Nobody Special Finance

The price of oil went crazy while we were sleeping. Initially oil spiked to nearly $120 per barrel as several middle east countries began cutting production due to storage tanks becoming full with nowhere to send the oil thanks to the Strait of Hormuz being closed. A few hours later, the price dropped abruptly to $100 per barrel after the story broke that the G7 countries are considering a coordin...

The Nonfarm Payrolls report for the month of February was just plain awful. Not only did the economy shed jobs, but downward revisions to prior months and a bump upward in the unemployment rate are rubbing salt in the wound. Elsewhere the price of oil continues to rise this morning due to the ongoing conflict in the middle east adding to worries about inflation. Link to ⁠⁠⁠⁠⁠⁠⁠George Noble's B...

World energy markets are still adjusting to the "closure" of the Strait of Hormuz as Asian countries have begun cancelling exports, hoarding fuel supplies, and tapping strategic reserves. Elsewhere Nvidia has stated that they will likely make no further investments in AI giants OpenAI and Anthropic following their most recent funding rounds which included smaller amounts than initially t...

The dip buyers were largely able to restore calm yesterday after a brutal selloff at the open. This morning things appear to be much less noisy with the exception of South Korea who has now seen the most violent selloff in stocks since the 2008 GFC. Elsewhere commodity markets are adjusting to the disruptions caused the Iran War with force majeure being declared in many places and capacity curtail...

Most traders are scratching their heads after watching precious metals selloff amid the outbreak of war in the middle east. Idaho Armored Vaults CEO Bob Coleman joins me to try to make heads or tails of the recent price movement in gold and silver. Check out the ⁠Idaho Armored Vaults Website⁠ ⁠Follow Bob Coleman on Twitter(x)⁠ Support the Channel on ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Patreon ⁠⁠⁠⁠⁠...

Yesterday's market action that shrugged off the middle east conflict was nice while it lasted. Today is a whole different story. Stocks worldwide are selling off, bond yields are rising, precious metals are getting clobbered and oil/gas prices are spiking as reality sets in. Don't forget to keep one eye on private credit as the surge in redemptions has just hit Blackstone's signature B...

World financial markets are volatile this morning as they begin to digest the outbreak of war with Iran. Oil, natural gas, and gold are sharply higher this morning and stocks are sharply lower as the fog of war makes it difficult to know what's happening and predict what comes next. Link to ⁠⁠⁠⁠⁠George Noble's Best Ideas Stock Summit⁠⁠⁠⁠⁠ Support the Channel on ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠...

Market Financial Solutions is the latest private lender to go under due to suspected collateral fraud tied to a mortgage scam run by a corrupt government minister in Bangladesh leaving US private credit firms holding another bag of cockroaches. Unicus Research founder and CEO Laks Ganapathi joins me to discuss the details and the implications for retails investors. Follow ⁠Unicus Research of Twitt...

The Producer Price Index (PPI) came in sharply higher than expected, increasing over last month when the market expected a decrease. This has sent stocks lower and metals higher as inflation and central bank expectations adjust. Elsewhere, neocloud Coreweave stock is selling off after reporting a dreadful quarter. Link to ⁠⁠⁠⁠George Noble's Best Ideas Stock Summit⁠⁠⁠⁠ Support the Channel on ⁠⁠...

Nvidia posted earnings that blew away expectations...as expected. The market didn't care...as expected. This is now 3 consecutive quarters where the market darling has been unable to break out of it's price range regardless of results. Elsewhere the CME group suffered another conveniently timed "technical glitch" yesterday just as the price of silver was threatening to break an i...

The price of silver is back above $90, approaching a key technical level following the brutal selloff earlier this month. Elsewhere the market is bracing for Nvidia's earnings later today as the ongoing worries about private credit continue to weight on investors. Link to ⁠⁠George Noble's Best Ideas Stock Summit⁠⁠ Support the Channel on ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠...

Meta has agreed to buy tens of billion of AMD chips along with stock warrants for up to 160 million shares of AMD stock in the latest AI hardware megadeal. Elsewhere, JP Morgan CEO Jamie Dimon is warning about banks doing dumb things chasing net interest income. In other words they are lowering standards and making risky loans to chase fees and short terms gains. Link to ⁠George Noble's Best I...

