Riskier credit markets are starting to respond more significantly to the dislocation in US equity markets
Spreads on high-yield bonds rose the most since August yesterday. They're still relatively low on a historical basis, but the trajectory is catching many people's attention. Source: Lisa Abramowicz @lisaabramowicz1, Bloomberg
Another bear coming?
That would be three bears in 5 years, something we've never seen before. The previous closest three bears ever was 6.9 yrs between 1966 and 1973. Source: Ryan Detrick, Carson
Nvidia $NVDA generated $3.6M in revenue and nearly $2M in net income per employee last year—more than any Big Tech company.
Source: Wall St Engine @wallstengine, Sherwood
Things are going great...
Source: FactPost @factpostnews
Small Cap Stocks $IWM are underperforming the S&P 500 by the largest margin since the Dot Com Bubble 🚨
Source: Barchart
GLOBAL M2 IS EXPLODING.
WILL BITCOIN FOLLOW SOON 🚀 ??? Source: Vivek⚡️@Vivek4real_
Gold trades above $3k for first time ever:
$3,000.40 (futs for now, spot shortly) Source: zerohedge, Bloomberg
The stagflation trade is proving to be a rare winner as the stock market rout continues.
The Goldman L/S Stagflation basket—which benefits from rising commodity & healthcare stocks while betting against consumer discretionary and chip stocks—has gained nearly 18% in 2025. Source: HolgerZ, Bloomberg
