Mag7 Saves Stocks From 'Black Monday' Redux As CRWV Dead-Cat-Bounce Trounced; Bonds & Bullion Slide

Tl;dr: With the ghost of 'Black Monday' hovering over the weekend, Wall Street's best and brightest unleashed a full court press this morning to save stocks. Upgrades and optimism lifted CRWV bond prices, squeezed data-center stocks higher, revived AI leadership, and rallied NDX over 2% at the highs of the day (but there was no follow through with NeoClouds barely green). While France burned (physically and its bonds and stocks), UST yields rose on a heavy calendar, and US credit spreads widened (a little) even as VIX also compressed. While the dollar was broadly flat, gold and bitcoin pushed lower during the US session.

39 years ago today...

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