This podcast takes a deep dive into the market-moving events to cut through the noise and help you identify what really matters. Facts vs Feelings is hosted by Chief Market Strategist, Ryan Detrick and VP, Global Macro Strategist, Sonu Varghese, and is a product of the Carson Investment Research Team.
The information included herein is for informational purposes and is intended for use by advisors only, and should not be copied, reproduced, or re-distributed without the consent of CWM, LLC. Carson Partners offers investment advisory services through CWM, LLC, an SEC Registered Investment Advisor. Carson Coaching and CWM, LLC are separate but affiliated companies and wholly-owned subsidiaries of Carson Group Holdings, LLC. Carson Coaching does not provide advisory services.
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In Episode 211 of Facts vs Feelings, Carson Group’s Ryan Detrick, Chief Market Strategist, and Sonu Varghese, Chief Macro Strategist, explain why investors should be careful what they wish for when it comes to market breadth. After years of complaints about narrow leadership, breadth finally arrived, with 324 of 500 S&P 500 stocks gaining on October 22 even as the index fell 1.4% and tech dropped 3.3%. They discuss why defensive-led participation is a warning sign, since tech has historically been a top-three sector in nearly every major bull market.
From there, Ryan and Sonu dig into Meta’s $95 billion equity raise, three mega AI financing deals announced in a single day, and widening credit default swap spreads at CoreWeave, SpaceX, Nvidia, and Meta. They unpack Anthropic’s S-1, including its explosive revenue growth and $637 billion in infrastructure commitments, and look at Brazil’s 20% market crash and what it says about the limits of prediction markets.
The episode wraps with a dot-com era rotation playbook, a rebound in software stocks, contrarian sentiment signals, and a preview of the Fed meeting, where oil above $100 and hot nominal GDP keep the central bank leaning hawkish.
[Key Takeaways]
Breadth is not always a good sign, and healthy bull markets need tech leadership. On October 22, 324 of 500 S&P 500 stocks rose and the median stock gained 1.1%, yet the S&P 500 fell 1.4% as tech dropped 3.3%. Tech has ranked among the top three sectors in nearly every bull market over the past century, so defensive-led breadth is a yellow flag, though Ryan still expects tech to retake the baton into year-end.
AI financing is surging, and credit markets are asking for more. Meta plans to raise up to $95 billion in equity, SpaceX is arranging a $40 billion chip lease with Apollo, and Anthropic and Broadcom announced a $63 billion infrastructure financing. CDS spreads for CoreWeave (1,150 basis points, up from 550 in June), SpaceX, Nvidia, and Meta have all jumped. Anthropic’s S-1 shows annualized revenue rising from $1.5 billion in Q1 to $45 billion in Q2, but its $637 billion in infrastructure commitments leaves the key question of whether demand can keep up.
Brazil’s crash is a reminder that prediction markets aren’t crystal balls. The Brazilian ETF (EWZ) fell nearly 20% after an election result that prediction markets, which had Bolsonaro as a heavy favorite, missed even though polls showed a tight race.
Rotation can precede a bust, but contrarian signals are flashing. From April to December 2000, the S&P 500 fell 11% while healthcare, utilities, and staples surged, and Sonu argues the low volatility and momentum barbell helps investors ride the AI wave while avoiding a wipeout. Meanwhile, software gained over 6% last week, hedge funds are holding their highest shorts in five years, and the S&P 500 has been higher a year after each of the last 19 midterm elections.
The Fed is expected to hold, but the risks lean hawkish. Oil is still above $100 a barrel, nominal GDP is expected to run near 7%, and the 10-year yield is close to 5%. Markets are pricing in more tightening than even the most hawkish Fed members project.
Jump to:
0:00 - Welcome And Quick Cold Open
0:31 - Paper Straws And Unintended Consequences
1:23 - Why Breadth Can Mislead
9:51 - Meta Spending Shock And Market Reaction
14:26 - Mega AI Funding Deals Multiply
18:11 - Anthropic S-1 Growth Meets Big Commitments
Talking Midterms with Libby Cantrill (FvF Ep. 210)
mercredi 21 octobre 2026 • Durée 01:00:39
In Episode 210 of Facts vs Feelings, Carson Group’s Ryan Detrick, Chief Market Strategist, and Sonu Varghese, Chief Macro Strategist, welcome back Libby Cantrill, Head of Public Policy at PIMCO, for her fifth appearance on the show. With the midterm elections about two weeks away, Libby explains why the data is flashing signs of a potential blue wave: President Trump’s net approval is roughly 20 points underwater, the generic ballot sits near Democrats +9, and an enthusiasm gap favors Democrats. The group discusses why flipping the House is a low bar, why the Senate remains a difficult map for Democrats, and why Texas and even Kansas are suddenly in play, with Sonu noting that prediction markets and models now put Democratic Senate odds at roughly 63% to 70%.
