Playback speed×Share postShare post at current time0:00/Paid episodeThe full episode is only available to paid subscribers of Navigating The MarketSubscribe to watchThe Semiconductor Unwind Continues, And CDS Spreads Suggest It Isn't Over Michael J. KramerJul 28, 2026∙ PaidShareThis post is for paid subscribersSubscribeAlready a paid subscriber? Sign inNavigating The MarketSubscribeAuthorsMichael J. KramerRecent PostsCredit Keeps Repricing The AI Complex As The Market Rotates From Semis Into SoftwareJul 27 • Michael J. KramerMegaCap Options Positioning PreviewJul 24 • Michael J. KramerRising Real Rates Do The Tightening - Advanced TopicsJul 24 • Michael J. KramerRates Are Rising Globally As Dollar Breaks Out, and Stocks SinkJul 23 • Michael J. KramerNVIDIA Props Up The Index While CDS Spreads Widen Across The AI Names Jul 22 • Michael J. KramerSemis Power A Lopsided Rebound As Rates And The Dollar Push Higher Jul 21 • Michael J. KramerEnergy And Software Sectors Near BreakoutsJul 20 • Michael J. Kramer