CNBC's "Fast Money" Markets Reject 5% Yields, Helping Big Tech Rally 10/23/23
Oct 23, 2023
The podcast discusses the recent movement of the 10-year yield and its impact on big tech stocks. Chinese regulators investigating Foxconn and the potential consequences for Apple. Collaboration between Nvidia, AMD, and ARM to produce CPUs for PCs. Discussion on oil sector buyout and cryptocurrency surge. Analysis of an oil mega merger and investment opportunities. Discussions on Chesapeake's deal, Chevron's assets, and Bitcoin's rise. An analysis of bull traps in the market and discussion on Co-Star's purchase, Alphabet Google, and TTE Total Energy.
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Ackman's Bond Move
- Bill Ackman covered his bond short, influencing the market.
- He believes economic slowdown and geopolitical risks will lower yields.
Yields and Tech
- Factors like Japanese bond market instability and US Treasury issuance affect yields.
- Mega-cap tech stocks look decent, and their earnings are expected to be stable.
Treasury Risk
- Consider treasury ETF TLT, which shows higher options premium than SPY.
- This indicates treasuries are currently riskier than stocks.