The Exchange

Επεισόδια

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  Yields Surge, The Fed vs. Oil, and a Predictions Pop 9/15/26 15.09.2026 43λ

  The yield on 10-year notes hitting the highest level since 2007 ahead of the Fed decision. Jefferies’ David Zervos expects a more dovish Warsh and says the market is wrong on rates. Plus, prediction markets are already scoring this NFL season.
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  “Pace the Frontier,” The Case for a Cut, and Healing Healthcare 9/14/26 14.09.2026 44λ

  After Anthropic’s Dario Amodei calls to “pace the frontier” on AI, one of the researchers who discovered OpenAI’s hack of a German website says slowing U.S. model development will also curb China. Jefferies’ Chief Economist makes the case for a December rate cut. Plus, the billionaire founder of Groupon and CEO of Tempus AI on how AI is changing healthcare.
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  Hikes on the Horizon, Diesel Distress and Remembering September 11 9/11/26 11.09.2026 44λ

  JPMorgan’s Michael Feroli raising his rate hike forecast to two this year after inflation comes in slightly hotter than expected. What record high diesel prices mean for the US economy. Plus, 41-year New York Stock Exchange veteran Peter Tuchman reflects on the 25th anniversary of the September 11 attacks.
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  Bond Bonanza, Driving Oil Action, A GOP Guarantee? 9/10/26 10.09.2026 44λ

  Yields continue higher, and on the heels of a strong 30-year bond auction, Rick Santelli says it’s “war, not Warsh” moving rates. Real Macro’s Jeff Currie on the “toxic” double-trade pushing oil prices higher. Plus, President Trump’s $5,000 midterm ‘dividend.’
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  Crude’s “Crash Diet,” Tariff Tiff, and Hold off on a Hike? 9/8/26 08.09.2026 43λ

  West Texas crude reapproaching $100 a barrel, and while Middle East tensions are ramping, Rapidan’s Bob McNally says China is also playing a big role in driving up prices this time around. We talk to the CEO of AGCO as retaliatory Canadian tariffs going into effect on U.S. goods like dairy and ag equipment. Plus, whether a 25 basis point rate hike at the next Fed meeting would do more harm than good.
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  Jobs Jolt, Hugging Face’s First Investor, and Where the Pricing Power Is 9/4/26 04.09.2026 43λ

  With markets pricing in a rate hike in September after a strong August jobs report, Steve Liesman and KPMG’s Diane Swonk weigh in on whether Chair Warsh’s ‘forward silence’ could backfire. The first investor in Hugging Face reveals the three companies he’s investing in now. Plus, the trade that still has pricing power.
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  Nvidia Buys Hugging Face, AI Outages, and Data Center Dissent 9/3/26 03.09.2026 43λ

  Nvidia will buy open-source AI platform Hugging Face for nearly $13B. BofA’s Vivek Arya says that will extend Nvidia’s sphere of influence well beyond Silicon. Meanwhile, ChatGPT, Claude, and Grok all experienced outages in the morning--former Marine Corps. hacker David Kennedy says while that can be attributed to new models causing massive usage spikes, there could also be other, more sinister, factors at play. Plus, a Kansas union leader on why he broke with tradition, aligning with Republicans on data centers in the state.
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  The Great Data Center Debate, Apple’s New Era, and Not Swooning in September 9/2/26 02.09.2026 44λ

  As West Virginia says ‘yes’ to data centers, Governor Patrick Morrissey is focused on clean water and keeping energy costs low. Steve Jobs biographer Walter Isaacson wants Apple to get back to its roots under its new CEO, creating devices that bring humans closer to the machines and intelligence they use. Plus, trader Jeff Kilburg says, despite a potential rate hike, stocks won’t experience a September swoon.
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  Hike vs. Cut, FTC Chair on Amazon Lawsuit, and Why Electricians Love Data Centers 9/1/26 01.09.2026 46λ

  Investor Barry Knapp makes the case for a Fed rate cut with global yields back on the rise. FTC Andrew Ferguson on the agency’s new lawsuit against Amazon. Plus, an officer from electrical workers union, I.B.E.W., Local 26, tells us why data centers are “the best opportunity in generations for blue-collar workers to attain a portion of the American dream.”
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  Renewed Iran Tensions, Colorado’s Data Center Fight, and the Summer Software Surge 8/31/26 31.08.2026 39λ

