Chip stocks are more volatile than Oil
I continue to start the day by looking at these two charts: US crude & Kospi.
The former is extending gains, trading above $86 per barrel for WTI and $92 per barrel for Brent, while the Kospi is up more than 4.5% at the time of writing, led higher by Korean chipmakers (of course!) following a similar jump in VanEck's Semiconductor ETF yesterday.
It’s funny that chip stocks are more volatile than oil these days, even with escalating geopolitical tensions rattling the energy supply outlook from the Middle East and Russia, creating enormous uncertainty about any near-term resolution to the conflicts, fueling inflation expectations, encouraging investors to pile into the short end of the yield curve and pushing longer-term borrowing costs higher.
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Author
Ipek Ozkardeskaya
ipekScope
Ipek Ozkardeskaya began her financial career in 2010 in the structured products desk of the Swiss Banque Cantonale Vaudoise. She worked in HSBC Private Bank in Geneva in relation to high and ultra-high-net-worth clients.
