Michael Hartnett at BofA has gone gaga for dirt.
Zeitgeist: “We present at the trade shows because customers want to see you using AI. Can’t figure out how to make any money with it, though.”
The Price is Right: big support levels held in August…3.8% GT10, 4.0% GT30, 100 DXY,140 USDJPY, $70 oil, $60k Bitcoin; reversal higher in bond yields likely on positioning (big UST inflow this wk), policy (Fed= priced in), seasonality (big Sep supply), geopolitics (no oil risk premium), protectionism; if ISM >49 then GT30 >4.3%..better Q4 opportunity.
