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Bank Syz Ltd. accepts no liability for any loss arising from the use of this document. ## Straight from the Desk # **Syz** the moment Live feeds, charts, breaking stories, all day long. - [All](https://blog.syzgroup.com/syz-the-moment) - [equities](https://blog.syzgroup.com/syz-the-moment/tag/equities) - [United States](https://blog.syzgroup.com/syz-the-moment/tag/united-states) - [Macroeconomics](https://blog.syzgroup.com/syz-the-moment/tag/macroeconomics) - [Food for Thought](https://blog.syzgroup.com/syz-the-moment/tag/food-for-thought) - [markets](https://blog.syzgroup.com/syz-the-moment/tag/markets) - [Central banks](https://blog.syzgroup.com/syz-the-moment/tag/central-banks) - [bitcoin](https://blog.syzgroup.com/syz-the-moment/tag/bitcoin) - [Fixed Income](https://blog.syzgroup.com/syz-the-moment/tag/fixed-income) - [geopolitics](https://blog.syzgroup.com/syz-the-moment/tag/geopolitics) - [AI](https://blog.syzgroup.com/syz-the-moment/tag/ai) - [europe](https://blog.syzgroup.com/syz-the-moment/tag/europe) - [Asia](https://blog.syzgroup.com/syz-the-moment/tag/asia) - [gold](https://blog.syzgroup.com/syz-the-moment/tag/gold) - [Commodities](https://blog.syzgroup.com/syz-the-moment/tag/commodities) - [investing](https://blog.syzgroup.com/syz-the-moment/tag/investing) - [Technology](https://blog.syzgroup.com/syz-the-moment/tag/technology) - [Crypto](https://blog.syzgroup.com/syz-the-moment/tag/crypto) - [technical analysis](https://blog.syzgroup.com/syz-the-moment/tag/technical-analysis) - [nvidia](https://blog.syzgroup.com/syz-the-moment/tag/nvidia) - [oil](https://blog.syzgroup.com/syz-the-moment/tag/oil) - [china](https://blog.syzgroup.com/syz-the-moment/tag/china) - [ETF](https://blog.syzgroup.com/syz-the-moment/tag/etf) - [earnings](https://blog.syzgroup.com/syz-the-moment/tag/earnings) - [Forex](https://blog.syzgroup.com/syz-the-moment/tag/forex) - [energy](https://blog.syzgroup.com/syz-the-moment/tag/energy) - [banking](https://blog.syzgroup.com/syz-the-moment/tag/banking) - [magnificent-7](https://blog.syzgroup.com/syz-the-moment/tag/magnificent-7) - [Alternatives](https://blog.syzgroup.com/syz-the-moment/tag/alternatives) - [Volatility](https://blog.syzgroup.com/syz-the-moment/tag/volatility) - [Real Estate](https://blog.syzgroup.com/syz-the-moment/tag/real-estate) - [apple](https://blog.syzgroup.com/syz-the-moment/tag/apple) - [emerging-markets](https://blog.syzgroup.com/syz-the-moment/tag/emerging-markets) - [google](https://blog.syzgroup.com/syz-the-moment/tag/google) - [Middle East](https://blog.syzgroup.com/syz-the-moment/tag/middle-east) - [switzerland](https://blog.syzgroup.com/syz-the-moment/tag/switzerland) - [tesla](https://blog.syzgroup.com/syz-the-moment/tag/tesla) - [United Kingdom](https://blog.syzgroup.com/syz-the-moment/tag/united-kingdom) - [amazon](https://blog.syzgroup.com/syz-the-moment/tag/amazon) - [microsoft](https://blog.syzgroup.com/syz-the-moment/tag/microsoft) - [assetmanagement](https://blog.syzgroup.com/syz-the-moment/tag/assetmanagement) - [ethereum](https://blog.syzgroup.com/syz-the-moment/tag/ethereum) - [meta](https://blog.syzgroup.com/syz-the-moment/tag/meta) - [russia](https://blog.syzgroup.com/syz-the-moment/tag/russia) - [Industrial-production](https://blog.syzgroup.com/syz-the-moment/tag/industrial-production) - [Healthcare](https://blog.syzgroup.com/syz-the-moment/tag/healthcare) - [ESG](https://blog.syzgroup.com/syz-the-moment/tag/esg) - [Global Markets Outlook](https://blog.syzgroup.com/syz-the-moment/tag/global-markets-outlook) - [Turkey](https://blog.syzgroup.com/syz-the-moment/tag/turkey) - [inflation](https://blog.syzgroup.com/syz-the-moment/tag/inflation) - [bankruptcy](https://blog.syzgroup.com/syz-the-moment/tag/bankruptcy) - [brics](https://blog.syzgroup.com/syz-the-moment/tag/brics) - [Market