MACRO WEEKLY: 10-YEAR YIELD HITS 5%: WHAT IT MEANS FOR THE AI TRADE

The market has not yet priced in the risks of over-collateralized AI chip loans, credit tightening, and inflation.

The market has not yet priced in the risks of over-collateralized AI chip loans, credit tightening, and inflation.

The status quo:

Credit Risk is underestimated and there are three independent signals proving this. The rest of market and index just hasn’t caught up.

And that’s where true ALPHA is hiding.

The Fed hiked 25bp and the 10-year closed at 5.01%, w…