JP Morgan has launched a basket of credit default swaps designed to let hedge funds bet against the debt of $GOOGL, $AMZN, $ORCL, $META, and $MSFT
Big Short 2 Coming? Source: Barchart
Why Memory Stocks Crashed Today: TurboQuant Just Changed The Game With "Google's DeepSeek Moment"
Micron Technology (MU) fell 17% in 5 days, losing $90B market cap (now $430B), alongside Sandisk, Seagate, and Western Digital. Not earnings, but Google’s TurboQuant cutting memory use 6x, boosting inference 8x shocked markets. By reducing AI hardware needs, it threatens memory demand, signaling a shift toward software efficiency over hardware dominance. Source: Provided text
Russian President Vladimir Putin signed decrees Wednesday restricting cash and gold exports as part of a broader campaign to combat the shadow economy and curb capital flight.
Under one decree, carrying ruble cash across the border of Russia to the Eurasian Economic Union (EAEU) will be prohibited in the amount equivalent to more than $100,000 at the exchange rate of the Bank of Russia from April 1, with certain exceptions. The other decree bans the export of gold bars weighing more than 100 grams from Russia starting May 1. It includes some exceptions and does not apply to commercial banks. Both decrees were published on the government portal. Source: www.aa.com.tr, Macro Liquidity by Sunil Reddy
What happened to luxury stocks ?
Current Drawdowns: EssilorLuxottica: -39% Hermès: -41% Ferrari: -43% LVMH: -49% $RACE $RMS $MC $EL Source: Fiscal.ai
The limited flow of traffic moving through the Strait of Hormuz is now sailing exclusively through an IRGC-controlled corridor requiring specific clearance codes and an Iranian escort service.
Source: LLoyd's List
Range or breakdown?
Markets are at a decision point. The big range is still holding, but short-term trends, bond stress, and positioning shifts are building pressure. These setups don’t linger, one side eventually wins. Source: TME
Pinpointing the next “Taco” moment has become Wall Street’s newest fixation.
This week, Deutsche Bank’s head of cross-asset strategy, Maximilian Uleer, introduced a “pressure index” designed to act as a proxy for potential shifts in rhetoric or strategy from the US administration. The index incorporates several indicators, including the one-month change in Trump’s approval ratings, one-year inflation expectations, movements in the S&P 500, and US Treasury yields. Source: FT
Iran Controls Passage Through the Strait of Hormuz
Iran has announced it will allow “non-hostile vessels” to transit the Strait of Hormuz, but only under Iranian control and coordination. This strait normally carries ~20% of global oil, yet thousands of ships are delayed, attacked, or paying high fees. Iran may block vessels linked to the US or Israel and is drafting laws to formalize control. Beyond shipping, this move signals a financial shift, including potential moves away from the US dollar, turning the Strait into a strategic leverage point in global energy and trade. Source: Financial Times
