Bonds & Big-Tech Bounce Back From Fed-Cred-Carnage; Dollar Dumped, Gold Jumped

Tl;dr: For a pleasant change, oil did nothing. After yesterday's Fed-cred-crushing collapse, stocks and bonds bounced back today amid micro (solid EPS from MSFT & Samsung) and macro (PCE cool, GDP weak, Consumption strong, Claims strong). The liquidation of a major AI fund (to Ken Griffin) also played into BTFD confidence that the momo carnage could be over. Lower yields (and rate-hike odds) dragged the dollar down (JPY intervention too) pushing gold higher. Crypto tracked tech higher.

'Relief rally...' or the real thing?

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