10/17/2026
New TGIF Podcast Episode Drop 🎧
Inflation is still a problem. We see it every day. Gas prices jumped 9% in September. Wholesale inflation saw its second hottest month in 15 years. These higher prices have been sending Bond yields higher too. Stress is building up in the system. The Bond Market has been sending the signals. The Bond Market is the smartest of them all.
Energy prices remain elevated as Middle East tensions rise. The Energy ceasefire between Russia and Ukraine was never going to be a thing. Oil flows had been loosening up in the Persian Gulf. They slowed to a near halt this week. Our sources suggest this structural supply shock could last longer than the Market had been anticipating. West Texas Intermediate crude jumped back above $100. The price at the pumps around the country is $4.33 per gallon. That’s the average. It’s $6.22 here in California. Both are back near the highs on the year.
Tune in to the whole episode here 🎧 https://open.spotify.com/episode/5KgyUZK2SQSf64Jc0Rsicp?si=t-sLbZLhSZKSGF6XCPRdNA