Rates, Chips, and Fragile Breadth

A lot of this market still looks strong on the surface, but underneath it, the message is a lot less comfortable. Bonds are flashing stress, chip stocks are carrying an awful lot of emotional weight, and traders are getting reminded that liquidity is not evenly distributed.Bonds are setting the toneThe Fed and the cost of moneyLiquidity lives in bonds, not everywhere elseNVIDIA still runs the emotional weatherAI hype is real, but it is not evenly distributedIPO mania and concentrated leadershipVolatility, options, and trading mechanicsCommodities, crypto, and a few side currentsRisk management is the story beneath the storyThis podcast was created with Podkey. Make your own at https://podkey.fm