QCP: Bitcoin tracks tech stocks as AI infrastructure credit stress spreads
- —CoreWeave bond yields climbed to 15% while its shares fell 10%
- —French 10-year yields topped 5%, with the spread to German bunds widening to 170 bp
- —Brent and WTI crude hit five-month highs amid Middle East tensions
- —December Fed rate-cut expectations weakened; an October hike is now seen as off the table
Why it matters: Rising funding costs for AI infrastructure weigh on tech stocks, and bitcoin is currently trading in tandem with them rather than as an independent asset.
Source: Bloomingbit