us, August offers a fresh palate with four 'P's driving today's price action: the "Perimeters" of a deal along with a "pause" in US strikes prompted a panic puke in crude, which dragged yields down and supported stocks (which extended Thurs/Fri's squeeze higher on the back cleaner "Positioning") but momo stalled. Bitcoin ride tech's coat-tails higher (despite Strategy selling) but the big story was the "Plunge Protectors" in the FX market with massive joint JPY intervention is starting to fade (USD flat on the day).

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