---
title: "Momentum Melts Up For Best Day On Record; Bonds Dumped As Everything Else Pumped"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/293380259.md"
description: "Markets experienced a record-breaking day as equities surged while bonds were sold off. Traders rotated back into semiconductor and momentum stocks, driving the Nasdaq to significant outperformance ahead of mega-cap earnings. Despite tariff tensions and escalating geopolitical conflicts in the Middle East and Black Sea, which boosted gold, bitcoin, and oil prices, equities decoupled from traditional bond-oil correlations. The dollar strengthened, and bond yields hit two-month highs."
datetime: "2026-07-21T20:01:54.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/293380259.md)
  - [en](https://longbridge.com/en/news/293380259.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/293380259.md)
---

# Momentum Melts Up For Best Day On Record; Bonds Dumped As Everything Else Pumped

_**Tl;dr:** The 'great rotation' & 'broadening out' narratives took a beating today as **traders dived aggressively back into the Semis/Momo stocks**, lifting Nasdaq to notable outperformance (**record momo meltup** ahead of Mega-Cap earnings). **Tariff tensions were shrugged off** (CAD weaker but inflation fell too) as the dollar ripped higher. **Gold, bitcoin, and oil all rallied** notably as Mideast (and Black Sea) attacks escalate (and spread regionally), **lifting rate-hike odds and bond yields**(to 2mo highs)._

Equities notably decoupled from the bond-oil couple today...

## Oil

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