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- standardOct 18, 2026
Credit Prices the AI Unwind as SPX Slips Under Its Gamma Flip
CoreWeave CDS widened above 1,000bp and high-yield spreads reached 3.23%, pressuring neocloud names as semiconductors logged an eighth straight loss. The VIX jumped 21.45% to 19.99, breaking an 18-month downtrend,…
- standardOct 16, 2026
Rotation, Not Retreat: Chips Sell a TSMC Beat as Bonds Buy a Hot PPI
The market is rotating out of AI hardware names like Nvidia and TSMC, even as TSMC reported a record beat-and-raise, while health care and beaten-down software led the index higher. Bonds are pricing a growth scare…
- standardOct 15, 2026
Hiking Into an AI Slowdown: The Curve Flattens, Korea Trips Its Breaker
The market is pricing an AI-growth scare and fear of a policy mistake, with hot September core CPI acting as a trigger. Debt-funded AI infrastructure names like CoreWeave and Oracle sold off sharply, while memory…
- standardOct 14, 2026
China's DRAM Claim Breaks Memory Again; Cash-Rich AI Bid, Debt-Funded AI Sold
CXMT's claim to ship denser 4F² DDR5 by year-end pressured memory stocks for a second day, with SK hynix and Samsung falling in Seoul and Micron declining. The AI trade is diverging by funding source, as CoreWeave…
- standardOct 12, 2026
Oil Fades on Trump's Midterm Pledge; the AI-Capex Trade Cracks in Seoul
Brent crude fell after Trump's pledge not to strike Iran before midterms, while defensive sectors led the S&P to a record high. The AI capex trade is breaking down independently, with semiconductors lagging and AI…
- standardOct 9, 2026
OpenAI Revenue Reset Unwinds the AI Chain; Software and Energy Catch Bids
A report that OpenAI's annualized revenue is ~$50B rather than ~$70B triggered a selloff in AI capex-linked names including Oracle, CoreWeave, Nebius, Broadcom, and memory stocks. The report attributes the gap to…
- premiumOct 8, 2026
Oil and a 2002-High 10Y Squeeze a Narrow Tape; Memory Prints Split MU, Hynix
Brent rose above $104 on Iranian tanker attacks while hawkish Fed minutes pushed the 10-year yield to 5.36%, its highest since 2002. Rate-sensitive sectors and small caps weakened, with the Russell 2000 falling below…
- premiumOct 7, 2026
$100bn of Borrowed AI Compute Lifts Marvell, Neoclouds and Nuclear; Memory Sold
The S&P 500 is retesting its all-time high as the market rally shows signs of fatigue. An equal-weight basket of AI drug discovery stocks fell 13.3%, signaling a potential momentum unwind. The portfolio exited 16…
- premiumOct 5, 2026
AI Build-Out Widens to Memory Test, Optics, GPU Rental; Bonds Stuck
The AI build-out widened to memory test, optics, and GPU rental, with TER, LITE, and NBIS rallying. Bonds failed to rally on a weak 29k payroll print even as October hike odds collapsed. Oil remains the core issue but…
- standardOct 2, 2026
Memory and Optics Lead as Bond Rout Bull-Steepens
Hardware vendors led as Micron's supply lock-in and Korea's record chip exports lifted memory and semicap, while Bernstein initiations boosted optics. The 10Y touched its highest since 2002 before bull-steepening, and…
- premiumOct 1, 2026
AI Stack Split: Gemini 4 Argon, Fed Independence, and Memory Consolidation
Google's Gemini 4 Argon launch prompted a rotation within AI, favoring application software over inference silicon and boosting Intel on agent server-CPU demand. Meanwhile, markets are pricing Fed independence concerns…
- standardSep 30, 2026
AI Buildout as Contracted Spend; Narrow Bid Amid Breadth Washout
The White House superintelligence accord, OpenAI's DevDay rate-limit cuts and Anthropic's prospectus turned the AI buildout into contracted, policy-blessed spend, with power, optics and semicap outperforming while the…
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