russellclark

Wafer stocks have been pulverised with other AI names... and yet data is still good. Formosa Sumco monthly data is rising strongly, and the divergence with Sumco is getting wider...

I thought we were due some consolidation in yields - but hot CPI has pushed yields back up. If we break to new highs, market could get disorderly....

Cant help but feel the surge in mortgage rates is bad news for home builders...