  The US striking Iran for the first time in a month as the G20 kicks off and Secretary Bessent says the administration can keep the pressure on without China’s help. Colorado AG and Democratic gubernatorial candidate Phil Weiser on his plan for data centers. Plus, Sarat Sethi’s leader-to-laggard pick for the second half has already surged nearly 60% since July.
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  Warsh at Jackson Hole, Retail Roundup, and Treasury Trouble? 8/28/26 28.08.2026 43λ

  Fed Chair Kevin Warsh striking a hawkish tone in his first speech at Jackson Hole, saying there’s more work to do on inflation and former Boston Fed President Eric Rosengren agrees. Peterson Institute’s Adam Posen calls the Treasury’s increased bond buybacks “nuts.” Plus, off-price retail is on-target, according to Bank of America.
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  Nvidia’s Record Quarter, Connecticut Sues Kalshi, and So Long, SaaSpocalypse? 8/27/26 27.08.2026 43λ

  The AI trade roaring back on the heels of Nvidia’s blowout earnings and strong guidance. Connecticut Governor Ned Lamont on the state’s suit against Kalshi, the impact of Canadian tariffs, and how to lower energy costs for New Englanders. Plus, Anthropic’s Dario Amodei reassures the software industry, “we’re not interested in destroying anyone.”
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  Nvidia Earnings, A Winter Warning, and China’s Government Hack 8/26/26 26.08.2026 44λ

  The key metrics to watch in Nvidia’s earnings—and why a guidance hike could be on the way. As oil prices continue to fluctuate amid Middle East tensions, RBC’s Helima Croft is concerned about a different commodity ahead of cooling temperatures. Plus, unsealed court documents reveal the Fed, the Senate, the Deptartment of Justice, and NASA were just some of the federal agencies hacked by a Chinese state-sponsored group.
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  Media Deal in Limbo, Bitcoin’s Bounce, and Football Firestorm 8/25/26 25.08.2026 44λ

  A former Disney executive’s warning for media M&A as Paramount’s takeover of WBD sits in limbo. Technician Katie Stockton returns to discuss Bitcoin’s recent rally after calling the bounce last week. Plus, sports superagent Drew Rosenhaus on his client’s, former NFL player Dae’Quan Wright, decision to return to college football.
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  Safe Haven Status, Retail Wrap Up, and Crypto Comeback 8/21/26 21.08.2026 44λ

  The Wall Street Journal’s Greg Ip joins us to discuss whether U.S. Treasurys are losing their safe haven status after Treasury Secretary Bessent’s buyback plan. Plus, Guggenheim’s Simeon Siegel is here with his retail outlook after a big earnings week. And Pantera Capital’s Cosmo Jiang weighs in on bitcoin’s big week and the other big headlines in the crypto space.
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  Bessent’s Bond Battle, Go Broad Not Bearish, and Stripe’s Strategy 8/20/26 20.08.2026 43λ

  Former OMB Director Mitch Daniels on the Trump administration’s fiscal policy fight. Five-star fund manager Matt McLennan says despite the rising bond risks, investors should broaden their holdings, rather than get bearish. Plus, why Stripe could stay private for the long-term.
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  The Exchange 8/19/26 19.08.2026 43λ

  Listen to the day's top stories, the must reads & a whole lot more for today's modern investor.
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  Global Bond Rout, Meta’s Landmark Trial, and Anthropic’s Revenue Surge 8/18/26 18.08.2026 44λ

  Yields around the world hitting multi-decade highs as bond vigilantes go to work. The Verge’s Nilay Patel says Meta’s federal child-harm trial is the social media platform’s “Microsoft moment.” Plus, Anthropic pulls back the curtain on its financials as it prepares to go public.
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  Retail Ramp-Up, Chinese Tech Catalysts, and a Bitcoin breakout? 8/17/26 17.08.2026 44λ

  The retailer Morgan Stanley says could go from laggard to leader in the second half. After the 2020 clamp down, can China woo tech investors back? Plus, the bullish set-up for Bitcoin.
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  Bubble Beacons, Prediction Friction, and a Data Center Disconnect 8/14/26 14.08.2026 43λ

  Semis are in a bubble, according to Citi’s indicator. Former Assistant AG Jonathan Kanter on prediction markets’ legal hurdles. Plus, the disconnect between investors and developers when it comes to data center moratoriums.