Bonds Bid & Hike-Odds Hammered On More Deflation; Memory Stocks Slammed As Mag7 Surges

Tl;dr: The rotation from Memory (winners) into MegaCaps continued today (AAPL, CRWV, & SPCX as potential catalysts) leaving broad equity markets rangebound (but Nasdaq rescued by 0-DTE Put covering). Rate-hike odds, yields, and the dollar fell on cool PPI (and lower oil). Bitcoin was bid while bullion did nothing.

...and all amid slow summer liquidity.

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