Today we look at yesterday's ugly session for tech and AI-related stocks, noting the follow on action once again in Asia overnight as well, all while the median stock was almost unchanged on the day. Elsewhere, we note US treasuries opening up heavily bid after the bank holiday and wonder whether US treasuries are suddenly serving their traditional role as a safe haven again. This and much more on today's pod, which is hosted by Saxo Global Head of Macro Strategy John J. Hardy.

Links

John's The FX Trader piece from yesterday.
A WSJ long read looks at the risk of a lost generation in China on the weakening economy there.
KKGB's 38-part thread that tries to pick apart the AI bull case, (you have to click around to find the entire thread).
Reuters story looks at the US auto loan market, noting record high defaults and the extension of financing on very old cars.
A hilarious AI-generated parody of a "MarsX colony" on the red planet.

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Are treasuries a safe haven again or is that too crazy a notion?

Saxo Market Call

Are treasuries a safe haven again or is that too crazy a notion?