CNBC's "Fast Money" Risk-On & Risk-Off Trades Get Hit… And Insmed CEO On Stock Surge 11/3/25
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Nov 4, 2025 Vishal Garg, Founder and CEO of Better.com, shares insights on how their AI-driven mortgage platform is revolutionizing refinancing for homeowners while saving costs. Julian Emanuel of Evercore ISI dives into market sentiment, revealing a mix of bullishness and caution from investors. The discussion also highlights the recent surge of Insmed's stock tied to their chronic lung disease drug launch, alongside the implications of both risk-on and risk-off trends in the market as November approaches.
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Risk-On And Defensive Both Weak
- Both risk-on crypto and defensive staples being hit signals a broader market dislocation beyond headline indices.
- Narrow breadth means gains are concentrated in a few mega-caps while many sectors lag, creating fragility.
Breadth Tells A Different Story
- Market breadth deterioration contrasts with headline S&P strength and suggests hidden weakness.
- The VIX and bond-market weakness are sniffing out that undercurrent despite megacap leadership.
Rate Path Hits Staples And Crypto
- Jerome Powell dialing back a December cut and rising rates pressure both staples and Bitcoin.
- Higher rates remove some demand for yield and speculative leverage, amplifying corrections.