Nobody Special Finance

The latest round of trade talks between US and Chinese officials are currently underway in London this morning as markets continue to shrug off trade war risks with the S&P 500 back above 6,000. Meanwhile riots broke out in LA and other parts of California over the weekend as rioters peacefully burned cars, peacefully looted stores, and bricks were peacefully thrown at cops. Support the Channe...

CoreWeave Exposed: What Are You Actually Buying? Gil Luria, Head of Technology Research at DA Davidson joins me to talk about his research into AI Darling CoreWeave to help people understand what they really own when the hold CRWV stock. Support the Channel on Patreon: ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠https://www.patreon.com/NobodySpecialFinance⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ Support the Channel by Buyi...

The May Jobs report beat expectations by a modest margin with 139K jobs added vs expectations of 130K. But as usual, massive downward revisions to prior months have nearly wiped out all of those job gains. Also, Elon and Donald are 'on a break.' Support the Channel on Patreon: ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠https://www.patreon.com/NobodySpecialFinance⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ Support the C...

The price of precious metals are rallying this morning off the combination of a weaker dollar, lower interest rates driven by a rally in bonds, and the continued pressure of central banks buying gold. Silver in particular is outperforming, after lagging it's yellow cousin for much of the last year. Platinum is also rising sharply after lagging gold. Support the Channel on Patreon: ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠...

A Chinese national was arrested in Michigan last night for being part of a plot to smuggle a dangerous crop fungus into the United States from China. How very 2020s. Elsewhere ADP Payrolls was a big miss this morning and President Trump is already lashing out at The Fed using his signature vernacular. Support the Channel on Patreon: ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠https://www.patreon.com/NobodySpecialFi...

Facebook parent company Meta has signed a contact with nuclear operator Constellation, to buy power from the Clinton Power station in Illinois for 20 years starting in 2027. Support the Channel on Patreon: ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠https://www.patreon.com/NobodySpecialFinance⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ Support the Channel by Buying Me a Coffee ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠https://www.buymeacoffee.com/nob...

The price of gold is sharply higher this morning as China has threatened to retaliate against President Trumps latest trade salvo from late last week. Elsewhere oil is also rallying sharply this morning despite a recent production increase from OPEC+ after a drone strike by Ukraine deep inside Russia. Support the Channel on Patreon: ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠https://www.patreon.com/NobodySpecialFina...

President Trump took to Truth Social this morning to voice his displeasure with the Chinese regarding a lack of adherence to the agreement reached in Sweden earlier this month. This would suggest that another escalation in the trade war is likely to follow. This may have something to do with yesterday's Appeals Court decision to temporarily reinstate Liberation Day tariffs after a Trade Court...

The US Court of International Trade has struck down President Trump's "Liberation Day" tariffs, setting up for an inevitable showdown at the US Supreme Court. In the meantime, any negotiations are likely on hold if not dead. Elsewhere Nvidia's earnings once again beat expectations with the company devoting significant air time to complaints about export controls, which let's...

Japanese automaker Nissan continues to fight for it's survival, selling off assets and taking on new debt. Now it's turning to the UK Government for a loan guarantee as liquidity problems mount. Meanwhile in Japan, unrealized losses from a recent violent selloff in bonds is hitting insurance companies and even the Japanese central bank. Support the Channel on Patreon: ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠...

The Japanese Finance Ministry issued a strangely-timed survey to market participants Monday night that signaled the government may be about to shift to issuing more short-term debt vs long duration bonds. This comes days after a brutal selloff in JGBs caused reports of massive unrealized losses in Japanese banks and insurers that was eerily reminiscent of the Silicon Valley Bank collapse. Elsewher...

Just when you thought the worst of the trade war was behind us...somebody forgot to take away the President's phone this morning because he went on a Truth Social tirade threatening new tariffs on the European Union and Apple specifically. But there are some key details in these posts that might catch the eye of other countries not specifically targeted. Support the Channel on Patreon: ⁠⁠⁠⁠⁠⁠⁠...

MIT has revealed that a "groundbreaking" 2024 study showing a surge of new materials discoveries by scientists using artificial intelligence tools was a hoax. The paper by a PHD student Aidan Toner-Rogers was widely touted by prestigious academic institutions, government agencies, and the press claimed that 1,018 scientists at an unnamed laboratory run by a large US firm had discovered 4...

