Global bonds are under heavy pressure. The US 10-year yield touched its highest since 2023. UK borrowing costs hit their highest since 2008. Japanese yields reached peaks not seen since the 1990s. Rising energy prices are adding fuel — European gas hit a three-year high. The bond sell-off is tightening the screws on high-multiple tech stocks. Options traders in NVDA and MU are already pricing in a reversal, with bearish flow dominating both names despite NVDA being up 20% year-to-date and MU surging 235%.
Short sellers are not standing down. CHWY short interest jumped 4.5 points in a week to 50.75% of free float. WOLF sits at a punishing 76.3% — up another 2.7 points. Semiconductor stocks are bearing the brunt of both short pressure and the rate-driven options selloff.
Analysts made sharp calls on Thursday. Three firms — Rosenblatt, BMO, and Cantor Fitzgerald — all raised targets on in a single session, lifting their marks to $575–$600. got the opposite treatment. Rothschild downgraded it to Sell and cut the target from $81 to $40.
On the insider front, Bill Gates's vehicle filed $544M in open-market buys of RSG over two weeks. An NVIDIA director disclosed over $400M in sales across the same period.
European stocks slid broadly but defence names outperformed. Ukraine ratified a $105 billion EU loan deal, boosting BAB and sector peers. CHG also caught a bid. UK utility names lagged as gilt yields surged. California utilities PCG, EIX, and SRE saw analyst target cuts stateside amid the broader rate pressure.
Oracle and Adobe both report after the bell on September 10. Combined market cap: over $530 billion. AI infrastructure spending and margin pressure from creative AI tools will dominate both calls.
ORTEX Market Intelligence content is generated by AI from a snapshot of ORTEX's proprietary data. Content is informational only and does not constitute investment advice.
