Ep. 3 — Hormuz Reopens: Oil -11%, Futures Rip

Ceasefire headlines slam oil -11% and light a fire under futures — but bonds aren't buying the euphoria. Gold holds its bid, Apple's red in a +3% tape, and the FOMC minutes loom at 2 PM.

Today's stories:

• The Tape: consumer pain vs tech hideout; energy and gold diverge; crypto trades liquidity not macro
• The Footnotes: FOMC minutes setup — why 4.34% on the 10Y says "I don't believe you"
• Nerd Corner: oil is a headline, AI is a contract — PPAs, renewal risk, and nuclear as the baseload hedge

The Calls:

• Tom: AAPL finishes red today even if QQQ stays above +2% — rotation, not a glitch
• Ray: Europe outperforms the S&P by 1+ pt by Friday — energy relief and record shorts
• Alex: Gold holds above 440 through Friday's CPI — structural shift signal

New episode every weekday before US market open.
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