The news of China's DeepSeek AI model suddenly gained critical mass at the weekend and triggered an avalanche of selling across the incumbent AI space as the implications of this possibly profound disruptor became clearer. Across the board deleveraging, with special intensity in AI-related tech names is the order  of the day as bonds found a safety bid and the JPY did likewise. 

On today's podcast were John J. Hardy, Chief Macro Strategist and Ole S. Hansen, Head of Commodity Strategy.

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