★ Yields have "settled in" above 5.1%. The 10-year hit 5.17 to 5.18% intraday (highest since 2007) and closed near 5.11 to 5.12%, roughly unchanged. The 30-year touched 5.47% (highest since 2004). Japan's 10-year hit its highest since 1996, Germany's since 2009. This is a global bond sell-off. ★ Stocks erased the morning's losses on…
★ Tokyo beat the bond selloff, but narrowly. Nikkei 65,647 (+0.97%), intraday high 66,249. The TOPIX slipped to about 4,084. A few chip stocks made the gain. ★ The truce extension is official. It is also only two months. Treasury Secretary Bessent: expiry moves from Nov 10 to Jan 10. Markets expected six months or…
On the first night Seoul was closed, the US 10-year Treasury yield crossed a line it had not crossed in 19 years. The 10-year closed at 5.11%. Intraday it touched 5.13%, the highest since July 2007, a jump of more than 13 basis points in a single session. Four things hit at once: the hottest…
KOSPI 7,080.92 (+0.90%), fourth straight gain — but it opened at 7,153.99 (+1.94%) and gave back 73 points. KOSDAQ 844.48 (+1.21%). ★ The checkpoint I called most important last night failed. Foreigners did not buy for a fourth day; they flipped to net selling of about 505 billion won. Facing a four-day gap and a…
Last night moved drawers, not indexes. S&P 500 7,764.64 (−0.06 pts, flat) · Dow 51,863.69 (−0.36%) · Nasdaq 27,244.28 (+0.45%, second straight record close). But underneath: Micron +5.02%, SanDisk +6.82%, SK Hynix ADR $195.40 (+3.46%). ★ Yesterday's checkpoint #4 hit. I asked whether Micron would catch up to the CPU names. It rose 5.02% —…
The KOSPI opened +2.20% and closed +0.15%. Open 7,161.61, high 7,171.44, close 7,017.91 — 153.53 points given back from the high. The KOSDAQ actually fell, to 834.38 (−0.23%). ★ Yesterday's first checkpoint missed badly. I had asked whether SK Hynix would outperform Micron's +2.77%. SK Hynix fell 1.50% — a 4.27 percentage point gap. Last…
The Nasdaq Composite closed at a record 27,122.09, up 2.26% — its first record close since June. S&P 500 7,764.70 (+1.49%), Dow 52,048.83 (+0.71%). Best session since early August. ★ SOX rose 4.29%, but the internals split. Intel +12.14% · AMD +9.95% · Arm +17.2% versus Micron +2.77% and Nvidia +2.30%. CPUs led; memory only…
Oil has fallen for four straight sessions. WTI October $98.33 (−1.96%), Brent November $102.09 (−1.71%). Europe's STOXX 600 is +0.8% with tech up about 2%. ★ What is different from three sessions ago: the bond market came along. The US 10-year sits near 4.97%, below Friday's 5.01% close. Gold is −0.73%, and European energy is…
The Fed hiked and promised more. A unanimous 12–0 vote took the funds rate to 3.75–4.00%, the first hike since July 2023. Median dot for end-2026: 4.1%; for end-2027: also 4.1%. By the test we set on 9/16, that means one more hike. Stocks reversed within a day. After the Dow fell 1.2% on Fed…
The KOSPI rebounded after four straight down days, closing at 6,717.97 (+90.71, +1.37%). Domestic institutions bought 1.21 trillion won, concentrated in chips. Samsung Electronics closed at 253,500 won (+2.01%) and SK Hynix at 1,759,000 won (+4.08%). 🔴 Foreign investors sold for a sixth straight session, 1.68 trillion won. The won fell another 9.2 to 1,368.6/USD….