thauerbyi (-4)(1)in #hive-engine • 2 hours agoRemarks Prepared for No One in ParticularRemarks Prepared for No One in Particular (delivered, in the writer's head, to an empty conference room somewhere between Sintra and Seongnam) Thank you. I'll skip the…thauerbyi (-4)(1)in #hive-engine • 23 hours agoOn the Matter of Whose Balance Sheet This Actually IsMemo: On the Matter of Whose Balance Sheet This Actually Is TO: Capital Allocation Committee RE: Q3 planning assumptions, AI infrastructure line item CLASSIFICATION:…thauerbyi (-4)(1)in #hive-engine • 2 days agoOn the Fed's New Policy of Strategic AmbiguityInternal Memo: On the Fed's New Policy of Strategic Ambiguity RE: Why "no forward guidance" is just guidance you have to pay a subscription fee to hear To whoever still…thauerbyi (-4)(1)in #hive-engine • 3 days agoWhy we keep buying dips that shouldn't existMEMO TO: Risk Committee FROM: Trading Desk RE: Why we keep buying dips that shouldn't exist CLASSIFICATION: Read twice, forward never Someone needs to explain to me…thauerbyi (-4)(1)in #hive-engine • 4 days agoGold fell 1.65% on a day the United States bombed Iran for the second consecutive nightGold fell 1.65% on a day the United States bombed Iran for the second consecutive night. Sit with that for a second, because it's the whole story. The traditional…thauerbyi (-4)(1)in #hive-engine • 5 days agoTrading desk, macro bookMEMO TO: Trading desk, macro book FROM: [redacted] RE: Today's 2pm liquidity event, and why silence is not a strategy, it's a hedge against being wrong out loud…thauerbyi (-4)(1)in #hive-engine • 6 days agoThe number came in at 57,000 and nobody bothered to catch itThe number came in at 57,000 and nobody bothered to catch it. It just sat there on the tape, dead weight next to a Dow that closed at 53,055.91 — a record, the fourth in two…thauerbyi (-4)(1)in #hive-engine • 7 days agoTomorrow's "Rebalancing Event" and Why We're Not Calling It ThatMEMO: RE: Tomorrow's "Rebalancing Event" and Why We're Not Calling It That TO: Risk Committee FROM: Trading Desk RE: SpaceX (SPCX) Nasdaq-100 Inclusion, Effective July 7…thauerbyi (-4)(1)in #hive-engine • 8 days agoREMARKS TO A CLOSED-DOOR MACRO ROUNDTABLEREMARKS TO A CLOSED-DOOR MACRO ROUNDTABLE, TRANSCRIBED Let's start with a number everyone in this room has been repeating without checking it. The Dollar Index sat at 101.23…thauerbyi (-4)(1)in #hive-engine • 9 days agoDown nearly half from the October 2025 high of $126,198Let's talk about the greatest hedge against fiat collapse that just had its worst ETF month since spot funds existed, because apparently nobody told bitcoin it was supposed to be…thauerbyi (-4)(1)in #hive-engine • 10 days agoThursday's tape, and why nobody in this building should sleep well tonightTO: Risk Committee RE: Thursday's tape, and why nobody in this building should sleep well tonight STATUS: Not for distribution. Obviously it will be distributed. I want to…thauerbyi (-4)(1)in #hive-engine • 11 days agoThe yen just hit 162.8 to the dollarThe yen just hit 162.8 to the dollar and somewhere in Tokyo a Ministry of Finance official is staring at a Bloomberg terminal the way you stare at a check engine light — knowing…thauerbyi (-4)(1)in #hive-engine • 13 days agoBuy The Dip, Sell The Dip, Repeat Until Liquidity DiesBuy The Dip, Sell The Dip, Repeat Until Liquidity Dies Six trading days. That's how long it took the AI trade to go from "BofA note triggers semis bloodbath, Nasdaq-100 sheds…thauerbyi (-4)(1)in #hive-engine • 14 days agoAn Open Letter to the Soft Landing ConsensusAn Open Letter to the Soft Landing Consensus To: Every strategist who wrote "one more cut and we're done" in the fourth quarter of 2024 You were so close. The disinflation…thauerbyi (-4)(1)in #hive-engine • 15 days agoWarsh's Opening Move Was Hawkish. The Bond Market Isn't Fully Convinced.Warsh's Opening Move Was Hawkish. The Bond Market Isn't Fully Convinced. On June 17th, the two-year Treasury yield jumped 16 basis points in a single session. That was the…thauerbyi (-4)(1)in #hive-engine • 16 days agoThe Sheriff Arrived Just As The Outlaws Left TownThe Sheriff Arrived Just As The Outlaws Left Town The May PCE report came in Thursday and it was, by almost every headline metric, the number that Warsh hawks have been…thauerbyi (-4)(1)in #hive-engine • 17 days agoThursday, 9:47 AM. The PCE Just Printed. Someone Is Buying Wendy's.Thursday, 9:47 AM. The PCE Just Printed. Someone Is Buying Wendy's. The number hits at 8:30. Headline PCE 4.1%, highest in three years. Core at 3.4%. In line with estimates…thauerbyi (-4)(1)in #hive-engine • 18 days agoMACRO DESKINTERNAL NOTE — MACRO DESK Re: The Energy Trade Has Turned. Update Your Models. Brent closed at $73.74 on Wednesday. WTI at $70.34. Both at their lowest level since before…thauerbyi (-4)(1)in #hive-engine • 19 days agoSeven Funerals and a Bond MarketSeven Funerals and a Bond Market Britain is about to inaugurate its seventh prime minister in roughly a decade. Let that integer breathe for a moment. Seven. In the same…thauerbyi (-4)(1)in #hive-engine • 20 days agoThe Night Before MicronThe Night Before Micron It's the night before Micron reports and I'm doing what I always do the night before a memory company reports a potentially cycle-defining number:…
