Tech Wreck Trumps Iran Deal Optimism; Bitcoin & Bullion Bid Into Big Week

www.zerohedge.com

premium-contentPremium

PREMIUM


ONLY $30/MONTH

BILLED ANNUALLY OR $35 MONTHLY

All BASIC features, plus:

  • Premium Articles: Dive into subscriber-only content, market analysis, and insights that keep you ahead of the game.
  • Access to our Private X Account, The Market Ear analysis, and Newsquawk
  • Ad-Free Experience: Enjoy an uninterrupted browsing experience.

PROFESSIONAL


ONLY $125/MONTH

BILLED ANNUALLY OR $150 MONTHLY

All PREMIUM features, plus:

  • Research Catalog: Access to our constantly updated research database (including hedge fund letters, research reports and analyses from all the top Wall Street banks)

Tl;dr: Any tailwinds from lower oil prices (US-Iran deal progress) were quickly eviscerated by Tech weakness ('cheap' China/Japan models and DeepMind departure, and SaaSpocalypse 2.0). Bond yields (higher) also ignored lower oil (heavy IG calendar), helping dollar gains. Bitcoin and bullion gained on the day.

As Goldman's Chrish Hussey noted, markets adopted a defensive posture on Monday as they revisit the AI trade and contemplate the evolving geopolitical landscape following a long weekend in the US.

Oil