Yesterday the bond market threw a fit with a lackluster 20 year auction igniting a selloff in both bonds and stocks. This comes as the GOP is pushing through a tax overhaul that will likely add significantly to US borrowing in the coming years and the investors are demanding a higher interest rate as a result. Support the Channel on Patreon: ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠https://www.patreon.com/NobodySpecialFi...

Consumer stress is showing up in the earnings from several retailers this morning with same store sales declines at both Target and Lowe's, while discount apparel retailer TJ Max saw gains, likely indicating market share being captured from pricier retailers. Support the Channel on Patreon: ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠https://www.patreon.com/NobodySpecialFinance⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ Support the Channel by Buyi...

Interest rates on long duration Japanese government bonds (JGBs) have been moving higher for weeks, but this morning that move accelerated sharply as the world is quickly learning that outside of the Bank of Japan, nobody really wants this stuff without much higher interest rates. If those rates continue to materialize, it could spell big trouble for US asset prices. Support the Channel on Patreon...

Melody Wright and Laks Ganapathi join me to talk about the hidden crisis in virtually every sector of consumer credit, all of which are being made worse or exposed by the sudden surge in Student Loan delinquencies causing credit scores to drop by hundreds of points for millions of people. Subscribe to Unicus Research on Substack: https://substack.com/@contrarianunicus/nsf Subscribe to Unicus Resea...

Moody's hit the US with a Friday news dump when it cut the US sovereign credit rating to AA1 from AAA, now the third ratings agency to do so. Rising deficits and fiscal recklessness were (of course) cited as reasons for he downgrade. This has reignited the "Sell America" trade, sending long term interest rates sharply higher, stocks lower, and gold higher. Support the Channel on Patr...

The Japanese economy shrank more than expected in the first quarter, even before any impact from tariffs. Consumption has fallen and the auto industry, one of Japan's biggest exports, continues to struggle. Elsewhere, my favorite tech startup, Coreweave, has reported their first (lack of) earnings. Support the Channel on Patreon: ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠https://www.patreon.com/NobodySpecialFinance⁠⁠⁠⁠⁠⁠⁠⁠...

Thanks to the spike in inflation and the resulting housing bubble, property taxes across the country are now rising so fast that they have effectively become a tax on unrealized capital gains. People are now losing their homes because of it. Support the Channel on Patreon: ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠https://www.patreon.com/NobodySpecialFinance⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ Support the Channel by Buying Me a Coffee ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠https:...

The April Producer Price Index (PPI) is turning heads this morning after it came in shockingly lower than expected along with some rather large upward revisions to the March data. Elsewhere the problem at United Health continue to pile up as the WSJ reported yesterday that the insurance giant is now under Criminal investigation for Medicare Fraud in addition to a number of other regulatory problem...

The Trump Administration has cancelled President Biden's proposed AI Diffusion rule that would have limited exports of advanced semiconductors across the world. The announcement coincides with headlines about datacenters in the Middle East. This has AI and chip stocks rallying this morning. Support the Channel on Patreon: ⁠⁠⁠⁠⁠⁠⁠⁠⁠https://www.patreon.com/NobodySpecialFinance⁠⁠⁠⁠⁠⁠⁠⁠⁠ Support t...

Idaho Armored Vaults CEO Bob Coleman joins me to talk about the state of the precious metals market, the gold to silver ratio, a nice set up for Platinum, and some of the pitfalls of investing in gold and silver. Idaho Armored Vaults website: https://www.goldsilvervault.com/ Follow Bob Coleman on Twitter(x): https://x.com/profitsplusidSupport the Channel on Patreon: ⁠⁠⁠⁠⁠⁠⁠⁠⁠https://www.patreon.co...

The Consumer Price Index for the month of April came in lower than expected easing fears (for now) that tariff news is driving higher prices. Elsewhere United Health stock in down big this morning after the company's CEO abruptly quit this morning and the healthcare giant pulled it's guidance for the year. Support the Channel on Patreon: ⁠⁠⁠⁠⁠⁠⁠⁠https://www.patreon.com/NobodySpecialFinance...

Trade talks between the US and China went better than anyone could have expected over the weekend with both countries agreeing to lower their tariffs substantially for 90 days while talks continue. This has sent stocks ripping higher despite 30% tariffs on Chinese good remaining in place. Elsewhere India and Pakistan have agreed to a ceasefire and President Trump is expected to issue an executive...