In this episode of Forward Guidance, Felix and Tyler unpack a week of significant economic data, including a soft labor market report with substantial revisions and a flat unemployment rate despite decreasing labor force participation due to a halt in immigration. They discuss the implications of these trends, including the potential for the Federal Reserve to cut rates, the impact of tariffs on lower-income spenders, and the slowing GDP growth. Tyler expresses concerns about seasonal volatility and the limited effectiveness of Fed cuts in stimulating the economy, while Felix highlights the divergence between AI-driven sectors and struggling lower-income classes. The conversation shifts to market trends, with Tyler noting the potential for increased volatility in August and the highest levels of squeeze sentiment since 2021, before diving into MicroStrategy's updated strategy for issuing equity to buy back Bitcoin, contrasting it with the challenges faced by Ethereum and Solana treasury companies.
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