Wednesday - October 28, 2026
Notes de l’épisode
Brian Szytel reports a third straight up day for markets on a Fed day as the Fed held rates steady, upgraded the economy from “solid” to “strong,” and noted two dissenters favoring a hike amid supply shocks and inflation concerns; he expects the pause to be election-related, with an 86% chance of a December hike and two to three more priced in thereafter, implying a 4.50%–4.75% terminal fed funds range. Markets were modestly higher (Dow +97; S&P and Nasdaq +0.25%), yields barely moved, WTI remained above $100, and inventories data were mostly in line. He addresses a question comparing China’s “ghost city” overbuilding to U.S. data centers, arguing the U.S. build-out is smaller (~3% of GDP vs. ~30%), more market-driven, and closer to dot-com fiber overinvestment risk than China’s state-led, debt-heavy model.
00:00 Market Snapshot
00:13 Fed Holds Rates
01:51 Earnings and Rates
02:22 Day’s Data Recap
02:49 Question on Data Centers
03:29 China Ghost Cities
05:06 US Data Center Risks
06:42 Wrap Up and Thanks
Links mentioned in this episode: DividendCafe.com