Podcast appearances and mentions of mike armstrong

Bond yields remain the market's biggest focus as investors weigh higher borrowing costs, a busy jobs week, and the next wave of AI spending.Mike Armstrong and Paul Lane discuss why the 10-year Treasury yield is drawing so much attention, how higher rates could affect housing and the coming AI CapEx cycle, and why the latest consumer confidence and job openings data point to a tight but slower labor market. They also break down OpenAI's decision to scrap a new model over safety concerns, what Anthropic's delayed IPO could reveal about the AI business model, why Oura postponed its IPO, and how Middle East oil flows and the auto industry are adjusting to a changing global market.

Interest rates are still climbing, mortgage rates have crossed 7.5%, and the labor market remains tight despite signs that some workers are struggling to find new jobs.Mike Armstrong and Paul Lane discuss why the bond market remains under pressure, how the AI buildout is keeping parts of the economy running hot, and why higher rates are hitting housing and traditional businesses harder than data centers and chipmakers. They also break down long-term unemployment, McKinsey's warning that AI could force millions of workers into new roles, IRA mistakes that can be difficult to undo, Vail's weak ski pass sales, falling birth rates, and the privacy trade-offs behind Meta's Muse AI agent.

Treasury yields are spiking again, and the pressure is starting to reach beyond mortgages and stocks into the massive borrowing needs behind the AI buildout.Mike Armstrong and Marc Fandetti discuss why the 10-year Treasury yield is climbing, why sharp moves in the bond market can expose problems for overleveraged investors, and how higher borrowing costs could challenge AI hyperscalers as their spending commitments begin to exceed operating cash flow. They also break down NVIDIA's new AI safety system, growing local resistance to data centers, how to spot when the AI boom may be losing momentum, and why seniors renting, college demographics, and foreign automakers competing in the U.S. all reveal bigger economic shifts.

Stocks are selling off, oil prices are rising, and Treasury yields are climbing again as investors brace for a busy week of jobs and inflation data.Mike Armstrong and Marc Fandetti discuss why the 10-year Treasury has become the most important price point in markets, what rising real rates may be signaling about inflation, AI investment, and the Middle East, and why stocks have held up better than expected despite the bond market pressure. They also break down why yield curve inversion fears may be premature, how oil and bond markets are reacting to geopolitical risk, what came out of the latest U.S.-China meeting, and what this week's inflation and jobs reports could mean for the Fed's next move.

Mortgage rates are moving higher fast as the bond market selloff continues, raising new pressure on buyers, sellers, and the broader housing market.Chuck Zodda and Mike Armstrong discuss why the 10-year Treasury is still climbing, why mortgage rates are approaching 7.5%, and how a move toward 9% mortgages could happen if Treasury yields and lending spreads keep rising. They also break down whether higher rates are really aimed at consumers, why Oracle's AI data center deal is raising new concerns, why minivans are making a comeback, and Paul LaMonica of Barron's joins to discuss Meta's Muse rally and whether Wall Street is overreacting to consumer AI hype.

The bond market is getting more volatile as the 10-year Treasury climbs above 5.2%, pushing mortgage rates higher and raising questions about whether the move is becoming disorderly.Chuck Zodda and Mike Armstrong discuss why bond yields are rising, why the move does not necessarily signal a loss of trust in the U.S. government, and how stronger economic data, sticky inflation, and expectations for Fed hikes are driving the selloff. They also break down the link between oil, diesel prices, and bond yields, why today's energy disruptions may be more serious than past market scares, and how prediction markets and sports betting are blurring the line between investing and gambling.

The bond market is back in focus as the 10-year Treasury climbs to levels not seen since before the financial crisis, raising new questions about mortgages, inflation, and the cost of borrowing.Chuck Zodda and Mike Armstrong discuss why long-term Treasury yields are moving higher, why the low-rate environment of the 2010s may not be coming back soon, and how stronger nominal growth, higher inflation, AI investment, and federal deficits are shaping the bond market. They also break down what rising yields mean for mortgage rates and housing, whether Treasury could try to reduce long-term bond issuance, what John Williams' latest comments suggest about Fed policy, and why U.S.-China trade talks may mostly preserve the status quo.

