August 3, 2026
The 30-year Treasury hit 5.28% intraday this week, the highest borrowing cost since 2007, and it has nothing to do with a recession. Jerremy Alexander Newsome and Dave Conley open on Palantir, which Dave calls "wired into" the central nervous system of the US government heading into tonight's earnings — the stock sits right on its 100-week moving average after a 40% pullback, and a gap below $117 could trigger one of the biggest sell-offs in months. Apple posted strong earnings but gapped down anyway, admitting it's getting bullied on AI the same week Amazon and Nvidia printed record gains. Dave ties the bond blowout to $1.4 trillion in Treasury borrowing over nine months, with AI companies now competing for the same capital. Jerremy is still short SpaceX ahead of a lockup that frees 20% of its shares for sale within days, and expects the stock to drop below $100.
Timestamps:
- (00:00) Dave and Jerremy open – stocks, politics, and portfolios collide this week
- (00:46) Palantir called "wired into" governments – dystopian data machine draws political heat
- (03:03) Palantir sits at do-or-die level – gap below $117 could trigger a selloff
- (05:03) Apple admits it's getting bullied on AI – Amazon and Nvidia print money
- (09:45) Bond market blows past AI story – 30-year hits highest yield since 2007
- (12:07) SpaceX lockup frees 20% of shares – still short, expects drop below $100
