Today, a look at yet another day of US equity market divergences, as the major indices and semiconductors posted an indifferent to slightly negative day while most stocks were up solidly on the day. This rhymes with another market from around the years 2000-01. Also, a look at SpaceX and Netflix earnings and the very different reactions. French yields and much more also on today's pod, which is hosted by Saxo Global Head of Macro Strategy John J. Hardy.

Links

Japan is running short of yttrium as China cuts of supplies, likely on the excuse that Japan is remilitarizing.
A long form debate on the importance and denouement of the massive US current account deficit, the world's most important imbalance.
Someone pokes into how Coreweave's bonds can be under so much strain when it still has over USD 30 billion in equity.

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SpaceX hopes burn bright as huge internal divergences within US market continue.

Saxo Market Call

SpaceX hopes burn bright as huge internal divergences within US market continue.