◢ Re-poster

Some light reading this weekend.

Thanks @conksresearch

Fuck socialists and communists 🇺🇸

Thanks for playing 🏌🏼‍♂️

💸 Closed $SNDK 9/25 (Short $1750 Call)

+62.46%

Held 3 days

Executed with Radon

https://radon.run

Thanks for playing 🏌🏼‍♂️

💸 Closed $SNDK 9/25 (Long $1700 Put)

+33.03%

Held 3 days

Executed with Radon

https://radon.run

Worst ever sell off…so far.

高收益信用債（$HYG）與標普500（$SPY）相比，過去幾個交易時段一直在急劇下跌。

1M implied IV rank now at its highest level since July 29 2026: 23.2.

Vols are waking up...

@nomura's McElligott writes that model positioning now has G10 bond exposure in the 2nd percentile and STIR exposure in the 3rd percentile, reflecting extremely large shorts.

Any move by @SecScottBessent and the @USTreasury to spook the shorts and there's a monster rally waiting to happen in global bonds.

According to @goldmansachs, the fair value of $VIX here is 25.

The chart shows an inverted $VIX (inverted) against the CTA technical threshold breach.

$VIX is 18.

I'd say that's a mis-pricing worth buying...and I've been saying this (see below).

Realized Vol finally re-coupling with $COR1M for the first time in a long time.

The gap between these 3 volatility gauges, the $VIX, single stock vol, and cross-sector vol, is simply way too wide and it will re-couple.

$USDJPY 1 month vol vs. $VIX

Looks like theres some catching up to do...

US momentum factor GSPRHIMO up 7%, sharply outpacing EU high beta momentum basket which gained less than 3% over 2 days

@GoldmanSachs sales desk flagged a notable factor dislocation on September 9: the US momentum factor (GSPRHIMO) is up 7%, while the comparable EU high beta momentum basket gained less than 3% over 2 days.

That divergence is sharp even accounting for normal US/Europe factor spread. Within the US momentum move, semis are higher and software is lower, suggesting the rotation is sector-specific rather than a broad risk-on lift.

The EU momentum basket's relative underperformance over the same window suggests the factor catch-up is a US-specific dynamic rather than a global reflation trade.

@博通 重申 FY27/FY28 AI 收入目標 1150 億美元/2300 億美元，因限制因素從需求轉向電力和審批許可。

在 2026 年 9 月 9 日舉行的 @高盛 Communacopia Technology Conference 第 1 天，博通（Broadcom）CEO 霍克·譚（Hock Tan）重申 FY27/FY28 AI 收入目標：1,150 億美元和 2,300 億美元。

信息要點：現在需求不再是問題。限制已明確轉向實體基礎設施，具體包括電力、審批許可以及數據中心建設時間表。

@openai token spend percentage on @vercel Gateway now printing its second highest level ever and rising...

After the midterms we rip and re-gross.

全球人工智能收入增長簡直驚人。

“截至8月底，我們對AI經濟的收入估算已實現年化2290億美元——在一年內增長了3.5倍。增長勢頭強勁。

上月，過去12個月的收入達到1400億美元，是2025年8月440億美元的3.2倍。”

$VVV 另一個簡單好短。

Eaton US Data Center Backlog Grows to 307 GW, or 15 Years of Build Backlog at 2025 Rates

Eaton Corp reported that its total US data center backlog has grown to 307 gigawatts, equivalent to 15 years of backlog at 2025 build rates, up from 12 years in its last update.

Only roughly 20% of this backlog converts near term, with the majority translating to 2028 and beyond deliveries.

Source: @UBS

Imagine fading @SecScottBessent