...moves felt different yesterday

“What we’re seeing in the marketplace is fear, because nobody understands really who the winners and losers will be
 

HIMS is certainly FAFO-ing around in GLP-1 space. 

 

Amidst market volatility in the US, uncorrelated global trades can help diversify portfolios in addition to generating alpha...

"The reset we have announced today is part of the decisive process..." 

"early signs of deleveraging underway. Balance sheet uncertainty and expected vol uptick playing into unwinds…"

Another batshit insane capex forecast. 

..."another violent session" in US equities as 'equity crash risk' re-appears, started in China with metals liquidation...

JOLTS sink beneath expectations, claims jump above forecasts while challenger layoffs accelerate in January; Trump says Iran is negotiating; US and Russia agree to re-establish military-to-military talks; BoE holds rates as expected but with a more dovish vote split; ECB holds rates as expected; GOOGL beats on earnings, CapEx 2026 outlook raises concerns; Anthropic launches Claude Opus 4.6 AI model that it calls 'industry-leading' in finance; QCOM guidance underwhelms; HIMS to sell a copy of NVO's Wegovy pill at $49/month, NVO to take legal action; RIO and Glencore reportedly decide against merger.

"perhaps the best thing Amazon could do would be to announce that it plans only moderate capital expenditure in 2026."

A real property-rights vulnerability embedded in the architecture of modern finance.

...the Fed Put is somewhat deeper out of the money but remains present in the event of a real crisis...

"Crowded positioning coincided with an air pocket in demand, leaving consensus longs without a marginal buyer. A snapback is possible, but MS quants would sell any bounce in Momentum..."

...matters because farmer confidence is cracking.

Just more bad news for Goldman's long-time Novo bull James Quigley... 

The US jobs market just fell off a cliff, again.