KOSPI Drops 1.98% as Foreigners Sell $1.94bn
Retail is the only thing holding up the KOSPI https://t.co/xI41Z1s5Ye
@joemccann
Morgan Stanley: AI CDS basket trades ~45bp wider than CDX IG
MS says buying CDS protection "remains our preferred way of playing the AI story in the credit derivatives market."
The reason is not just a bearish default call.
MS expects "increasing...
10/8/2026 04:09
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Hedge what’s actually falling - AI stocks
SPXXAI March 85% put costs 132bps vs 101bps for SPX equivalent
The 6th percentile on a 2-year lookback is the basis for that cheapness.
Downside protection on the S&P excluding AI stocks, which has fa...
10/8/2026 03:53
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@joemccann
Citadel Securities: token price fell more than half but Azure AI token consumption is up ~4.5x
Effective access per dollar is actually worse, not better.
This is as a demonstration of why cheaper intelligence need not mean a smaller compute bill.
...
10/8/2026 01:48
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@joemccann
Gold call positioning is 3x average, and it triples the price impact of physical demand
@GoldmanSachs has net call open interest holding near 2.3 million contracts.
Normally 100 tonnes of conviction demand moves gold about 2%. https://t.co/QZ6F2Vhl...
10/7/2026 23:44
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Gold fell >8% in September while ETF inflows hit 70t: a combination never previously observed since January 2004 https://t.co/Cd3gRdYtjv
10/7/2026 21:12
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@joemccann
2027 AI capex estimates doubled since November
@MorganStanley has revised AI capex estimates "sharply higher in every year," with 2027 ballooning from $687bn to $1.384tn and 2028 from $763bn to $1.547tn versus the Nov-2025 numbers.
GOOGL at $400bn ...
10/7/2026 21:08
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@joemccann
The Stagflation factor is rising almost vertically, similar to 2022
The tech rally has a macro risk sitting underneath it.
At the same time, credit spreads have widened only modestly relative to prior episodes, while economic growth surprises have ...
10/7/2026 21:02
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@joemccann
$CRWD at roughly 40x forward EV/sales, near the 2020/21 extremes.
Back then the 10-year was around 1%. https://t.co/H6DAXX9Jnn
10/7/2026 20:06
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@joemccann
Thanks for playing 🎯
💸 Closed $CRWD Bear Put Spread 10/16 (Short $250 Put / Long $270 Put)
+109.00%
Held 1 day
Executed with Radon
https://t.co/9uCIJqaG74 https://t.co/IhAfMjtB6X
10/7/2026 18:48
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@joemccann
$META bear flag breakdown https://t.co/Sk7kdjZxY0
10/7/2026 13:55
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Bridgewater founder Ray Dalio warned AI is a "classic bubble" nearing a burst, driven by rising interest rates and investors' demand to cash out wealth.
Now do China, Ray
10/7/2026 04:23
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