We are at a tipping point - which way do we tip?

Another ugly day on the US markets as the AI bubble focus heats up and key names are bleeding, from Nvidia and Palantir to Meta and Oracle. With VIX near pivotal levels, it feels like we need to find support here or risk a further and possibly accelerating consolidation in this bull market. That's important for other markets as well, as bond and FX markets have shrugged off the volatility in risk assets so far but can't remain immune to the contagion if risk sentiment deteriorates further. This and more discussed on today's pod, which features Saxo Global Head of Macro Strategy John J. Hardy.

Links discussed on the podcast and our Chart of the Day can be found on the John J. Hardy substack (within one to three hours from the time of the podcast release).

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