Treasury doubled its long-bond buybacks on Wednesday and the market unwound the entire move by Thursday’s close, leaving the S&P 500 down 1.43% and both yields higher on the week. The chip complex fell roughly 5.5% twice in three sessions, Intel -12.13%, while Merck added 12.30% on the first positive Phase 3 for an individualised cancer vaccine, making Healthcare the week’s second-best sector. Bitcoin closed +23.18%, gold +5.44%, and Friday’s flash PMI hit a 52-month high.
Tag Archives | US Treasury
MIB Weekly: Treasury’s Backstop Lasted Twenty-Four Hours, Chips Fell 5.5% Twice With 30 of 30 Down, a Tariff Pause Was Never Published, and Gold and Bitcoin Took What Semis Lost
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MIB Daily: The Backstop Lasted One Day, With Volatility Rising Alongside Yields to 5.248%, Walmart Down 9.15% on a Beat, and Memory and Bitcoin the Only Bid Before Warsh Speaks on August 28
Wednesday’s Treasury buyback rally unwound in one session — 30-year back to 5.248%, S&P -0.87%, Dow -1.32%, VIX +7.52%. Bessent promised a bigger program, and “the toughest sanctions in history” on Iran: WTI +2.28%, gasoline a record for the date. Musalem and Daly split on whether the long end is a credibility warning. Walmart -9.15% on a comps miss. Memory bucked the tape again: Marvell +5.79%, Micron +3.97%. Bitcoin +5.07% past $72,000. Canada’s 50% duties attach Saturday with nothing published.
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MIB Daily: The Debt Manager Rescued the Long End, Not the Fed, as Chips Fell 5.6% With 30 of 30 Down and Nebius -9.87% Repriced AI’s Funding End, Leaving Healthcare +3.37% and Metals +3.62% Hostage to Rates
Treasury doubled its long-bond buybacks and the tape turned: 10-year -6.8 bps, dollar -0.86%, gold +3.60%. Not a Fed trade: the July minutes showed several members ready to hike, nobody for a cut, and the market shrugged. Chips fell 5.6% a second day, all 30 down. Merck +12.60% on the first Phase 3 win for a cancer vaccine. Marvell handed Google a $12.2bn warrant; Broadcom paid -4.61%. Canada’s 50% tariffs pause three days; Bitcoin +6.25% on an SEC framework.
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MIB: Record S&P 500, AMD +18.6%, and a Hawkish Fed Pivot — Three Conflicting Signals on the Same Day
Markets hit all-time highs as Iran peace deal optimism crashed WTI -6% and AMD surged +18.6% on blowout Q1 earnings — Data Center +57%, Q2 guide $11.2B vs. $10.5B consensus; S&P +1.46%, Nasdaq 100 +2.09%. NVIDIA reclaimed $5T market cap on a $3.2B Corning optical deal. ADP April +109K sets up Friday’s binary NFP (range: 55K–165K). Fed’s Musalem and Goolsbee both turned hawkish, flagging rate hike scenarios even as oil crashed — April CPI May 12 is now pivotal.
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