May 21, 2025
Here’s what was covered in episode 318:
Macro Musings - Macro Musings – The boogeyman is back: bond yields spike and the market tanks. A disastrous Treasury auction sends the Dow down 800 points in a matter of hours. Gerardo draws parallels to 1994, when bond vigilantes crushed Clinton’s early term—and warns that Trump may face the same. The 10-year yield is back near 5% with $9 trillion in debt to refinance. The U.S. dollar weakens while yields rise—an unsustainable combo. Musk backs away from politics after being told he couldn’t cut spending. The IMF and Moody’s are now warning about U.S. credit risk. This is what a sovereign debt crisis looks like.
Market Takes - Gold holding strong above $3,300. Silver still testing multi-year resistance near $33–$35. Copper reverses from $4 to $4.60 amid signs of re-inflation. Uranium recovers to $72/lb, forming a textbook technical base. Bitcoin takes off. Equities remain volatile. Fixed income investors get punished as bond prices collapse. Real estate softens in hot markets like Spokane. Advisors stuffing retirees into bond-heavy portfolios are setting them up for losses.
Bizarro Banter - The new pope doesn’t come up, but the bond market does—over and over. The rise of spineless sycophants in political circles. They talk through market history, structural debt dysfunction, and the threat to retirement accounts, all while trading jokes about Zillow, target date funds, and Rick Rule’s uranium thesis.
Premium Portfolio Picks -
May 21, 2025
Here’s what was covered in episode 318:
Macro Musings - Macro Musings – The boogeyman is back: bond yields spike and the market tanks. A disastrous Treasury auction sends the Dow down 800 points in a matter of hours. Gerardo draws parallels to 1994, when bond vigilantes crushed Clinton’s early term—and warns that Trump may face the same. The 10-year yield is back near 5% with $9 trillion in debt to refinance. The U.S. dollar weakens while yields rise—an unsustainable combo. Musk backs away from politics after being told he couldn’t cut spending. The IMF and Moody’s are now warning about U.S. credit risk. This is what a sovereign debt crisis looks like.
Market Takes - Gold holding strong above $3,300. Silver still testing multi-year resistance near $33–$35. Copper reverses from $4 to $4.60 amid signs of re-inflation. Uranium recovers to $72/lb, forming a textbook technical base. Bitcoin takes off. Equities remain volatile. Fixed income investors get punished as bond prices collapse. Real estate softens in hot markets like Spokane. Advisors stuffing retirees into bond-heavy portfolios are setting them up for losses.
Bizarro Banter - The new pope doesn’t come up, but the bond market does—over and over. The rise of spineless sycophants in political circles. They talk through market history, structural debt dysfunction, and the threat to retirement accounts, all while trading jokes about Zillow, target date funds, and Rick Rule’s uranium thesis.
Premium Portfolio Picks -
May 21, 2025
Here’s what was covered in episode 318:
Macro Musings - Macro Musings – The boogeyman is back: bond yields spike and the market tanks. A disastrous Treasury auction sends the Dow down 800 points in a matter of hours. Gerardo draws parallels to 1994, when bond vigilantes crushed Clinton’s early term—and warns that Trump may face the same. The 10-year yield is back near 5% with $9 trillion in debt to refinance. The U.S. dollar weakens while yields rise—an unsustainable combo. Musk backs away from politics after being told he couldn’t cut spending. The IMF and Moody’s are now warning about U.S. credit risk. This is what a sovereign debt crisis looks like.
Market Takes - Gold holding strong above $3,300. Silver still testing multi-year resistance near $33–$35. Copper reverses from $4 to $4.60 amid signs of re-inflation. Uranium recovers to $72/lb, forming a textbook technical base. Bitcoin takes off. Equities remain volatile. Fixed income investors get punished as bond prices collapse. Real estate softens in hot markets like Spokane. Advisors stuffing retirees into bond-heavy portfolios are setting them up for losses.
Bizarro Banter - The new pope doesn’t come up, but the bond market does—over and over. The rise of spineless sycophants in political circles. They talk through market history, structural debt dysfunction, and the threat to retirement accounts, all while trading jokes about Zillow, target date funds, and Rick Rule’s uranium thesis.
Premium Portfolio Picks -