Trump/Xi are meeting today 🇺🇸🇨🇳 Let's see if this has any market impacts especially for AI names, but ultimately for stocks to have a clear path higher, oil and yields really need to stabilize... Yesterday was a story of US/Euro PMIs and no movement on the US/Iran deal. Both resulted in bond yields rising yet again with the 10Y currently at 5.10%, and stocks finishing lower on the day. However, I think the sheer speed of the rates move is now the core issue. The 10Y is up ~25bps in two weeks and ~35bps in the past four weeks. This is the point where stocks usually start to see some kind of impact... That said, it's important to look at how healthy corporate financials are right now (look at the balance sheets for the big companies) - so I think we'll need many more hikes to have a huge negative impact on the stock market. Odds are increasing that the Fed will hike again next month 😃 Muse had a relatively short impact on the market on Monday w/ CPU names like Intel and AMD up a fair bit. I feel like this has been exhausted now -- time for macro to take the reigns yet again. For now...let's see what comes out of the Trump/Xi summit.