From there, Ryan, Sonu, and Libby dig into the policy and market implications. Libby makes the case that voter backlash against AI data centers, with about 70% of voters disapproving, will not fade after Election Day and could bring moratoriums, tougher permitting, and higher costs for the AI infrastructure build-out. They discuss why yields are rising amid the AI capex boom, how a Democratic Congress could mean more spending on the Affordable Care Act subsidies, Medicaid, and defense, and why bond markets may sell off on higher deficits. Libby also explains why risk markets tend to prefer a split Congress, with Ryan correcting the historical S&P 500 returns by party control.
The episode wraps with a look at the Fed under Chair Warsh and its communication gap, the limits of presidential power over spending and equity stakes in companies, the odds of nationalizing AI firms, the coming Social Security reckoning and the debate over taxing capital versus labor, and early thoughts on who may run in 2028.
[Key Takeaways]
Wave election indicators are flashing blue. Trump’s net approval is about 20 points underwater, the generic ballot is near Democrats +9, and there is an enthusiasm gap. Flipping the House is a low bar with Republicans holding just a three-seat majority, and Sonu notes Democratic Senate odds of roughly 63% to 70% across Kalshi, Nate Silver, and Split Ticket.
The Senate map is still tough for Democrats. They need to defend seats in Michigan, Georgia, and New Hampshire while winning four additional seats in places like Ohio, Iowa, North Carolina, Maine, Alaska, and Texas. Libby says candidate quality is helping, and that this is more about Republican turnout falling than voters switching parties.
The Bull Market Turns Four (FvF Ep. 209)
mercredi 14 octobre 2026 • Durée 59:30
In Episode 209 of Facts vs Feelings, Carson Group's Ryan Detrick, Chief Market Strategist, and Sonu Varghese, Chief Macro Strategist, celebrate the bull market turning four. With the S&P 500 up about 128% on a price basis and 131% including dividends since October 2022, the hosts note that no bull market in the last 50 years has made it past its third birthday and failed to reach a fifth. They explain why this one is being driven by earnings rather than valuations: of the 128% price gain, roughly 85 percentage points came from profit growth, and 40 of those from margin expansion, while forward P/E multiples have fallen from about 22x to roughly 19.5x this year as Treasury yields climbed.
From there, Ryan and Sonu unpack the market's biggest stress points and risks. They look at why triple-C spreads are blowing out while the broader high yield market and loans are holding up, and why that points to an interest rate problem rather than a credit problem. They discuss strong Treasury auction demand, the rapid growth of hyperscaler bond issuance as a share of net Treasury borrowing, and SpaceX's $150 billion in fundraising and its threat to telecom stocks. Sonu also warns that billions in AI compute contracts begin billing in 2027 to 2029, making 2027 and 2028 the potential reckoning for the AI capex cycle.
The episode wraps with a look at the Russell 2000's slide against the S&P 500, the dollar breaking above 100 on the Dixie, the case for staying diversified, and a preview of next week's midterm election episode with Libby Cantrell of PIMCO.
[Key Takeaways]
The bull market turned four with the S&P 500 up about 128% (131% with dividends). Every bull market in the last 50 years that passed its third birthday went on to a fifth, and year five has historically been strong, with the last fifth-year bear market coming in the 1960s.
Earnings, not valuations, are driving returns. About 85 percentage points of the gain came from profit growth, including roughly 40 from margin expansion, versus only 33 from multiple expansion. This year, forward P/E has fallen from about 22x to 19.5x, a roughly 15-point drag offset by 29 points of profit growth.
Triple-C spreads are near 900 basis points, but high yield overall is flat and interest rate-hedged high yield and loans are beating cash. The hosts see a duration problem from rising yields rather than a broad credit problem.