Rising Treasury yields are pushing borrowing costs higher again, and the gap between today's mortgage rates and existing homeowners' rates is keeping more houses off the market.Chuck Zodda and Mike Armstrong discuss why markets are drifting lower, why diesel prices remain under pressure, and why a proposed diesel export ban is drawing pushback from business groups. They also break down how low fixed-rate mortgages are limiting housing supply, why homeownership still carries major financial advantages, and what OpenAI's latest security incidents could mean for AI agents, cyber risks, and retirement savings.

Stocks are holding up as AI keeps driving market momentum, but higher diesel prices and elevated interest rates are creating pressure across much of the rest of the economy.Mike Armstrong and Paul Lane discuss why the latest rally is still being led by tech and AI-related names, why a scary-sounding market signal from 1999 may not matter much, and how AI investment has become the dominant force behind both stock market gains and economic growth. They also break down the ripple effects of record-high diesel prices, the debate over a gas tax holiday in Massachusetts, why higher interest rates have not slowed the economy yet, and whether the U.S. bond market is really performing as well as Treasury Secretary Scott Bessent claims.

AI stocks are bouncing back, but the industry is still facing major questions about consumer adoption, liability, and whether the data center boom can keep powering the market.Mike Armstrong and Paul Lane discuss Meta's new AI agent, why the Magnificent Seven are roaring back, and whether companies like Meta and Google can turn consumer AI into a real business. They also break down how the stock market boom is encouraging more Americans to retire early, Corey Adams of Robert Half joins to discuss Gen Z's changing expectations in the workplace, and Mike and Paul examine lawsuits facing OpenAI, skepticism around the data center boom, and the rising cost of youth sports.

A quiet week for economic data is being overshadowed by rising diesel prices, new refinery strikes in Russia, and uncertainty over how long global fuel pressure can last.Chuck Zodda and Mike Armstrong discuss why diesel has climbed above $6.50 for the first time, how attacks on Russian refineries and Middle East disruptions are tightening global supply, and why high diesel prices hit the economy differently than high gasoline prices. They also break down the impact on home heating oil, food costs, trucking, and household budgets, plus the Paramount and Warner Brothers Discovery merger settlement, U.S.-China talks, and concerns about how DraftKings uses AI to target gamblers most likely to lose.

Markets are holding near record highs, but investors are still trying to understand what bond yields, AI concentration, and higher borrowing costs are really signaling.Chuck Zodda and Mike Armstrong discuss why stocks have been stuck in a choppy range, what cross-market signals from bonds, the dollar, and gold may say about confidence in the U.S. economy, and why apartment landlords may be able to manage a wave of refinancing pressure. They also break down why car prices are getting harder to compare, how early retirees can think about health insurance before Medicare, why AI may be becoming too interconnected to fail, and the difficult tradeoffs facing first-time homebuyers.

Markets are testing whether stocks can keep climbing through another rate hike cycle, especially with AI spending still driving much of the economy's momentum.Chuck Zodda and Mike Armstrong discuss why Wall Street may be able to handle a few more Fed hikes, how AI investment has become the main engine behind the market, and why higher rates may affect housing, small businesses, and consumers very differently than the tech companies leading the rally. They also break down why many Americans lack confidence in meeting future financial needs, how to think about retirement projections, and Paul LaMonica of Barron's joins to discuss Nike's struggles, its possible removal from the Dow, and growing competition from On and New Balance.

Diesel has climbed to $6.45 a gallon, and the ripple effects are starting to show up across shipping, food, construction, holiday retail, and home heating costs.Chuck Zodda and Mike Armstrong discuss why diesel inflation is different from higher gasoline prices, how rising fuel costs are feeding into interest rates and mortgage rates, and why AI data center spending may be harder to slow than the rest of the economy. They also break down the debate over a possible diesel export ban, why that could lower prices briefly but create bigger problems later, the latest legal trouble for OpenAI and Microsoft in their fight with The New York Times, and Warren Buffett stepping down as Berkshire Hathaway chairman.

The Fed has raised rates for the first time in three years, but investors may still be underestimating how much more tightening could be ahead.Chuck Zodda and Mike Armstrong discuss Kevin Warsh's post-meeting performance, why the Fed's dot plot and the rates market are sending different messages, and whether stronger labor data could force additional hikes. They also break down why a Fed rate hike could actually help bring mortgage rates lower, how diesel prices are still pressuring the economy, and why higher rates, labor shortages, and rising input costs are making life harder for home builders.

