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States Sue Trump Over New Global Tariffs: Legal Challenge to Unfair Trade Practices
The ongoing trade tensions between the United States and other countries have taken a new turn, as more than 20 states have filed a lawsuit against President Donald Trump’s latest tariff proclamation. The states are challenging the legality of the tariffs, arguing that they are flawed and violate trade laws. The lawsuit was filed after…
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Selloff Spreads to Treasuries as Economic Data Supports Reflation Narrative
The Treasury market saw a continuation of the recent selloff overnight, with yields across the curve extending their gains from the previous session. The UST complex traded in a 112-24 to 112-09 range before settling near the lows of the day at 112-10, with 10y yields 4bp higher at 4.135%. Meanwhile, 2s10s ended marginally steeper,…
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Oil Volatility Outperforms Gold: A Rare Comparison
As investors seek to navigate the complexities of the global economy, they often turn to traditional safe-haven assets like gold for protection. However, a surprising trend has emerged in recent months: oil volatility has outperformed gold in terms of volatility and year-to-date (YTD) performance. In this blog post, we’ll explore the reasons behind this unexpected…
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Geopolitical Tensions and AI Chip Export Headlines Send Markets Lower, Software Stocks Shine
Markets were down across the board today, driven by continued geopolitical tensions and AI chip export headlines. The Russell 2000 (RTY) was down a significant 265 basis points, while the S&P 500 (SPX) and the Nasdaq Composite (NDX) were down 127 and 120 basis points, respectively. Despite these declines, there were some notable performers in…
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The Uncertainty of Certainty: How the Fed’s June Cut Became a Memory
The Federal Reserve’s decision to cut interest rates in June has become a distant memory, as the central bank’s latest moves have left many wondering if certainty will ever return. Just two weeks ago, the possibility of a rate cut seemed like a foregone conclusion, but now the odds are increasingly against it. In a…
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Market Grinds Higher as Momentum Attempts to Recover
The market has been grinding higher today, with the momentum attempting to recover from its recent decline. Despite the lack of significant news events, volumes have remained moderate but ETFs continue to drive activity. The highest velocity barbells have seen a reversal in their trends, with the KOSPI experiencing its worst day ever and Bitcoin…
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ETF Trading Flows: A Shift in Investor Sentiment?
ETF trading has been exhibiting a unique pattern this week, with volumes dipping significantly on Wednesday compared to Tuesday. According to UBS Securities, flows have become more single-stock focused, indicating a shift in investor sentiment. While activity so far this week has leaned towards the sell side, there are signs of a reversal as accounts…
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KOSPI Volatility Surges to 80, Implying 5% Daily Moves Ahead
The Korean Stock Exchange’s (KOSPI) volatility has taken a dramatic turn, flipping from “spot up, vol up” to “crash down, vol up” overnight. This sudden shift has resulted in a significant surge in the KOSPI “VIX,” which implied roughly 5% daily moves ahead. This level of volatility is extreme for an index, even after the…
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(LDN) Market Drama 101: 4th March 2026
Global markets continue to feel the impact of geopolitical tensions, particularly in the Middle East, as the conflict between Iran and other nations escalates. The KOSPI index in South Korea saw a double-digit percentage drop, triggering a circuit breaker and leading declines among shipbuilders and shipping firms. Meanwhile, Iran has been attacking tankers that ignore…
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Blackstone COO Reiterates Confidence in Business Model Amid Market Volatility
Blackstone’s Chief Operating Officer, Jonathan Gray, appeared on CNBC this morning to reassure investors of the company’s continued confidence in its business model despite recent market volatility. According to Gray, Blackstone’s credit is “fine,” and the company is seeing a rally in alternative assets off the lows. However, there are concerns about liquidity in the…
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