Market Breadth is Overrated (FvF Ep. 208)
mercredi 7 octobre 2026 • Durée 57:37
In Episode 208 of Facts vs Feelings, Carson Group’s Ryan Detrick, Chief Market Strategist, and Sonu Varghese, Chief Macro Strategist, make the case that market breadth is overrated. With the S&P 500 less than half a percent from an all-time high and the Nasdaq printing a new record, the hosts explain why tech and tech-adjacent stocks, roughly half of the index, are carrying the market even as 10 of 11 sectors finished September in the red. They point to Micron's strong earnings, South Korea's surging chip exports, and rising AI capex estimates as evidence that profit growth is overpowering the rise in yields.
From there, Ryan and Sonu break down the revised PCE data, arguing that inflation remains stubbornly hot, and cover the dovish turn from Fed officials that dropped October hike odds from about 70% to roughly 20%. They also discuss why the weak headline payrolls mask a healthy labor market.
The episode wraps with a look at fourth-quarter seasonality, cautious investor sentiment near all-time highs, and their view that a global bull market supports staying diversified with a tilt toward tech and AI.
[Key Takeaways]
September's S&P 500 was nearly flat (down 0.3%) with 10 of 11 sectors in the red, but tech rose about 5%. The hosts expect a breakout in the tech sector ETF to lift the broader market as earnings season begins.
Q4 is historically strong, averaging a 4.2% gain and rising more than 80% of the time. A negative Q1 followed by a 10%+ Q2 has never produced a down Q4, with an average return of about 6%.
Inflation remains hot despite PCE revisions: Core PCE is running about 3% year over year, market-based core inflation is two to three times its historical pace, and ISM prices indexes are at multi-year highs, pointing to an inflationary growth environment.
Fed hike odds for October fell from about 70% to roughly 20% after softer PCE data, light payrolls, and dovish Fed comments, though one more hike in December remains possible.
The labor market is healthier than the headline 29,000 payrolls suggest, with the prime-age employment-population ratio at 80.7%, low layoffs, and Challenger job cuts at their lowest September level since 2022.
Sentiment remains cautious near highs, with the CNN Fear & Greed Index in fear territory. The hosts view that lack of excitement as a net positive, and note that AI capex and profit growth are outweighing the drag from higher yields.
Rory Johnston Returns (FvF Ep. 207)
mercredi 30 septembre 2026 • Durée 51:45
In Episode 207 of the Facts vs Feelings podcast, Carson Group’s Ryan Detrick, Chief Market Strategist, and Sonu Varghese, Chief Macro Strategist, welcome back Rory Johnston, founder and CEO of Commodity Context, to make sense of an oil market that remains historically tight more than 200 days into the war with Iran. Rory explains why Brent sits near $108 with extreme backwardation, why roughly 13.5 million barrels a day are now moving through the Strait of Hormuz versus a pre-war normal of about 21 million, and why he calls himself a "Hormuz half-empty" kind of guy.
From there, the conversation turns to what Rory calls the "Beijing swing," as China cut net crude imports by about 5.5 million barrels a day, and to record-high diesel prices, including what a U.S. diesel export ban would mean for prices at the pump. The episode wraps with the market signals Rory watches that may indicate when the crisis is truly over: rising OECD inventories and the front of the crude curve flipping into contango.
Key Takeaways
Brent is near $108 with prompt spreads close to $8 a barrel, signaling an acute physical deficit even though Hormuz flows have recovered to about 13.5 million barrels a day, up from near zero for non-Iranian crude in March and April.
Rory argues Iran is gradually losing control of the strait, but the cost is enormous: Iraqi barrels have been discounted by $30 to $50, VLCC rates have hit record highs, and the war is far from over.
China cut net crude imports by roughly 5.5 million barrels a day, and Rory believes drawdowns of strategic crude and diesel stockpiles, not just weak demand, explain much of that swing, making it inherently unsustainable.
Diesel remains the tightest part of the market, with roughly 2 million barrels a day lost from the Middle East and Russia, U.S. exports up about 50%, and diesel cracks running at several times normal levels.
A U.S. diesel export ban would lower domestic prices but send global diesel prices soaring and eventually force refinery run cuts. Rory expects a rationing of export licenses rather than a full ban.
In Rory’s opinion, the clearest signal the crisis is over would be OECD inventories rising and the front of major crude curves flipping into contango, which would show the supply deficit is truly behind us.