Stocks and bonds are rallying after the Fed's first rate hike in three years, but higher fuel prices and stubborn inflation risks are still complicating the path ahead.Chuck Zodda and Mike Armstrong discuss why markets are reacting more positively after Kevin Warsh's latest Fed meeting, why short-term rate hikes do not directly control mortgage rates, and how flows and positioning can drive market moves more than simple headlines. They also break down why diesel prices remain a major economic problem, whether the global economy is running out of supply buffers, why AI spending is still reshaping markets, and how concerns around Anthropic, OpenAI, and AI safety could affect future IPOs.

Markets are selling off as Treasury yields climb, AI concerns grow louder, and Washington's debt debate adds another layer of uncertainty ahead of the Fed decision.Mike Armstrong and Marc Fandetti discuss why rising Treasury yields are driving markets, how higher rates affect mortgages, bonds, deficits, and stock valuations, and why AI investment and fiscal concerns may both be contributing to the move. They also break down growing AI safety concerns, whether the AI trade could be vulnerable to a slowdown, why traditional bond investors have struggled, and why a proposed $5,000 “dividend” check could worsen inflation and push rates even higher.

The 10-year Treasury yield is back around 5%, mortgage rates are above 7%, and tomorrow's Fed decision could determine whether bond investors believe Kevin Warsh is serious about inflation.Mike Armstrong and Marc Fandetti discuss why rising yields are putting pressure on borrowers, bond investors, and the federal government. They break down why higher rates have hurt existing bondholders, why deficits may be adding to market stress, and why Marc says Treasury Secretary Scott Bessent's “grow our way out of it” argument lacks credibility. They also look ahead to the Fed's three-part decision day, how diesel prices could complicate the inflation fight, and why cheap used cars have become so hard to find.

Diesel prices are still climbing, Brent crude is nearing $110, and the pressure in refined fuel markets is becoming harder for investors, consumers, and the Fed to ignore.Chuck Zodda and Mike Armstrong discuss why the latest market selloff remains modest, why diesel prices could move toward $7 a gallon, and how tight refined product markets may feed into food, freight, home heating, and broader inflation. Andy Critchlow of Dow Jones Energy joins the show to explain why diesel is in such short supply, how a U.S. export ban could affect global markets, and why the world is running out of energy buffers. They also cover inflation protection for retirement portfolios, Social Security COLA estimates, Medicare cost concerns, and the growing problem of social media stunts and public recording.

Some of the biggest names in AI are now calling for a slowdown, raising new questions about safety, competition, and the future of the tech trade.Chuck Zodda and Mike Armstrong discuss why Anthropic, OpenAI, and xAI leaders are suddenly agreeing that AI development may need stronger guardrails, why a slowdown could matter for the broader economy, and how data center spending has become a major driver of markets. They also break down why the 10-year Treasury yield hit 5%, how higher rates could affect mortgages, government borrowing, and risk assets, and why the next Fed meeting could put Kevin Warsh on a collision course with President Trump.

CPI came in close to expectations, but one noisy piece of the report is raising new questions about whether the Fed will actually hike rates next week.Chuck Zodda and Mike Armstrong discuss why August CPI may not give the Fed a clean answer, how wireless phone services distorted the super core inflation reading, and why diesel prices could make September inflation look very different. They also break down Oracle's AI spending challenge, why Congress is waking up to AI risks, how bad actors are already misusing AI tools, the future of Social Security and retirement, NIL money flowing into college athletes' real estate purchases, and Paul LaMonica's look at a new UC Investments ETF strategy.

Consumer prices came in hot enough to keep a rate hike on the table, while diesel prices crossed $6 a gallon nationwide for the first time ever.Chuck Zodda and Mike Armstrong discuss why the latest CPI report gives the Fed little cover to stay on hold, why markets are pricing in multiple rate hikes, and what the bond market is saying about growth and inflation expectations. They also break down how years of inflation have changed everyday prices, why diesel prices could climb even further in the coming weeks, and how rising fuel costs may ripple through shipping, home heating oil, and the broader economy.

