The Bond Market Is Calling Warsh's Bluff

Apex Fintech Solutions provides the tools and services that enable hundreds of clients to launch, scale, and support digital investing for tens of millions of end investors. The company provides essential infrastructure and a comprehensive ecosystem of cloud-based products to enable and streamline trading, wealth management, cost basis, tax reporting, and, through its subsidiary Apex Clearing™, custody and clearing LEARN MORE: https://apexfintechsolutions.com/?utm_source=Risk+Reversal&utm_medium=Podcast&utm_campaign=701PJ00000fnXhaYAE On today's show, Dan Nathan and Guy Adami break down a wild Thursday in the markets: Microsoft up 15% and Meta down 9% post-earnings, a huge bounce in semis and memory names, and software getting crushed. Guy makes the case that this price action looks more like a topping formation than a bottom. They dig into Fed Chair Kevin Warsh's post-meeting commentary and the bond market selloff it triggered, Bank of Japan intervention on the yen (and what it could mean for volatility), the dollar's potential breakout, Goldman Sachs and Morgan Stanley's pullback from all-time highs, China's AI and chip progress and what it means for KWEB, and where gold goes next after holding the $4,000 level. Plus, Dan sits down with Tim McCourt, Senior Managing Director and Global Head of Equity, FX and Alternative Products at CME Group, to talk about the newly launched Single Stock Futures — how they work, why CME launched them now during earnings season, and how traders can use them alongside stocks, ETFs, and options for risk management. Timecodes 0:00 - Intro 3:45 - Software 6:05 - Economic Picture 8:15 - Fed Commentary 10:45 - Dollar Weakness 14:00 - Banks 16:15 - Chinese Tech 20:45 - Tim McCourt Interview Articles Mentioned - https://www.apollo.com/wealth/insights-news/insights/daily-spark/ai-lowers-wages-but-doesnt-cut-jobs - https://www.axios.com/2026/07/30/warsh-fed-inflation-bonds - https://insight.factset.com/topic/earnings — FOLLOW US Instagram: https://www.instagram.com/riskreversalmedia/ Twitter: https://x.com/riskreversal LinkedIn: https://www.linkedin.com/company/riskreversalmedia #investing #stocks #stockmarket The financial opinions expressed in Risk Reversal content are for information purposes only. The opinions expressed by the hosts and participants are not an attempt to influence specific trading behavior, investments, or strategies. Past performance does not necessarily predict future outcomes. No specific results or profits are assured when relying on Risk Reversal. Before making any investment or trade, evaluate its suitability for your circumstances and consider consulting your own financial or investment advisor. The financial products discussed in Risk Reversal carry a high level of risk and may not be appropriate for many investors. If you have uncertainties, it's advisable to seek professional advice. Remember that trading involves a risk to your capital, so only invest money that you can afford to lose. Derivatives are not suitable for all investors and involve the risk of losing more than the amount originally deposited and any profit you might have made. This communication is not a recommendation or offer to buy, sell or retain any specific investment or service.