Stop Worrying and Love The Bond + All Things Oil with Brent Belote

RiskReversal Pod

RiskReversal Media

News, Investing, Business, Business News

4.6 • 757 Ratings

🗓️ 30 October 2023

⏱️ 55 minutes

🔗️ Recording | iTunes | RSS

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Summary

Dan Nathan and Liz Young discuss last week’s price action for the S&P 500 (6:00). McDonald’s revenue climbs (8:00). Liz looks at monthly personal spending (11:00). Treasury refunding happening this week (15:45). The financial world still looks to Japan and its yield curve control (19:30). It’s time to stop crying about bonds and start buying them instead (24:00). Apple is holding a “Scary Fast” Mac event tonight (28:20). Eli Lilly and Novo Nordisk report on Thursday (34:00) Later, Danny Moses joins Guy for a conversation with Brent Belote of Cayler Capital. The three discuss Brent’s trading background (41:30), why we are in the golden age of energy and resource stocks (43:45), oil demand (45:00), WTI crude vs. Brent crude (46:00), oil volatility (47:00), geopolitical risks (50:00), how other asset classes impact the price of oil (51:30), daily liquidity (53:00), the three best things that have happened to the energy space (53:45), Brent’s investment process (56:00), who he is following in the energy space (57:00), being a trader vs. an investor (58:00), and key reasons to invest with Cayler Capital (59:30). — 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. — Check out our show notes here Learn more about Ro body: ro.co/tape 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 on Twitter or @riskreversalmedia on Threads — We’re on social: 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	Welcome to the Monday edition of the On the Tape podcast. I am Dan Nathan, joined by Liz Young. That would be EY from SoFi. She is the head market strategist over there at SoFi. Liz, welcome. Thank you. Happy Monday. It was a heck of a weekend in New York City, man. What, 80 degrees sunny on a Halloween, like, just weekend. I actually saw you all dressed up.
0:23.5	You guys are going to have to go deep on the internet to probably find what Liz was dressed up for
0:27.4	Halloween, but that was a lot of fun on Saturday. Liz, you and I got a lot to go through. We do not
0:33.0	have Guy C. Adami with us, but Guy and Danny had a great conversation with Brent Belote. He is the
0:40.6	founder and chief investment officer at Kaler Capital. He is an oil trader. He's been trading oil
0:46.0	for decades. And he had a lot to say on the supply demand dynamics, geopolitical, and what
0:51.5	that might mean for the price of crude. And you're really extrapolating to a
0:55.4	whole host other things that we talk about a lot. So stick around for that conversation. Liz,
0:59.9	you and I are going to get the folks ready for the trading week because there's a lot going on
1:04.3	this week. We have a Fed meeting. We have a Bank of Japan meeting. We got something going on as
1:09.5	it relates to refunding. This might be more
1:12.5	interesting to you than maybe what the Fed has to say. And then obviously we are still in the
1:17.5	throes of S&P 500 earning some huge earnings this week, two that I'm focused on Apple and Lily,
1:23.8	both on Thursday and a few other things smattered in there too. So let's get to it here.
1:31.0	Let's talk a little bit about Friday's price action because the S&P closed down, I think,
1:35.9	10.5% on the year. This is the biggest peak to drop drawdown that we've had in over a year.
1:42.6	And I thought it was interesting because what happened in the market on Friday,
1:47.1	tech was trying to get buoyed by Amazon up nearly 7% after,
1:52.6	I think what some would say was better than expected earnings and guidance.
1:55.6	I thought it was fine, but maybe it was relative to the expectations.
1:59.3	I think the stock was down maybe 17% from
2:02.7	its recent 52-week highs into the earnings. And I think that had something to do with the reaction.
	...

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