Outlook](https://blog.syzgroup.com/syz-the-moment/tag/market-outlook) - [performance](https://blog.syzgroup.com/syz-the-moment/tag/performance) - [africa](https://blog.syzgroup.com/syz-the-moment/tag/africa) - [LLM](https://blog.syzgroup.com/syz-the-moment/tag/llm) - [Global](https://blog.syzgroup.com/syz-the-moment/tag/global) - [Market News](https://blog.syzgroup.com/syz-the-moment/tag/market-news) - [Weekly Equities](https://blog.syzgroup.com/syz-the-moment/tag/weekly-equities) Show more 26 Jan 2026 - - - #### Uranium miners closed at new all-time highs last week. Is the relative trend just getting started $URA $URNM $SPY Source: Donovan Jackson @TheDonInvesting on X The chart report [#Commodities|](https://blog.syzgroup.com/syz-the-moment/tag/commodities) [#equities](https://blog.syzgroup.com/syz-the-moment/tag/equities) ![Uranium miners closed at new all-time highs last week. Is the relative trend just getting started](https://blog.syzgroup.com/hubfs/2-Jan-26-2026-02-14-50-7610-PM.jpg) ![Uranium miners closed at new all-time highs last week. Is the relative trend just getting started](https://blog.syzgroup.com/hubfs/2-Jan-26-2026-02-14-50-7610-PM.jpg) 26 Jan 2026 - - - #### CoreWeave Behind the AI Hype, a Debt-Fueled Illusion Nvidia is investing $2B in CoreWeave, deepening a partnership central to AI infrastructure expansion. CoreWeave plans to build over 5 GW of AI data centers by 2030 using Nvidia’s next-gen platforms. However, despite the hype, CoreWeave’s financials raise serious concerns: the company is losing money on every dollar of revenue, carries a massive working-capital deficit, holds over $10B in long-term debt, and relies on rapidly depreciating GPU assets. Facing weak demand, CoreWeave is increasingly using “compute-for-equity” deals—trading GPU capacity for startup equity at inflated valuations—effectively acting like an AI venture capitalist rather than a stable infrastructure provider. The business model depends on continued access to debt markets; if funding dries up, risks fall heavily on retail investors while early institutional players are likely already exiting. [#equities|](https://blog.syzgroup.com/syz-the-moment/tag/equities) [#AI](https://blog.syzgroup.com/syz-the-moment/tag/ai) ![CoreWeave Behind the AI Hype, a Debt-Fueled Illusion](https://blog.syzgroup.com/hubfs/1-Jan-26-2026-02-13-15-3279-PM.jpg) ![CoreWeave Behind the AI Hype, a Debt-Fueled Illusion](https://blog.syzgroup.com/hubfs/1-Jan-26-2026-02-13-15-3279-PM.jpg) 23 Jan 2026 - - - #### Yesterday was the 15th straight day that the S&P 500 ($SPY) has failed to outperform the Russell 2000 ($IWM) IWM is now outperforming SPY by almost 900bps YTD... Source: www.zerohedge.com, Bloomberg [#equities](https://blog.syzgroup.com/syz-the-moment/tag/equities) ![Yesterday was the 15th straight day that the S&P 500 ($SPY) has failed to outperform the Russell 2000 ($IWM)](https://blog.syzgroup.com/hubfs/10-Jan-23-2026-10-05-28-9225-AM.jpg) ![Yesterday was the 15th straight day that the S&P 500 ($SPY) has failed to outperform the Russell 2000 ($IWM)](https://blog.syzgroup.com/hubfs/10-Jan-23-2026-10-05-28-9225-AM.jpg) 23 Jan 2026 - - - #### That was just another new low today for the Nasdaq100 relative to the Russell2000 small-caps. Look at that collapse since last summer Source: J-C Parets [#equities](https://blog.syzgroup.com/syz-the-moment/tag/equities) ![That was just another new low today for the Nasdaq100 relative to the Russell2000 small-caps.](https://blog.syzgroup.com/hubfs/7-Jan-23-2026-09-59-08-8704-AM.jpg) ![That was just another new low today for the Nasdaq100 relative to the Russell2000 small-caps.](https://blog.syzgroup.com/hubfs/7-Jan-23-2026-09-59-08-8704-AM.jpg) 23 Jan 2026 - - - #### Everyone’s Winning. 