Ep. 24 — Oil Craters on Iran Truce Rumors

Oil gets smoked on Iran truce chatter, AI chips rip on AMD’s blowout, and metals scream as yields slide — which is not the risk-on party you think it is. The Clowns untangle why gold up + stocks up means the dollar’s losing its grip, and where Nvidia’s margin story meets its expiration date.

Today's stories:

• The Tape — Oil dumps on an unsigned Iran MOU while US fuel exports hit records; AMD’s beat lifts the whole AI complex; metals rally alongside equities.
• The Footnotes — Gold loves lower real yields; Greece’s court win and the danger of local-law debt; private credit as UK property’s shadow bank; EU methane rules meet energy security.
• The Nerd Corner — AMD as credible second supplier caps Nvidia’s pricing power; rates as the AI ceiling; UK probes card fees and the unbundling risk for Visa/Mastercard/PayPal.

The Calls:

• Tom: AMD closes red, gives back about 5% from the open.
• Ray: Gold ETF finishes up at least 1% today (watch the 10-year at 4.4%).
• Alex: S&P ETF closes flat to slightly up.

New episode every weekday before US market open.
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