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ECB Hikes, BoJ Hikes — The Fed Is Alone
Macro

ECB Hikes, BoJ Hikes — The Fed Is Alone

Global central banks are fracturing. ECB raised 25bps June 11, BoJ hit 1.0% in June. The Fed is frozen. Dollar and sovereign spreads are the trade.

Jun 25, 2026

SMH's 7% Crash: What Semis Tell You Now
ETFs

SMH's 7% Crash: What Semis Tell You Now

VanEck's SMH semiconductor ETF dropped 7% Tuesday. Here's what the violent selloff means for XLK, IGM, and your chip exposure heading into Q3.

Jun 25, 2026

SMH's $14B Swing in Five Days
ETFs

SMH's $14B Swing in Five Days

VanEck's semiconductor ETF SMH surged $6.9B in a single session on June 18, then shed $7.19B on June 23 — the sharpest five-day flow reversal in sector ETF history.

Jun 24, 2026

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