Stocks are drifting lower, but the bigger pressure is coming from the bond and energy markets as Treasury yields approach 5% and diesel prices move toward record territory.Chuck Zodda and Mike Armstrong discuss why equities are not the main concern right now, how rising oil prices are moving almost tick for tick with bond yields, and why diesel prices could ripple through nearly every part of the economy. Michael Santoli of CNBC joins the show to explain why stocks are caught between higher rates, higher oil, and strong AI earnings. They also cover whether failed bank resolution rules remain inadequate, the biggest retirement fears facing Americans, why long-term care planning matters, college cost pressures, and new legal questions surrounding AI and Section 230.

Bond yields are climbing, diesel prices are surging, and the Fed is heading into next week's meeting with fresh inflation pressure building across the economy.Chuck Zodda and Mike Armstrong discuss why jobless claims still show a stable labor market, why producer prices remain hotter than the Fed would like, and how the latest move in Treasury yields could push mortgage rates back above 7%. They also break down why diesel prices may clear $6 a gallon, how fuel costs could ripple through shipping, construction, groceries, and home heating oil, and why a proposed $5,000 stimulus check could add even more inflation risk. Plus, they examine AI safety concerns and the question of how advanced AI could create real-world dangers.

September has a rough reputation for stocks, but investors have bigger issues to watch this year as inflation data, rising energy prices, and the Fed's next rate decision all converge.Mike Armstrong and Paul Lane discuss why September is historically the weakest month for the S&P 500, why investors should be careful about overreacting to seasonal market stats, and how diesel prices near record highs could affect shipping, groceries, heating oil, and inflation. They also break down the upcoming Fed meeting, what the latest jobs report says about the labor market, why rate cuts look unlikely if inflation remains elevated, and how Scott Bessent's yen intervention could matter for Treasury yields and borrowing costs.

Investors are heading into a pivotal week with inflation data, rising energy prices, and the Fed's next rate decision all in focus.Mike Armstrong and Paul Lane discuss why the Fed's September meeting could become a major credibility moment, how higher interest rates can pressure stocks, and why AI remains the driving force behind the market rally. Luke Kawa of Sherwood News joins the show to break down the Magnificent Seven, Oracle's role as an OpenAI proxy, and what credit markets may reveal about the AI CapEx boom. They also cover diesel prices, the FIRE movement, Hollywood's changing box office math, and the return of pension plans.

Diesel prices have hit a new all time high, and energy expert Tom Kloza warns the pressure on diesel and heating oil could get worse heading into the winter.Chuck Zodda and Mike Armstrong discuss the stronger than expected August jobs report, why the labor market still looks steady, and why the economy may be able to withstand higher interest rates. Tom Kloza, chief energy advisor for Gulf Oil and co-founder of OPIS, joins the show to explain why global refining capacity is under pressure, why diesel and heating oil supplies are especially tight, and what could drive prices even higher. They also cover mortgage rates near 7%, whether data centers hurt home values, Paul LaMonica's outlook for healthcare stocks, and Tesla's steering wheel-free Cybercab.

The August jobs report came in stronger than expected, keeping the labor market on solid footing and raising more questions about whether the Fed can justify leaving rates unchanged.Chuck Zodda and Mike Armstrong discuss why 162,000 jobs added in August reinforces the view that the labor market is not the problem facing the economy, and why the Fed's next decision may come down to whether inflation remains too high. They also break down President Trump's call for lower interest rates, why stronger growth does not automatically mean lower Treasury yields, diesel prices hitting a new all time high, and why the sandwich generation is facing rising pressure from aging parents, children, and long term care costs.

After months of market attention on war and AI, bond yields are now driving the conversation as investors weigh inflation, deficits, demand for Treasuries, and the Fed's next move.Chuck Zodda and Mike Armstrong discuss why bond yields are rising, why the explanation is more complicated than simply blaming the deficit, and how a changing rate environment could affect balanced portfolios. They also cover why future job reports may look underwhelming, how flat labor supply could keep wage and inflation pressure elevated, why renters investing instead of buying homes need discipline, and how financial scams are becoming harder to prevent as AI makes them more convincing.

