High yield is at its 52-week low. Equities aren't.

Buy Moody's — More reviews and downgrades mean more fees, making Moody's the only name here paid by credit anxiety rather than hurt by it — +3.1% on the week at 25.6x forward, 11% below its high.

Sell CoreWeave — CoreWeave is the named borrower in WSJ's credit story and has already fallen 23.5% in a week to 3% above its 52-week low, with negative forward earnings offering no valuation floor.

Sell Oracle — Oracle has leaned hardest on debt to fund AI data centres, and at 11.7x forward after -34.5% YTD it's the cheap large-cap expression of the same refinancing fear.

Sell High yield credit — WSJ's credit framing plus Moody's interest-cover reweighting lands on the weakest leveraged issuers, and HYG at $76.86 sits 1% above its 52-week low and -4.7% YTD — widening has begun.

Sell Leveraged loans — Leveraged loans to data-centre and AI borrowers are the most direct paper behind the buildout, and BKLN is 2% above its 52-week low at $20.44.

Buy Long Treasuries — FT flags the best week for Treasuries since February on an explicit safety bid, though TLT at $80.05 is still 8% down YTD and only 5% off its 52-week low — early, not confirmed.

Buy Inflation-linked Treasuries — TIPS hedge the interest-cost squeeze Sheth describes, and sit 2% above their 52-week low with a +1.0% week at $105.50.

Sell Ultrashort Treasuries — The levered long-duration short has given back 5.0% in a week as the selloff it feeds on stalled, so it's the wrong side until yields break higher again.

Sell Semiconductors⚡ — Bloomberg's worst-week-since-June wrap names chipmakers as the AI-fear epicentre, and SMH's 8.7% weekly drop still leaves it +44.6% YTD and 71% above its 52-week low.

Sell Nasdaq 100⚡ — WSJ ties the selloff to tech credit fears while MarketWatch's Kilgore explicitly argues against dip-buying; QQQ is -4.9% on the week yet still +15.8% YTD.

Watch Nvidia⚡ — The AI bellwether is only 5.4% lower on the week and 12% below its high at 13.5x forward — press and price disagree on whether that's a discount or a warning.

Hold JPMorgan — JPM rose 1.25% last session and 1.6% on the week to 13.3x forward with a 2.6x book — the tape says the derating is selective, so don't short the whole complex.

Sell Bank of America — BAC's 6.1% weekly drop to 22% below its 52-week high at 1.3x book and 9.9x forward is the clearest evidence of the post-earnings derating Bloomberg describes.

Sell Goldman Sachs — Capital-markets franchises swing hardest when bank sentiment turns; GS is 24% below its 52-week high at 12x forward and slipped 1.4% on the week.

Buy Alphabet — Whoever's agent does the shopping owns the front door to the customer, and Alphabet has the distribution — 17% below its 52-week high at 22.3x forward.

Hold Amazon — Amazon owns both the marketplace and the ad business agents would bid into, so the WSJ framing cuts both ways — it's 13% below its high at 23.9x forward.

Sell Etsy — WSJ's agentic-shopping piece lands hardest on marketplaces without pricing power, and Etsy fell 4.5% last session while sitting 94% above its 52-week low at 12.3x forward.

Watch Shopify — Shopify's 69x forward multiple only holds if it sells merchants tools to be found by agents — that's either a new product line or a threat to the storefront relationship.

Hold Bharat Petroleum — State retailers lose their cheapest blending feedstock, but at 7.6x forward after -23.1% YTD the cost hit looks largely in the price.

Sell Sugar — India's halt on sugar-based ethanol procurement frees cane into the food supply right as CANE sits 1% below its 52-week high and +28.6% YTD — a crowded long meeting a policy cap.

Hold Malaysia equities — Malaysia hosts data centres for both AI blocs — the beneficiary if it stays neutral, and exposed at 4% above its 52-week low if it's forced to pick a side.

Sell China large caps — Nikkei flags a formal EU instrument to move sourcing out of China, and FXI is already -15% YTD at 0.84x book and 18% below its 52-week high.

Sell ASML — ASML sells heavily into China, so faster EU de-risking trims a chunk of revenue — the 6.2% weekly drop to 26.2x forward says the market has started pricing it.

Buy EchoStar — J.P. Morgan's sum-of-the-parts call on the SpaceX stake and further spectrum deals is the only coverage out there — single broker, no published target, so size accordingly.

“Investors aren't giving EchoStar enough credit for the value of its future SpaceX stake or its potential to strike more spectrum deals”

Buy Philippine equities — A record $966m listing gives Manila its first visible catalyst in years, though the deal was cut from 92.32bn pesos and the vehicle is thin.

Hold Grab — A strong GCash mark is a positive read-across for ASEAN digital-finance valuations, but Grab is -42.1% YTD and 53% below its 52-week high on a different super-app model.