63% of S&P 500 stocks are beating the index YTD (from NDR, as of Jan 14). This is the best market participation since 2001. As of yesterday’s close, this number is now up to 65% the second best in 50 years. \*Will the market’s strength continue? Source: Macro Charts @MacroCharts NDR [#equities](https://blog.syzgroup.com/syz-the-moment/tag/equities) ![Everyone’s Winning. 63% of S&P 500 stocks are beating the index YTD (from NDR, as of Jan 14).](https://blog.syzgroup.com/hubfs/2-Jan-23-2026-09-36-10-7523-AM.jpg) ![Everyone’s Winning. 63% of S&P 500 stocks are beating the index YTD (from NDR, as of Jan 14).](https://blog.syzgroup.com/hubfs/2-Jan-23-2026-09-36-10-7523-AM.jpg) 23 Jan 2026 - - - #### Institutional investors sold -$9.2 billion in US equities last week, marking the 5th straight week of selling. They dumped -$8.1 billion in single stocks and $1.1 billion in ETFs, bringing the 4-week average to -$3.5 billion. On the other hand, hedge funds bought for a 5th consecutive week, while retail investors bought for the 2nd straight week. As a result, net selling rose to -$6.3 billion, from -$2.6 billion in the prior week. Source: BofA, Global Markets Investor [#equities|](https://blog.syzgroup.com/syz-the-moment/tag/equities) [#United States](https://blog.syzgroup.com/syz-the-moment/tag/united-states) ![Institutional investors sold -$9.2 billion in US equities last week, marking the 5th straight week of selling.](https://blog.syzgroup.com/hubfs/1-Jan-23-2026-09-31-50-2854-AM.jpg) ![Institutional investors sold -$9.2 billion in US equities last week, marking the 5th straight week of selling.](https://blog.syzgroup.com/hubfs/1-Jan-23-2026-09-31-50-2854-AM.jpg) 22 Jan 2026 - - - #### The "Great SaaS Meltdown" is here For over a decade, tech rewarded growth over profits. That model no longer works. AI has fundamentally altered the risk calculus. High-growth, low-profit SaaS is now a liability, not a promise. AI-native competitors can undercut costs and reach scale faster, threatening legacy products before they ever achieve profitability. What once looked like a long runway now looks like a race against displacement. Investors are adapting accordingly. In private markets, VCs are pulling back from funding growth without durable moats. In public markets, profitability is no longer assumed—it must be visible and resilient. Capital is shifting from ambition to efficiency. The takeaway: selling the future is no longer enough. In an AI-native world, efficiency and resilience are prerequisites for survival. Source: Chamath Palihapitiya on X (@chamath) [#equities](https://blog.syzgroup.com/syz-the-moment/tag/equities) ![The ](https://blog.syzgroup.com/hubfs/10-Jan-22-2026-03-14-33-2554-PM.jpg) ![The ](https://blog.syzgroup.com/hubfs/10-Jan-22-2026-03-14-33-2554-PM.jpg) 22 Jan 2026 - - - #### 20 days into 2026 and the Dalio playbook is already crushing Metals, Defense, EMs, Europe outperforming. US stocks and long bonds lagging. Source: TrendSpider TrendSpider LLC [#equities](https://blog.syzgroup.com/syz-the-moment/tag/equities) ![20 days into 2026 and the Dalio playbook is already crushing](https://blog.syzgroup.com/hubfs/9-Jan-22-2026-02-11-01-9760-PM.jpg) ![20 days into 2026 and the Dalio playbook is already crushing](https://blog.syzgroup.com/hubfs/9-Jan-22-2026-02-11-01-9760-PM.jpg) ❮❮ [❮](https://blog.syzgroup.com/syz-the-moment/tag/equities/page/83) [82](https://blog.syzgroup.com/syz-the-moment/tag/equities/page/82) [83](https://blog.syzgroup.com/syz-the-moment/tag/equities/page/83) [84](https://blog.syzgroup.com/syz-the-moment/tag/equities/page/84) [85](https://blog.syzgroup.com/syz-the-moment/tag/equities/page/85) [86](https://blog.syzgroup.com/syz-the-moment/tag/equities/page/86) [❯](https://blog.syzgroup.com/syz-the-moment/tag/equities/page/85) [❯❯](https://blog.syzgroup.com/syz-the-moment/tag/equities/page/312?hsLang=en) ## **Thinking** out loud Sign up for our weekly email highlighting the most popular posts. 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