Ep. 2 — Oil Squeeze, AI Bets, and CPI Friday

Three oil supply shocks in one session — Saudi premiums, Ukraine drones, Hormuz — and equities just shrugged. Alex, Tom, and Ray break down the bet the market is making: AI-driven productivity outruns rising energy costs, at least until CPI says otherwise.

Today's stories:

• Three oil shocks, stocks still green — sequencing or denial?
• Banks rally on fatter NIMs; Dimon's private credit warning
• Crypto rips, gold yawns — fear vs liquidity in one session
• Nerd Corner: what Dimon actually said about AI timelines and the private credit bridge

The Calls:

• Tom: NVDA down 8–10% if CPI runs hot — belief stays, discount rate bites
• Ray: 10Y rips through 4.5% after the data — no-landing = inflation rebound
• Alex: Gold catches the oil move by Friday close — if it doesn't, the hedging playbook is broken

New episode every weekday before US market open.
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Produced using AI-generated voices.