Ep.87- The Big Short-Squeeze: Mid-Month Market Update

Did you know we’re currently short 800 billion dollars on the 10-year treasury? Hedge funds are taking notice, and in this episode, we discuss what this could mean for the market if Federal Reserve Chairman Powell makes a statement at the Jackson Hole meeting this Friday. Get some insight into how shorting works without actually owning an item and how it can affect the debt levels of consumers. We’ll also update you on the insane U.S. credit card debt situation, the lasting effects of Covid-19 on small businesses, existing home sales, and the recent jobs report. 

Lots here to unpack today, so grab a coffee, sit back, and get ahead of the game with the latest mid-month market news!

[00:01 - 03:53] $800 billion shorts on 10-year treasury while hedge funds are betting on market movements 

[03:54 - 07:04] Consumer credit card debt reaches new record highs as student loan payments loom

[07:05 - 10:34] All-time low confidence in small businesses despite high existing home sales and ADP report

[10:35 - 14:59] The Fed’s approach to the job reports are in question after an unexpected revision 

Quotes:

“The short on the 10-year [Treasury] is north of $800 Billion. The 10-year yield has been under some pressure." - Quinton Harris

"The demand that we continue to talk about those 90s babies, the people that are on the sidelines that have been wanting to buy are still buying this market, regardless of the rate they're stepping up." - Quinton Harris

"These numbers come out, and I was like, well, we messed up. You're not getting any benefit of them saying we messed up, you know, because it's not even temporary." - Quinton Harris

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