Bond Market Is Screaming, Kevin Warsh Just Got the Job — And YouTube's Finance Brain Trust Is Sweating
Bloomberg, CNBC, Fundstrat, and Cramer all agree on one thing: the bond market is the only chart that matters right now
Ticker Ratings
| Ticker | Rating | Entry Price | Current | $ Gain | % Gain |
|---|---|---|---|---|---|
| DELL Dell Technologies Inc. | buy | $294.90 | — | — | — |
| CRM Salesforce, Inc. | sell | $179.67 | — | — | — |
| QCOM QUALCOMM INC/DE | buy | $237.24 | — | — | — |
| IMAX IMAX CORP | buy | $39.62 | — | — | — |
| TTWO TAKE TWO INTERACTIVE SOFTWARE INC | buy | $227.79 | — | — | — |
| WDAY Workday, Inc. | buy | $127.75 | — | — | — |
| INTU INTUIT INC. | sell | $318.50 | — | — | — |
| MU MICRON TECHNOLOGY INC | buy | $745.56 | — | — | — |
| ZM Zoom Communications, Inc. | hold | $105.40 | — | — | — |
| FUTU Futu Holdings Ltd | sell | $89.74 | — | — | — |
The vibe shift is real. Eight weeks ago, Wall Street was pricing in rate cuts. Now, with Kevin Warsh sworn in as the 17th Fed Chair, Fed Governor Chris Waller is openly saying hikes are back on the table — and bond traders have fully priced one in. The 30-year Treasury yield just hit its highest level in nearly 20 years, Bloomberg's Big Take calls it a 'penny drop moment' for global investors, and former Dallas Fed President Rob Kaplan told Bloomberg there may be zero rate moves in 2025. Cool, cool, totally fine.
Meanwhile, the macro backdrop is a fever dream: consumer sentiment crashed to a record low of 44.8 (University of Michigan, May final), one-year inflation expectations hit 4.8% — the highest since the 1980s — and oil is sitting at $96.60/barrel with the Strait of Hormuz still closed after three months of US-Iran conflict. Beef is $6.90/lb. Ground beef is up 14.5% year-over-year. Your Memorial Day cookout is a macro event now.
Fundstrat is the lone contrarian, pointing to Goldman prime brokerage data showing short interest rising at the fastest pace in 15 years and arguing that's actually a bullish signal — market tops don't look this scared. Meanwhile, $DELL is up 135% year-to-date, Michael Dell added $12.5 billion to his net worth in a single day, and Dan Ives of Wedbush is still out here calling AI the 'second or third inning.' Somehow the S&P 500 just posted its longest weekly winning streak since 2023. The market is not okay, and yet it absolutely is.