Jump to:
Tech or Bust? (FvF Ep. 206)
mercredi 23 septembre 2026 • Durée 57:29
In Episode 206 of the Facts vs Feelings Podcast, Carson Group’s Ryan Detrick, Chief Market Strategist, and Sonu Varghese, Chief Macro Strategist, dig into the Mag 7's surge to a new all-time high, edging out the S&P 500 itself. The hosts point to Meta's blockbuster rally, up double digits on the back of a new AI agent that's been downloaded nearly a million times in less than a week, along with chip and semiconductor names like AMD, Intel, and Arm Holdings that all posted big gains as the AI capex story keeps accelerating. They discuss why tech and communication services are carrying the index while breadth complaints miss the bigger picture, and why the S&P 500 grinding sideways for weeks before a sharp move is a bullish, not bearish, signal.
From there, the conversation turns to the Fed. Ryan and Sonu revisit last week's rate hike and dot plot, making the case that despite the headlines calling it hawkish, the underlying numbers, real policy rates, dot plot math, and a lack of any hawkish commentary on AI capex actually point to a more dovish stance than markets are pricing in. They also cover Bitcoin's breakout past $85,000, why the failed Clarity Act may be a hidden positive for crypto, and a batch of strong economic data: retail sales beating expectations, jobless claims at multi-year lows, and S&P 500 revenue growth being driven almost entirely by technology.
The episode wraps with a look at extreme bearish sentiment readings despite a resilient market, and why that combination has historically set up strong seasonal rallies into Q4.
[Key Takeaways]
The Magnificent 7 hit a new all-time high and is now outperforming the S&P 500 on both a price and relative basis, fueled largely by Meta's double-digit rally after the launch of a new AI agent downloaded nearly 900,000 times in six days.
Chip and hardware names surged alongside Meta's news, underscoring how AI capex spending continues to ripple through the semiconductor supply chain.
Despite a 12-0 vote to hike rates and a dot plot showing one more hike projected for 2026, the hosts argue the Fed's own real policy rate and GDP/inflation projections actually point to a more dovish stance than the market is pricing in.
Retail sales came in well above expectations (1.1% vs. 0.8%), core retail sales rose 5% annualized over the last three months, and jobless claims hit their lowest non-seasonally adjusted level since 2022, pointing to a resilient consumer and labor market.
Social Hour With Jay Woods and Scott Brown (Ep. 5)
lundi 21 septembre 2026 • Durée 01:02:41
The Social Hour is back after a summer break, and this livestream edition came loaded. Carson Group’s Ryan Detrick, Chief Market Strategist, and Sonu Varghese, Chief Macro Strategist, are joined by two technical analysis heavyweights: Jay Woods, Chief Market Strategist at Freedom Capital Markets and CNBC contributor, and Scott Brown, Founder and Strategist at Brown Technical Insights.
Fair warning: Scott was cheerfully reminded he was the (second? fifth?) choice to fill in for CNBC anchor Morgan Brennan, Sonu showed up with a Negroni, Jay was stuck with a Dunkin' iced coffee until the closing bell, and Ryan told the story of how he lost a rental car key and somehow got $200 off the bill. But in between? Plenty of substance.
They dig into the Fed's recent hike and the dot plot, with Sonu making the case that this Fed is still dovish and Jay pointing to the war, oil, and the White House as the X-factors no one can quantify. Scott and Jay walk through what the charts are saying: weakening breadth, Dow Theory divergences, key S&P 500 support levels, and a consumer discretionary sector that's cracking. They also cover the bull case for Q4 (seasonality, credit holding up, Mag 7 turning up), the AI capex boom and what would signal it's over, Bitcoin and gold setups, oil's next target, and how election-year politics could hit the AI buildout.
Key Takeaways:
The Fed hiked: A unanimous vote, with most officials penciling in at least one more quarter-point increase by year-end
Still dovish? Sonu argues that with core PCE forecasts up 100 bps, unemployment lower, and inflation not back to 2% until 2029, this Fed isn't really hawkish
The X factor: Jay flags the war, oil and diesel prices, and White House volatility heading into the midterms
Breadth is deteriorating: Only 49% of S&P 500 stocks are above their 200-day moving average, and the advance-decline line is rolling over
Dow Theory warning: Industrials and transports aren't confirming the S&P 500, which sits just 3.5% off its highs
Consumer discretionary under pressure: Relative weakness vs. staples and energy is a key concern
Jump to:
0:00 — Disclosures and Quick Reset
Is AI Going To Kill All Of Us? (FvF Ep. 205)
mercredi 16 septembre 2026 • Durée 58:37
In Episode 205 of the Facts versus Feelings Podcast, Ryan Detrick, Chief Market Strategist at Carson Group, and Sonu Varghese, Chief Macro Strategist at Carson Group, tackle the AI story dominating headlines: a viral tweet from a former Anthropic employee warning about civilization-level risk, an OpenAI/Hugging Face sandbox incident where AI agents were caught cheating and covering their tracks, and Anthropic CEO Dario Amodei's call to slow the AI frontier and create third-party auditors. The hosts draw parallels to past industries (AT&T, airlines, tobacco) that welcomed regulation to cement their dominance, and debate whether China will actually slow down its own AI push or keep charging ahead on deployment rather than AGI.
