Disinflation, Deal-Doubts, & Doubling-Down: Bond Yields Drop, Oil Slop, Tech Pops

Tl;dr: Korean degens are back to lifting tech bids (with leverage we assume), sparkling a gamma squeeze at the US open (which was faded - tech still outperformed). Cool PPI (following cool CPI) pushed rate-hike odds down (less than one hike priced in) and bond yields lower as oil chopped around (weaker demand forecast vs deal doubts and Houthi strikes). Crack spreads blew out amid continued refiner disruptions (Ukraine-Russia). The dollar ended flat but gold and bitcoin tumbled late on.

KOSPI rallied for the 4th straight day (up 30% from the July lows)...

Oil