WTF is going on with the markets right now.
One minute we are close to WW3, $SPY (-1.35%) is falling and $XOP (+2.58%) is rising on oil panic.
Then suddenly there is a ceasefire, ineffective negotiations, the Strait of Hormuz stays open and everything just rockets.
Risk on like nothing even happened.
$MSFT (-1.82%)
$AAPL (+0.25%)
$NVDA (-1.52%)
$GOOG (-2.22%) $MSFT, even low quality Private credit BDC companies like $FSK (-3.97%)
$OCSL (-2%)
$TPVG (-1.75%) are all flying again.
Feels like the market is swinging between extremes with no middle ground. One headline equals panic, the next headline equals straight back to highs.
Are we actually pricing risk anymore or just reacting to headlines in real time?
Or is anyone else selling into this strength like i am?
