there’s blood on those screens it’s visceral and it’s vicious whatever way you look at it there has been Mayhem this morning I came in at 3:00 a.m. the market was dying 6 and a half% on the NASDAQ that has improved ever so slightly but Wall Street is getting going look at this uh there may be a delay to one of the big AI chips in Nvidia the stock is down 14% Bank of America down 8% you’re seeing a vicious sell off across the Spectrum Banks oil massive Tech so what is the bond market telling you what changed so materially from last week to today after non F perils growth scare fed behind the curve twoyear notes gone by over 60 basis points so this leg lower in yield can only be extended with a Fed cut probabilities of an intered cut interfer meeting cut 60% when I walked in at 3:00 a.m. down to 30% now the market is baying for 50 basis points in September but nothing will stabilize until the carry trade stabilizes yen is up by another 3%