Diesel prices are just cents away from an all time high, raising fresh concerns about shipping costs, home heating oil, and inflation heading into the fall.Chuck Zodda and Mike Armstrong discuss why diesel inventories are especially tight on the East Coast, what could help ease the refined fuel shortage, and why Venezuela's oil industry is unlikely to provide a quick fix for gas prices. They also cover the courts' struggle to rein in Big Tech, rising 401k millionaire balances, the hidden costs of saving too much for retirement, joyful spending, and why AI generated restaurant photos are creating another backlash against the technology.

Apple begins a new chapter as John Ternus takes over from Tim Cook, raising questions about the company's AI strategy, supply chain power, and future direction.Mike Armstrong and Marc Fandetti discuss the market selloff, rising oil prices, higher mortgage rates, and what the latest JOLTS report says about the labor market ahead of the Fed's September meeting. They also break down Apple's leadership change, why the company may be at an important crossroads, whether the Fed needs to hike rates to protect its credibility, and why retirement relocation decisions often come down to more than taxes. Plus, they cover Chinese cars, protectionism, sports betting, and the growing line between investing and gambling.

Global bond yields are rising, stocks are under pressure, and the latest jobs data is giving the Fed more to consider ahead of its September meeting.Mike Armstrong and Marc Fandetti discuss why long term rates are moving higher around the world, what a new rate regime could mean for borrowers, stocks, and governments, and why the JOLTS report keeps the labor market picture mostly steady. They also break down the biggest unanswered question in AI, whether the massive CapEx boom can eventually produce enough revenue, and why private market investments tied to companies like SpaceX are drawing more scrutiny from regulators.

Social Security's trust fund is projected to run short in 2032, and Congress is only now beginning to talk about what a fix might look like.Chuck Zodda and Mike Armstrong discuss why Social Security reform is getting harder the longer lawmakers wait, the three main levers available to address the shortfall, and why any solution is likely to create political and generational conflict. They also cover Apple's leadership change, what John Ternus may mean for the company's AI strategy, rising diesel prices, retirement housing choices, the economic fallout from a powerful El Niño, and why financial scams remain a major risk for consumers.

Kevin Warsh's Jackson Hole speech reassured markets for a moment, but investors are already questioning whether the Fed will follow through with action at its September meeting.Chuck Zodda and Mike Armstrong discuss why bond markets are still testing Warsh, whether the Fed may hike rates on September 16, and how upcoming jobs and inflation reports could shape the decision. They also cover Todd Lutsky's explanation of last minute Medicaid eligibility, why investors may need to be on alert heading into September, the strength of corporate profits, and the sudden unraveling of Wall Street's momentum trade.

Nvidia's latest earnings show demand for AI chips is still running hot, but the bigger question is whether the companies spending trillions on AI infrastructure can generate enough revenue to justify it.In this episode of The Financial Exchange, Chuck Zodda and Mike Armstrong break down Nvidia's earnings, its massive revenue growth guidance, and the scale of the company's one day market cap move. They also discuss Nvidia's reported deal to buy Hugging Face, concerns about AI agents acting in unexpected ways, and Meta's multibillion dollar settlement over social media's impact on teens. Plus, Marybeth Mattingly from the Federal Reserve Bank of Boston joins the show to discuss new research on wealth in Massachusetts, including gaps by age, homeownership, education, and race.

Nvidia's latest earnings sent the stock higher, but the real story was guidance showing that demand for AI chips is still accelerating.In this episode of The Financial Exchange, Chuck Zodda and Mike Armstrong break down Nvidia's revenue outlook, the scale of its one day market cap jump, and the bigger question of whether hyperscalers can generate enough revenue to support trillions in AI spending. They also discuss why bond yields are not the market's new fear index, what rising yields may really be signaling, and the medical breakthroughs that could transform cancer treatment. Plus, they cover Oura, Whoop, health tech anxiety, the state of the economy, and Hugging Face's new MicroDuck robot.

AI is changing how people search for answers, but Mike Armstrong and Paul Lane question whether it can replace the human side of financial guidance.In this episode of The Financial Exchange, Mike and Paul discuss Kevin Warsh's upcoming Jackson Hole speech, the tension between the Fed and Treasury over long term rates, and what investors need to understand before rolling over a 401k. They also cover why financial advisors still matter in the age of AI, Walmart's push to lower grocery prices, Aldi's growing impact on the supermarket business, new IPO talk around Dunkin' and Oura, and the challenge parents face as AI becomes more common for kids and teens.

