Latest: Post-Hormuz: Bullish or Bearish
"The end of the rally could very likely be a Nasdaq level 1 “limit-down”-type trade, and/or with SMH -15% to -20% in a single-session, and slowly moving into Pretty Damn Real Delta" - Charie McElligott.
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Calls for complete reevaluation of the role Pakistan is playing...
...stocks look past oil gains, bonds don't... momo melted up and silver soared...
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"a hotter print now is something markets can look through, but inflation is accelerating higher for the June print, then we think the bond market will react negatively, e.g., yields higher." - JPM
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Decapitation strategies represent a cartoon, video game style approach to foreign policy.
A feature, not a bug?
What President Trump has said to me, "I want to go in there"...
... downside hedges are materially cheaper than the broader macro narrative currently implies...
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India rejected Russia’s offer to sell it liquefied natural gas subject to US sanctions, despite a huge shortfall driven by Middle East tensions, leaving a tanker bound for India in limbo as talks continue on permitted cargoes.
The Pentagon almost never reveals their locations...
...panic mode?
"Spencer Pratt's PRICELESS reaction when socialist Nithya Raman dismisses him as a 'MAGA Republican' ...
Wonder how many Americans are mayors in China? Or is this just a Democrat thing...
Death by hanging...
Chinese car sales in China fell by 21.5% in April, driven by lower demand for gasoline-powered vehicles amid higher fuel prices. EV demand failed to offset the drop in internal combustion engine vehicle sales, as well...
"Venezuela loves Trump..."
The federal government is seeking industry inputs regarding integrating nuclear power across the United States’ fleets and logistical networks.
India’s Prime Minister called on the nation to work from home, travel less, and conserve fuel to help the government save foreign exchange.
NS
Even in a world of radical abundance, scarcity, tradeoffs, and uncertainty persist... and with them, the essential role of prices...
Nobody owns enough silver. What started as a quiet breakout is now turning into a much more aggressive squeeze, with price, momentum, and volatility all accelerating at the same time while positioning still remains surprisingly subdued. Convexity was badly mispriced. The market is starting to realize it.
China tech is quietly starting to stir again just as earnings, AI momentum, and the upcoming Trump–Xi meeting line up as potential catalysts. Nobody really believes in this trade yet, but that is exactly what could make the squeeze violent if China tech finally starts catching up.
BofA’s latest “Beautiful Game” report runs 50 pages deep into the macro, tech and consumption machine that is the 2026 World Cup. Think 6 billion viewers, $2.3 trillion industry revenues, 0.4% GDP impact and data volumes measured in exabytes. From airlines to AI to betting flows, this is no longer sport, it’s an economic event. Below we pull out the 10 best charts that actually matter.
SaaSapocalypse - but now for the shorts
Software is breaking trendlines and shrugging off a brutal Cloudflare warning. Positioning is still near record bearish, short covering has just started, and net exposure sits at a stunning -4 sigma. This squeeze isn’t done.
Here are a collection of the best bubble charts we have seen over the past few days. They will not make you smarter. They do not say anything about timing. But they serve as a good reminder that we are clearly in "bubble territory". Good luck riding it and timing your exit. "There is no training, classroom or otherwise, that can prepare for trading the last third of a move." (Paul Tudor Jones)
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