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On The Tape

Canary in the Coal Mine with Stuart Sopp of Current

On The Tape

RiskReversal Media

News, Business, Investing, Business News

4.6757 Ratings

🗓️ 24 March 2023

⏱️ 50 minutes

🧾️ Download transcript

Summary

Guy, Dan and Danny are joined by Stuart Sopp, CEO of Current, to discuss the Fed’s reaction to the regional bank bloodbath/Silicon Valley Bank debacle (2:00), Charles Schwab CEO saying the company can ride out a deposit flight (14:00), the health of the consumer (24:30), commercial real estate (30:00), Danny’s new STFU acronym (39:00), stock market valuations (45:00), and the guys answer listener questions (48:00). Check out the Bob Elliot tweet thread here About the Show: On The Tape is a weekly podcast with CNBC Fast Money’s Guy Adami, Dan Nathan and Danny Moses. They’re offering takes on the biggest market-moving headlines of the week, trade ideas, in-depth analysis, tips and advice. Each episode, they are joined by prominent Wall Street participants to help viewers make smarter investment decisions. Bear market, bull market, recession, inflation or deflation… we’re here to help guide your portfolio into the green. Risk Reversal brings you years of experience from former Wall Street insiders trading stocks to experts in the commodity market. See what adding futures can do for you at cmegroup.com/onthetape. Shoot us an email at [email protected] with any feedback, suggestions, or questions for us to answer on the pod and follow us @OnTheTapePod. We’re on social: Follow Dan Nathan @RiskReversal on Twitter Follow @GuyAdami on Twitter Follow Danny Moses @DMoses34 on Twitter Follow Liz Young @LizYoungStrat on Twitter Follow us on Instagram @RiskReversalMedia Subscribe to our YouTube page

Transcript

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0:00.0

I know you folks have come to expect a title of the song from me.

0:05.8

And by the way, Dan Nathan is in fact back from his hiatus, his vacation.

0:09.8

Dan, how are you?

0:10.3

I'm doing great.

0:11.0

I'm back.

0:11.5

Of course, we're joined by Danny Moses.

0:13.0

We got a special guest for you.

0:14.8

Stuart Sop, CEO and co-founder of Current, will be joining us in just a second.

0:24.3

But in 1980, I believe I was a sophomore in college and the police, Danny Moses, you may remember this, they released their album,

0:28.9

Zanjada Mandata, right? You recall that? And one of the songs on that album, Dan, was Canary

0:35.0

in the Coal Mine. By the way, you are listening to the On the Tape podcast.

0:38.5

I am Guy Adami, Danny Moses, Dan Nathan. And I mentioned Canary in the Coal Mine because I got

0:44.1

to tell you something. And it's great we have Stewart on board today. These banks, to me,

0:49.3

especially over the last few days, are exactly that they are the aforementioned Canary and the

0:55.4

coal mine. So, Dan, how are you? Welcome back. I'm doing well. We've been doing a lot of content

0:58.9

all week, and it's kind of interesting. We're going to talk about some of the themes in the markets.

1:02.4

This push into mega-cap tech, it just seems like flight to quality, flight disability, whatever

1:06.5

the heck you want to call it. I mean, but the backdrop has been continuing weakening of regional banks,

1:12.2

despite what regulators all over the world, not just here, but also obviously in Switzerland

1:16.9

are doing and saying extraordinary measures that they are taking, at least from a sentiment standpoint,

1:21.3

shore up these things. But the price action is really bad, and it's really bad here. We're

1:25.2

Thursday into the close here. So we're going to talk about all of that. All right, before we get to Stewart, though, Guy, should we do a little

...

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