In case you missed it... US MegaCap Tech is facing its worst month since April 2022
(and 3rd worst month ever)... Source: zerohedge
BREAKING: OpenAI advisers are pushing Sam Altman to delay its IPO until next year, per New York Times
Advisers have reportedly cautioned that OpenAI could suffer from a lack of enthusiasm from retail investors. Source: Trend Spider, NYT
Leveraged ETFs are no longer a niche product.
US-listed funds now hold around $200 billion in assets, equivalent to roughly $400 billion of market exposure, while trading volumes are running about 50% above last year's record pace. Market structure increasingly matters. Source: TME, JP Morgan
The U.S. just doubled down on quantum.
President Trump signed two executive orders to accelerate U.S. quantum technology and strengthen cybersecurity. The initiatives aim to develop a research-grade quantum computer by 2028, deploy quantum sensors and networks within five years, expand workforce training, and secure domestic supply chains. Federal systems are set to transition to post-quantum cryptography by 2031. These measures follow $2 billion in investments across nine quantum companies. The strategy highlights quantum technology’s growing importance for economic competitiveness, cybersecurity, national security, and global technological leadership.Source: Bull Theory
What a turnaround for Fed rates expectations (as implied by Futures). From projecting 6 cuts in September to 2 hikes now
Note that it didn't prevent equities to surge... Source: zerohedge, Bloomberg
There is now a 38% chance of a rate hike at the July FOMC and a 0% chance of a rate cut
Source: Barchart
Big shift in Fed dot plots with the median member now forecasting 1 rate HIKE this year when previously they were forecasting 1 rate CUT. (Clone)
The stock market may not like it but this is the right move if the Fed wants to regain any credibility as an inflation fighter. Source: Charlie Bilello @charliebilello
Big shift in Fed dot plots with the median member now forecasting 1 rate HIKE this year when previously they were forecasting 1 rate CUT.
The stock market may not like it but this is the right move if the Fed wants to regain any credibility as an inflation fighter. Source: Charlie Bilello @charliebilello