Friday links: changing the mood

MarketsGold is well off its highs. (axios.com)Semiconductor stocks have taken a hit from their highs. (semafor.com)ASML Holding ($ASML) is Europe's most valuable company, ever. (bloomberg.com)When do rising interest rates start to matter? (trendlabs.com)Is an AI bubble inevitable? (awealthofcommonsense.com)ETFsLow costs matter, even for Bitcoin ETFs. (wsj.com)The Vanguard S&P 500 ETF ($VOO) has crossed $1 trillion in assets. (etf.com)Private assetsBlackstone ($BX) is having to gate Bcred. (wsj.com)Private credit lenders are now tightening up their lending standards. (wsj.com)IPOsS&P took a stand. (philbak.substack.com)S&P stands alone among index providers when it comes to SpaceX. (ft.com)The vast majority of American investors will soon be SpaceX shareholders. (thebulwark.com)A look at the investors who are going to clean up on SpaceX. (om.co)Traders and investor should view SpaceX differently. (aswathdamodaran.blogspot.com)You are under no obligation to have an opinion about the