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BoAFMS : Gold undervalued / AI credit risk UP on AI spend / KOSPI ⏬⏬11%, chip rout continues / Iran : 150 days..

  • sc0172
  • 13 minutes ago
  • 2 min read

  • Chipmaker valuations are now higher than they were at the peak of the dot-com bubble. AI may be revolutionary, but the price you pay still matters (chart available on request)

  • Prices for credit default swaps for corporate debt tied to Oracle, SpaceX, Alphabet, Amazon, Meta, Broadcom and Nividia have risen to record highs in recent days according to LSEG data (FT)

  • Iran updates : The U.S.-Iran war-cease-fire-MoU-war-again-de-facto-ceasefire has gone on now for 150 days...Brent fell below $88 after Donald Trump said US and Iran are engaged in talks,

  • Markets : Big Tech credit risk gauges climb as AI investment costs surge (chips & KOSPI sharply down overnight again, Nvidia has signed leases worth up to $50B for a massive Texas data centre, a previously undisclosed commitment, #US IMM Speculators are now the most bullish on the U.S. Dollar in more than a decade >>> momentum change, CTA's turning sellers!, QQQ struggling, chips rout could well continue (see valuations levels..), KOSPI giving back its crazy up moves from Q2 (what else..), watch yields after Warsh in his 2nd FOMC meeting, long-end7duration/credit etc..

  • GOLD : BoA's fund manager survey : for the first time in years, fund managers see Gold as undervalued, Most institutional investors still do not hold a strategic long-term allocation to gold.. (chart available on request)

  • The 30-Year US Treasury Yield ended last week at 5.17%, its highest weekly close since July 2007, on to Mr Warsh tomorrow to try to convince the market that 'inflation is low'..









































 
 
 

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