Nvidia earnings are back in focus, but the bigger story may be how deeply the company is tying itself to the customers driving the AI boom.In this episode of The Financial Exchange, Mike Armstrong and Paul Lane discuss why Scott Bessent's “economic D-Day” for Iran fell short of expectations, why China remains the key player in any real sanctions push, and how Treasury actions are affecting bond markets and borrowing costs. They also break down Nvidia's growing role in financing AI infrastructure, the risks created when AI companies become financially linked to each other, and why Korea's wild stock market selloff is another warning about leverage, margin, and knowing what you own

Treasury Secretary Scott Bessent wants long term yields lower, while Fed Chair Kevin Warsh has argued that markets should do more of the work. That tension is becoming one of the biggest stories for investors.In this episode of The Financial Exchange, Chuck Zodda and Mike Armstrong discuss the renewed U.S.-Canada trade dispute, Bessent's warning of an “economic D-Day” for Iran, and whether China and India may determine if tougher sanctions actually work. They also examine whether the Treasury could use its general account to fund bond buybacks, why that may only delay the borrowing problem, and what Warsh needs to address at Jackson Hole as markets weigh the Fed, inflation, gold, and long term rates.

Nvidia reports earnings this week, and investors are watching to see whether the company can keep justifying the massive expectations built around the AI trade.In this episode of The Financial Exchange, Chuck Zodda and Mike Armstrong discuss why Nvidia has become one of the most important companies in the world, how its revenue has exploded since the launch of ChatGPT, and why AI companies are becoming increasingly tied together through financing and customer relationships. They also cover the push toward 23-hour stock trading, why it may benefit exchanges more than long-term investors, whether Gen Z should rely on stocks instead of housing to build wealth, and why mold lawsuits are becoming a bigger issue for homebuilders.

The national debt has crossed $40 trillion, but Chuck Zodda and Mike Armstrong argue that the usual panic over deficits, bond vigilantes, and the dollar losing reserve currency status often ignores how markets actually work.Chuck and Mike discuss why higher Treasury yields are not automatically explained by the deficit, why investors should be careful about predictions of the dollar's demise, and why Social Security, Medicare, interest, and defense remain the real federal spending challenges. They also cover rising diesel prices, Anthropic's potential record setting IPO, concerns over super voting shares, and how a large 401k balance can create future tax planning issues. Plus, Paul LaMonica of Barron's joins the show to explain why Chinese IPOs are surging, how government priorities are shaping investor interest in robotics and AI chips, and why political risk remains a major concern for Chinese stocks.

Treasury Secretary Scott Bessent's effort to push down long term yields has already been challenged by the bond market, raising questions about whether talk and limited buybacks will be enough.Chuck Zodda and Mike Armstrong explain why the Treasury's buyback announcement has failed to meaningfully lower long term rates, why the Fed and Treasury appear to be sending different messages, and why Kevin Warsh's upcoming Jackson Hole speech could be a major test for markets. They also discuss why Treasury yields affect mortgages, corporate borrowing, savings rates, and stocks. Plus, they cover retail earnings, pressure on consumers from gas prices, rising healthcare costs, and why ghost job postings may frustrate job seekers without requiring government intervention.

Walmart shares fell sharply after the retail giant posted slower same store sales growth, raising questions about whether investors have been pricing the company for more growth than it can deliver.Chuck Zodda and Mike Armstrong discuss why Walmart's earnings disappointed despite decent results, why the bond market remains in control of borrowing costs, and why Treasury efforts to push down long term yields may not be enough. They also explain how higher Treasury rates affect mortgages, business loans, and corporate borrowing. Plus, they break down why diesel prices and crack spreads could become a major inflation problem this fall, especially for shipping, farming, and home heating oil in the Northeast.

AI spending has powered markets higher, but the next two years could determine whether the boom turns into lasting profits or becomes another bubble that investors were too willing to chase.Chuck Zodda and Mike Armstrong discuss Bill Dudley's warning that the stock market bubble could burst before the end of 2027, why hyperscalers may struggle to generate enough revenue to justify trillions in AI investment, and why OpenAI's rising revenue has not yet solved its widening loss problem. They also break down the growing conflict between Treasury Secretary Scott Bessent and Fed Chair Kevin Warsh over long term yields, why Treasury buybacks could complicate the Fed's next decision, and why investors are watching gold, the dollar, and bond yields so closely. Plus, they cover personalized pricing, the $20 burrito debate, Blue Apron's struggles, and Costco's move into Medicare plans.

