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• MoneyBond yields are high. Tech stocks are still breaking records. That is not as contradictory as it looks.Higher long-term interest rates usually make distant future profits less valuable. Yet AI-linked technology shares have kept climbing. The reason is that markets price several forces at once: rates, earnings, growth expectations and risk.
• MoneyBrazil voted on Sunday. Markets voted on Monday.Flávio Bolsonaro led Brazil’s first-round presidential vote 47% to 45% over Luiz Inácio Lula da Silva. The next trading session, Brazilian stocks surged. The useful question is not which candidate markets ‘like’. It is which policy probabilities investors suddenly changed.
• ExplainedCountries keep emergency oil underground for moments exactly like this.The IEA is discussing another coordinated release of oil and diesel stocks as energy markets face supply disruptions. Strategic reserves exist to buy time during severe shortages, not to make fuel permanently cheap.