Just noticed Circle shares have been running pretty strong lately. Mizuho's take is interesting - they're linking the move to a few things converging: Middle East tensions pushing oil prices up, which typically helps certain sectors, and more importantly, the whole rate cut expectations story cooling off. With fewer rate cuts priced in now, investors seem to be rotating into different plays. Circle's been benefiting from this shift in sentiment. The geopolitical stuff is adding to the risk-on mood in pockets of the market, even if it feels counterintuitive. Worth watching how this plays out if rate cut expectations shift again - that could easily reverse the momentum. Oil and geopolitics usually move together, but the rate cut narrative is probably the bigger driver here for tech and fintech names like Circle.