Long term government bond yields have reached their highest levels in nearly two decades, but rising rates cannot be blamed on deficits alone.Mike Armstrong and Marc Fandetti explain how bond prices and yields move, why inflation expectations and changing investor demand can push borrowing costs higher, and why the global nature of the selloff matters. They also discuss Home Depot's struggle with a frozen housing market, the expansion of buy now pay later loans into groceries and utility bills, and whether that trend signals growing consumer stress. Plus, they examine financial pressure on Massachusetts universities and Kevin Warsh's effort to rethink how the Federal Reserve communicates policy and measures inflation.

Stocks have delivered exceptional returns despite a pandemic, inflation, wars, banking stress, rising rates, and repeated recession fears. But high valuations and the enormous expectations surrounding AI mean the next several years may look very different.Mike Armstrong and Marc Fandetti discuss why long term investors have historically been rewarded for staying invested, how retirement does not automatically eliminate a decades long investment horizon, and why becoming too conservative can leave a portfolio vulnerable to inflation. They also examine how rising Treasury yields worsen the government's debt problem, why bondholders may ultimately be repaid in dollars with less purchasing power, and what could threaten the dollar's reserve currency advantage. Plus, Dan Stack explains why the DAV 5K Boston sold out months in advance, and the show covers falling auto insurance premiums, rising sugar prices, GLP 1 restaurant menus, and why lower airline fares may not be coming anytime soon.

The 2026 DAV 5K Boston sold out 82 days before race day, marking the event's sixth consecutive sellout and highlighting the community's commitment to honoring and supporting veterans.Dan Stack, CEO of the Disabled American Veterans Department of Massachusetts, joins Mike Armstrong to explain what makes the November 7 event at Castle Island so special. They discuss the hundreds of veterans participating, the Howitzers and Boston fire boat, the Heroes on the Hill tribute, and the DAV programs that help veterans with benefit claims, transportation to medical appointments, housing, and other essential services. Dan also shares details about the Applied Underwriters Invitational golf tournament at Granite Links.

Big Tech earnings have helped push stocks higher, but some of those profits are coming from rising private company valuations and financing arrangements that may not reflect the strength of the underlying businesses.Chuck Zodda and Mike Armstrong examine whether the latest earnings boom is partly an accounting mirage, how future depreciation from massive AI infrastructure spending could pressure profits, and how much new revenue hyperscalers may need to justify more than $1 trillion in annual capital expenditures. They also discuss why the home improvement slump may continue, how Walmart has pulled away from Target and other large retailers, and why financial advice on TikTok can make users more confident without making them more knowledgeable. Plus, they debate government ownership of AI companies, price controls, and the risks of trying to redistribute wealth created by the AI boom.

Stocks are on pace for a fourth consecutive year of double digit gains, but the growing influence of AI has made the broader market far less diversified than many investors may realize.Chuck Zodda and Mike Armstrong discuss whether investors should hedge after the market's extended run, why long term investors should think differently from short term traders, and how concentrated positions can take years to recover after a crash. They also examine how much of the S&P 500 is now tied to the AI trade, why government deficits and massive corporate spending continue to support the economy, and whether AI borrowing is really responsible for rising Treasury yields. Plus, they look at wages falling behind inflation and the potential advantages and reputational risks of frequently changing jobs.

Retail sales disappointed in July, but the market reaction suggests consumer weakness may not carry the same economic weight it once did.Chuck Zodda and Mike Armstrong explain why weaker consumer spending is being offset by massive corporate capital expenditures, AI infrastructure investment, and persistent federal deficits. They also discuss the costliest 30 year Treasury auction since 2001, why higher bond yields cannot be blamed on deficits alone, and what it would actually take for Washington to address the country's fiscal problems. Plus, they look at how investments in Anthropic and other private AI companies are boosting Big Tech earnings, why the largest technology firms have become increasingly tied to one another, President Trump's proposed drone tariffs, and the economic boost Boston received from the World Cup.