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Bessent Threatens ‘I Am The House’: Bond Traders Should Listen
At a speech Tuesday night at SMU, Treasury Secretary Scott Bessent threatened currency traders to bet against him on the Japanese yen, claiming, I am the house now, so when we intervene with the Japanese yen, I have pretty good insight into what the Japanese, what the Bank of Japan is going to do, what […]
Sep 10, 2026
Is Warsh Setting Up A Policy Error?
Fed Chairman Kevin Warsh’s recent Hawkish Pivot raises a troubling question: is he actually worried about inflation, or is he changing his tune to build the Fed’s inflation-fighting credibility as it tries to stabilize long-term yields? If the latter, he risks making a policy error if he raises rates. At his recent Jackson Hole speech, […]
Sep 9, 2026
Yield Curve Tells Us More Than We Think
The BLS reported that payrolls jumped by 162,000, more than tripling estimates of a 50,000 gain. Unemployment held at 4.1%, and wages rose 0.3% for the month. Below, we share a bullish reaction and a more measured one from Wall Street analysts. While helpful to know how analysts view the data, they often contradict one […]
Sep 8, 2026
Is CoreWeave At The Mercy Of The Bond Market?
CoreWeave, which rents GPU computing capacity to AI labs and hyperscalers, sits at the heart of a circular financing story that worries some investors. CoreWeave’s total debt sits at $35 billion as of June 30, up sharply from $21 billion at year-end 2025. Further, interest expense hit $640 million last quarter, accounting for more than […]
Sep 4, 2026
Global Bond Yields Fret Inflation & Deficits
For those worried about the impact of deficits and inflation on US bond yields, it’s worth taking a trip around the world to get a better picture. Global bond yields for many of the world’s ten largest economies are behaving similarly. Across the Globe, the US, Germany, Japan, France, Italy, and Brazil- seven of the […]
Sep 3, 2026
The Ternus Era Begins At Apple
After 15 years of guiding Apple to become the largest US company by market cap, Tim Cook stepped down as Apple’s CEO effective September 1. In his place, John Ternus, the company’s hardware engineering chief since 2021, will become Apple’s eighth CEO. The move was announced in April, but with the CEO turnover in September, […]
Sep 2, 2026
Wall Streets Verdict: Warsh Turned Hawkish
Because Warsh doesn’t believe in forward guidance, Friday’s Jackson Hole speech may be the last window investors get into his thinking before the September 16 FOMC meeting. Accordingly, it’s worth spending more time on his speech to see if Wall Streets verdict agrees with our hawkish take in Monday’s Commentary- Warsh Makes A Hawkish Pivot. […]
Sep 1, 2026
Warsh Makes A Hawkish Pivot
Traditionally, the annual Jackson Hole Symposium is where the Fed Chair signals which economic forces are shaping the Fed’s thinking for the coming year. With a few members pushing for rate hikes and inflation making others anxious, the market is taking his speech as more of an indication of what the Fed may or may […]
Aug 31, 2026
Nvidia Revenue Growth Doubles
Nvidia reported record fiscal second-quarter results Wednesday with revenue more than doubling year over year to $96 billion. After initially falling on the news, the stock rose over 8% overnight. During the earnings call with analysts, CFO Colette Kress guided Nvidia’s fiscal 2028 revenue to roughly 70% growth. The forecast implies nearly $700 billion in […]
Aug 28, 2026
Bitcoin Up 22%: Has The Halving Cycle Begun?
Bitcoin peaked a year ago, hitting an all-time high of $126,210 in October 2025, and has since fallen more than 50%, bottoming near $58,000 two months ago. The tide may be turning; over the last week, Bitcoin rose by over 20%, marking its sharpest bounce during this year-long drawdown. The question is whether that marks […]
Aug 27, 2026
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