By coinnews 
00:00 Speaker A
Now time for some of today’s trending tickers. We’re looking at the 10-year Treasury. JP Morgan Chase CEO Jamie Diamond saying we’re going to see a crack in the bond market. Diamond making the comments an economic form Friday, Josh. So Diamond saying issuing this warning, there’s going to be a crack in the bond market. You’re going to panic, he says. He says he’s not going to panic, but you’re going to panic. I might. Yeah, maybe you might maybe everybody will. Uh, it is Jamie Diamond and so obviously when he speaks people do pay attention and he’s right to say that you stay focused on the bond market, which was spooking folks. And we can debate the reasons why, was it maybe it’s debts and deficits or was it recession fears and widening, was it the selling in in Japanese government debt, but it was spooking folks.
01:20 Speaker B
There’s something about Jamie Diamond and always hitting exactly where kind of the market zeitgeist is, right? It’s if we’re talking about the Fed and the Fed should cut seems to be the narrative that’s out there, it feels like he starts talking about rates. If it’s recession, it’s that. Bond market has definitely been the conversation, right? And I think to Diamond’s point, higher yields have weighed on stocks, right? That’s been the clear trade over the last month in the sense that a lot of the broader market has struggled as rates are going higher and it definitely is feels like the biggest fear or one of the biggest fears in the market right now. City Stewart Kaiser laid out kind of three key risks to the bond or to the stock market and he said simply that premium that bond market premium continuing to move higher is one of the key risks he’s concerned about right now.
02:32 Speaker A
And yet also hope though it does feel like things have perhaps right now calmed down a bit. I mean, I’m looking at the 10-year benchmark, we are back to 44.
02:48 Speaker C
Well, what I find interesting, he also said in this conversation that this may be the wake-up call that we need. I mean, I think with what we saw last two weeks, we got the wake-up call already. So I’m not really sure what this really adds. I mean, of course he’s always going to make news with what he says, but you know, I I think he’s already to your point talking about the zeitgeist and and we’ve been talking about it for a while. So, um, you know, to me it’s it’s always nice to have a Jamie headline here and there, but I’m just really not sure what new things we’re learning from his insights today.
03:42 Speaker A
Yeah. I mean, he’s he’s right by me. I mean, debts and deficits are a big challenge and bond markets are going to have to navigate that. Yeah. We are checking in on Palantir by the way, those shares tacking on a nice 5% in today’s trade. That’s after the New York Times report of President Trump has expanded the software company’s work across the federal government, tapping the company’s technology, which can which can easily organize, we know and analyze data pulled from different agencies. So this was the Times report how the Trump administration has expanded Palantir’s work, Josh, with the government. They say the company has received more than 113 million in federal government spending since Trump took office. Does not and that doesn’t include by the way, they say this nearly $800 million contract the DOD awarded Alex Karp’s company last week. This has not been a stock by the way you want to bet against. It’s been rough.
05:00 Speaker B
No, short sellers have lost over two billion dollars betting on this stock since April 8th. That’s from S3 partners, Josh. But you just zoom out on the stock like we’re doing right now, right? You look over six months, things up 91%. Like stock is now trading at basically an all-time high, right?
05:24 Speaker A
Up 470% of the past 12 months.
05:27 Speaker B
Yeah, it’s it’s a crazy, crazy chart. And I think I was when we were talking about this before the show, I was looking stock was only up 1% and I was like, okay, maybe we finally just maxed out on potential catalyst here because it is a good contract. And the stock wasn’t moving that much. Now interesting is we get the broader market rally that we’re starting to see into the close. Palantir’s one of the key movers. Palantir feels like it’s been a little bit of a leader for the market. Palantir kind of moves a little bit higher than the market’s moving, but it’s definitely one of those hype trades.
06:06 Speaker A
But what do you make of it?
06:09 Speaker C
Palantir, Nvidia, these are companies you don’t bet against now. I think what’s most fascinating to me is that there were some concerns that defense stocks were going to get hit as the DOD operation was well underway and the fact that Palantir has done better than most expected, but clearly still winning more contracts and that Trump is is very much leaning into Karp’s business is is obviously another reason that you will not now bet against Palantir.
06:45 Speaker A
And by the way, what else happened this week? Fannie Mae told us they’re launching this AI powered crime detection unit. Who do they partner with?
07:01 Speaker B
Palantir.
07:02 Speaker A
Palantir.