From there, the conversation shifts to markets. The 10-year Treasury yield cracked 5% for the first time since 2023, and the team explains why that's less alarming than it sounds given nominal GDP growth running near 8%. They dig into hot CPI and PPI data, sticky services inflation (vet bills, wireless plans, dental care), and eye-popping PPI spikes in printed circuit boards and semiconductors tied to the AI buildout.
The episode wraps with a look at what's driving the S&P 500's 2026 return, why margin expansion has more than offset multiple contraction, and why credit spreads and defensive sectors aren't flashing recession warnings yet.
[Key Takeaways]
A viral tweet from a former Anthropic employee, plus an OpenAI/Hugging Face incident involving AI agents caught cheating and hiding it, has fueled fresh "AI risk" headlines, though the hosts note political and business incentives may be shaping the narrative.
Anthropic CEO Dario Amodei is calling for slower AI development, more interpretability tools, and third-party audits, a request the hosts compare to past industries (telecom, airlines, tobacco) that used regulation to entrench their dominance.
The 10-year yield topped 5% for the first time since October 2023, but with nominal GDP growth near 8%, the hosts argue this looks more like normal repricing than a warning sign, especially compared to the late 1990s.
Core and supercore inflation remain sticky, with services like vet care, wireless plans, dental work, and lawn care all running well above pre-pandemic norms, alongside PPI spikes of 65%+ annualized in printed circuit boards tied to the AI buildout.
Everything's Running Hot! (FvF Ep. 204)
mercredi 9 septembre 2026 • Durée 01:01:00
In Episode 204 of the Facts versus Feelings Podcast, Ryan Detrick, Chief Market Strategist at Carson Group, and Sonu Varghese, Chief Macro Strategist at Carson Group, dig into why "everything's running hot" across the US economy. The hosts unpack the August jobs report, including a much stronger than expected 162,000 jobs created, upward revisions to prior months, a tick higher in labor force participation, and a steady 4.1% unemployment rate now sitting below 4.5% for a record 59 straight months. They also dive into which sectors are hiring, the truth behind tech layoff headlines, and why the Challenger job cuts data may be overstating labor market weakness.
Later in the episode, the team covers scorching-hot ISM manufacturing and services data, surging commodity prices (copper, oil, diesel, gasoline), and what it all means for the Fed's rate decision next week, with markets pricing in real odds of a hike rather than a cut. They also touch on Lululemon's earnings miss, the AI-driven software rally, and pause to reflect on the 25th anniversary of 9/11.
[Key Takeaways]
August payrolls came in at 162,000, blowing past expectations, with prior months revised higher, a rare reversal after a long stretch of downward revisions.
The unemployment rate held at 4.1%, marking 59 consecutive months below 4.5%, a record in the data series going back to the 1940s, while labor force participation ticked up for the first time in 11 months.
Job growth over the past three months has been led by cyclical, higher-paying sectors, healthcare, professional/business services, construction, and manufacturing, accounting for the vast majority of gains.
ISM manufacturing and services indices both showed activity and prices running hot, with services prices hitting their highest level since August 2022, reinforcing the "running hot" theme in growth and inflation.
With nominal GDP growth strong and inflation elevated near 3%, markets are pricing in real odds of a Fed rate hike rather than a cut at the upcoming meeting, a sharp shift from where sentiment stood just weeks ago.
