Premium'Elice' Crash Vs 'Compromise' Dash: Crude & CoreWeave Battle In 'Squeezy' Tape
Tl;dr: What started as an 'Anything but AI' day after Korean Data-Center firm Elice collapsed after IPO, turned into a 'Believe in the Weave' day after Iran deal "compromise" headlines sent crude crashing lower and squeezed everything higher (stocks, bonds, gold, and bitcoin all ripped). The inevitable deal denial wiped some lipstick off those pigs though (yields back up despite ugly housing data as oil rebounded, NDX ended red) and the dollar and gold both fell on the day.
The AI funding crisis remains (data-center CDS spreads hit a new record high), but tumbling oil prices briefly beautified the beasts...