NVDA Earnings Smash with AI taking center stage... But are we missing anything?

Today was one of the most interesting days with regard to MANY assets and general market price action. Many numbers went up… but is that a good thing?


Most notably, of course, was Nvidia’s blow out earnings, catapulting the stock to new all time highs amidst the ‘most uncertain macro backdrop in decades.’ NVDA’s stellar announcement was in large part driven by the emergence and acceleration of AI use-cases (as NVDA is uniquely poised to benefit given its stranglehold over the GPU market).


We have even seen the spill-over effects of the AI Hype train reach crypto in names like RNDR. And while many stonks and crypto assets have moved higher over the last several weeks and into this historic earnings event, some other things are moving higher, too.


We are seeing yields creep higher, with the 2YR reaching for the highs printed during the onset of the 2023 Banking Crises a few short months ago.


Unsurprisingly, 10Yr Yields are also moving back towards their their previous highs.


And finally, we have the DXY rebounding off of the 100 handle. Watching meme coins and high beta risk assets continue to go parabolic with no mention or worry in sight of yields and dollar strength rising has given me an uncertain feeling.


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