Jump to:
0:00 - Welcome And Running Hot Theme
1:45 - Why Jobs Data Looks Underrated
Want the Rainbow? Put Up With the Rain (FvF Ep. 203)
mercredi 2 septembre 2026 • Durée 01:08:50
In Episode 203 of Facts vs Feelings, Carson Group’s Ryan Detrick, Chief Market Strategist, and Sonu Varghese, Chief Macro Strategist, tackle a surprise caller's question on why oil and gas prices aren't higher given ongoing disruptions in the Strait of Hormuz. The hosts break down global oil dynamics, including China's massive strategic petroleum reserves, economic cooling, and EV adoption, as well as the impact of refining margins ("crack spreads") and Ukrainian strikes on Russian refineries.
Later in the episode, the team pays tribute to the legendary Dolly Parton and uses her timeless wisdom ("if you want the rainbow, you gotta put up with the rain") to frame long-term market resilience. Plus, they recap a surprisingly strong August for equities, analyze the tech sector's software surge, review blockbuster Nvidia earnings, and look back at historical market shocks like the 1998 Long-Term Capital Management crisis.
[Key Takeaways]
Despite severe supply shocks in the Strait of Hormuz, global oil prices have been cushioned by China's strategic petroleum reserves (SPR), slower domestic economic growth, and aggressive moves into electric vehicles (EVs).
Elevated gas and diesel prices at the pump are driven not only by crude oil costs, but also by high refining margins ("crack spreads"), which have remained stretched due to attacks on Russian refining infrastructure.
Defying historical seasonal weakness, the S&P 500 gained roughly 2.7% in August. Leadership rotated beyond chip stocks into beaten-down areas like equal-weight software, cybersecurity, and energy.
Nvidia posted record quarterly revenue of $96.2 billion (up 106% year-over-year), with CEO Jensen Huang emphasizing that demand and AI compute acceleration remain robust.
Referencing historical events like the 1998 Long-Term Capital Management crisis, the hosts remind investors that every year features scary headlines and bad days, but long-term investors must endure short-term "rain" to capture market gains.
Jump to: 0:00 — Surprise Caller on Gas Prices 1:35 — Why Oil Is Not $200 4:10 — China’s Demand and SPR Release 6:10 — Crack Spreads and Refining Margins 8:02 — Listener Shoutouts and Bike Bus 9:28 — Dolly Parton and Market Perspective13:31 — 1998 LTCM and Bad Market Days15:35 — August Recap and Sector Leaders18:40 — Software Surge and AI Agents22:41 — Nvidia Earnings and AI Demand31:59 — Vendor Financing Hidden in Footnotes39:12 — Jackson Hole and Rate Uncertainty49:57 — Rising Yields and 1990s Parallels58:21 — Jobs Data Risks and September Myths1:07:23 — ISM Signals Hot Growth and WrapConnect with Ryan:• LinkedIn: https://www.linkedin.com/in/ryandetrick/• X: https://x.com/RyanDetrickConnect with Sonu:• LinkedIn: https://www.linkedin.com/in/sonu-varghese-phd/• X: https://x.com/sonusvarghese?lang=enQuestions about the show? We’d love to hear from you! factsvsfeelings@carsongroup.com
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Data center backlash is bipartisan and may last. Polling shows about 70% of voters disapprove of data centers, versus roughly even sentiment in September 2025. Libby expects more friction from state moratoriums, permitting, rolled-back incentives, and higher costs in 2027 and beyond.
Markets may prefer gridlock. Libby expects risk assets to respond better to a split Congress than a Democratic sweep, and Ryan notes the S&P 500 has averaged 13.7% annualized with a Republican president and split Congress, versus only 4.9% with a Democratic Congress, a figure skewed by 2008.
Deficits could rise under either outcome. Libby sees a path where Democrats back more defense and Iran-related spending in exchange for ACA subsidies and reversing Medicaid cuts, which could push bond yields higher.
A Democratic Senate would likely block controversial Fed nominees, easing worries about Fed independence. Libby also reminds listeners that Chair Warsh is just one vote of 12 on the FOMC.
Hyperscaler bonds have jumped from 1% to 2% of net new Treasury borrowing to about 14% over the last year. SpaceX has raised roughly $150 billion in four months, and its five-year CDS hit a record 200 basis points.
Bitcoin broke above $85,000 following the Fed meeting, and the hosts argue the failed Clarity Act may actually be bullish for crypto by keeping it outside mainstream finance and regulatory scrutiny.
Questions about the show? We’d love to hear from you! factsvsfeelings@carsongroup.com
The S&P 500's ~13% year-to-date return has been driven almost entirely by earnings growth and margin expansion (up 16 percentage points), which has fully offset a 15-point drag from multiple contraction as rates have risen.
