Tech shares came under pressure this week, with the sell-off gaining steam on Friday following a much stronger-than-expected US payrolls report. Yields moved higher across the curve, oil was higher, and Bitcoin faltered. Much of this was driven by higher inflation expectations and a lower likelihood that the Fed will cut rates in the foreseeable future.

I started penning this update with my recurring rant about the antics of the Trump Administration. The daily “war is over” rhetoric coming from the leader of the free world is super-annoying, especially since Iran and the U.S. remain more or less deadlocked, with the Strait of Hormuz closed and no oil flowing through it. But does this really matter anymore, at least to investors? Yes, higher oil prices are hurting consumers (see “Consumer confidence” below) and will rev

The FOMC fell in line and served up an expected "hawkish rate cut". However, both Oracle and Broadcom – key players in the A.I. boom – saw their shares sink for different reasons, with the common denominator being A.I. valuation concerns. Yields were higher and gold rallied.

[GO STRAIGHT TO THE TABLES] We’re now into August, a normally lower-volume month, and often not the best month for equities. The table...