Treasury yields break out, how to invest with Bill Ackman, Workday rumors, off-balance sheet madness
Summary
The hosts discuss rising long-term bond yields, attributing them to global debt concerns and corporate issuance rather than immediate economic weakness. They analyze the "SaaSpocalypse," noting a stabilization in software stocks like Workday and Salesforce despite lingering AI disruption fears. The episode also covers massive off-balance sheet data center obligations for tech giants and highlights broad market strength, with financial stocks hitting record winning streaks.
Topics discussed
Intro: Office demolition, show format, and Lazy Boy trivia
Sponsor: Franklin Templeton Target Date Funds
Rising bond yields, global debt, and fiscal policy concerns
AI CapEx, off-balance sheet debt, and Oracle/Meta risks
SaaS stocks: Workday M&A, Salesforce, and the 'SaaSpocalypse'
Market breadth, new lows, and unusual trading volume
Bill Ackman's portfolio, Pershing Square, and Howard Hughes
Market timing, travel ETFs, and Spotify breakout
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