Chesley Morning Brief: Global Stock Valuation Check (June 8)

Summary

The video analyzes the sharp correction in US and Korean markets triggered by strong employment data and rising bond yields. Hosts Park Se-ik and Choi Ho argue the selloff is an overreaction, not a fundamental shift, and that the AI cycle remains intact. They recommend buying on further dips, particularly for the Korean market at a 20% correction, and discuss Bitcoin technical levels.

• US markets dropped on stronger-than-expected jobs data, pushing 10-year yields above 4.5%.
• Choi Ho detailed that the correction is driven by rate repricing, not AI cycle deterioration.
• Park Se-ik compared the correction to 1983-85 and expects a summer squall pattern.
• They highlighted that KOSPI falling 20% would be a strong buying opportunity.
• Bitcoin tested $60k support; on-chain indicators suggest possible drop to $52k if broken.
• Sectors like financials and healthcare held up, while high-beta semi stocks fell most.
• Upcoming CPI and Space X IPO are key catalysts for further volatility.
• The hosts maintained a bullish long-term outlook despite short-term turbulence.