Uncertainty is back in a big way this morning after Friday's Supreme Court ruling that struck down President Trump's reciprocal tariffs. Now the question is what to do about all of the previously announced trade deals based on them as Europe and India in particular pull back and assess their options. Elsewhere problem in Private Credit markets persist this morning as CLO funds are down sig...

US GDP growth in the fourth quarter slowed substantially vs Q3 as the government shutdown took it's toll on the numbers. Meanwhile PCE inflation rose slightly, as it has done every month since April of last year. Support the Channel on ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Patreon ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ Suppo...

Used auto retailer Carvana posted significant year over year revenue gains and earnings that exceeded expectations yet the stock got pummeled after hours as the market began to scrutinize the company's questionable math. Elsewhere, Private Credit manager Blue Owl has permanently halted withdrawals in it's BDC fund which was marketed to retail investors. Support the Channel on ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠...

ECB chief Christine Lagarde is rumored to be leaving her post ahead of schedule as European leaderships appears worried about shifting political winds. Elsewhere we have some details of the Japanese trade deal and Sam Altman appears to be coming home empty handed from the UAE. Support the Channel on ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Patreon ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠...

Iran has announced that they are temporarily closing part of the Strait of Hormuz for naval exercises as talks with the US continue and the US continues to send military assets to the region. Thus far, the price of oil seems unaffected. Elsewhere the selloff in technology stocks has resumed as analysts at two big banks are out with notes expressing doubts about datacenter capex and lack of profita...

After several days of relative calm, yesterday saw the return of widespread volatility in metals, tech stocks, and crypto. Meanwhile the Consumer Price Index (CPI) came in lower than expected at 2.4% year over year. Support the Channel on ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Patreon ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ Support the Ch...

Meta's auditor, Ernst and Young, has raised a red flag over the company's use of off balance sheet debt to pay for datacenters. Meanwhile WSJ is out this morning warning about irregularities associated with depreciation expenses and lack of transparency. The biggest accounting fraud in human history is finally getting at least some scrutiny, after years of neglect and cheerleading by peopl...

The Nonfarm payrolls for the month of January is a hot mess, as expected. The headline jobs added for the month beat expectations but was accompanied by a massive downward revision to previously reported numbers from 2025 as part of the annual benchmark revisions. The market is struggling to digest these numbers and what it means for asset prices. Support the Channel on ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠...

Google is now issuing debt in Dollars, Pounds, and Swiss Francs in order to raise the capital needed to support it's runaway Capex budgets and datacenter ambitions. Meanwhile US states, both red and blue, are passing moratoriums or outright bans on new datacenter construction. Support the Channel on ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Patreon ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠...

China's government has instructed it's banks to limit purchases of US government debt and to reduce existing positions. This comes amidst years ongoing reductions in Chinese Govt holding of USTs. Elsewhere Sanae Takaichi's Liberal Democratic Party won a resounding victory in last night's snap elections clearing the way for big government spending initiatives. Support the Channel on...

There is a storm brewing in China's silver market as a single trader has amassed a seemingly impossibly large short position in Silver. Elsewhere Amazon is that latest big tech company to be punished over increasing their AI capex spending, despite posting strong earnings. Support the Channel on ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Patreon ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠...

Anthropic is about to run a savage ad campaign targeting OpenAI for putting ads in ChatGPT, something Sam Altman once called a "last resort." So what happens to the AI bubble when OpenAI goes from the next big thing, to the punchline of a joke at every Superbowl Party in America? Elsewhere Bitcoin is tanking and the selloff in precious metals has resumed as liquidity worries and risk-off...

Yesterday saw rampant selling in the private credit space as "Non Banks" were dragged lower by fears that software companies will be unable to pay their debts due to AI disruption. Elsewhere Gold and Silver continue to bounce from their lows and bitcoin is breaking down with the familiar stink of "technical issues" during selloffs. Support the Channel on ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠...